SB 26-148

Senate Bill 26-148 is a law that provides $50 million in low-interest funding from the state's unclaimed property trust fund to the Colorado Clean Energy Fund (CCEF) by August 15, 2026. This money will help finance energy upgrades like solar panels or insulation for homes and businesses through their utility bills. The bill also requires the CCEF to submit yearly reports on how this program is being used. This funding aims to make it easier and more affordable for Coloradans to improve their energy efficiency, benefiting both residents and utilities that participate in the program. Since the status of the bill is "signed," it has been approved by the legislature and signed into law by the governor, meaning the provisions will take effect as planned.

Official Summary

The Colorado Clean Energy Fund (CCEF) is a nonprofit institution with experience administering clean energy financing programs and is the designated green bank for the federal environmental protection agency's region 8. The CCEF administers an on-bill repayment program (program) to help finance certain energy-related upgrades installed at a utility customer's premises that are associated with the utility meter. Under the program, in partnership with Colorado-based utilities, the CCEF finances energy-related upgrades that are then repaid through a customer's monthly utility bill payments.     The bill directs the state treasurer to, on August 15, 2026, execute a loan agreement with the CCEF for a low-interest loan of $50 million from the unclaimed property trust fund.The purpose of the loan is to capitalize and expand the CCEF's on-bill repayment program and to accelerate utility adoption of the program.     The Colorado energy office is required to review the design of the program before August 1, 2026. The bill specifies certain requirements for the program and for a utility to access the funding for the program, including requirements related to disclosures, notices, transfers of responsibility for an on-bill repayment obligation, and interest rates.     The CCEF is required to submit annual reports to the joint budget committee, the Colorado energy office, and the state treasurer detailing the deployment of the program.(Note: This summary applies to this bill as introduced.)

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