Home › Resources ›

Recovery Through Building Renovation Act (S. 3780)

Share this
Resource Type:
Federal Legislation
Hospital

Alliance honorary board chair Senator Jean Shaheen (D-N.H.), along with Senator Mary Landrieu (D-La.), introduced the Recovery Through Building Renovation Act (S. 3780) on September 14th. The bill would create three programs to support financing for energy efficiency in buildings.

Bill Summary

Section 2: Building Efficiency Retrofit Loan Credit Support Program

This section would create a program to guarantee loans, or create other forms of ‘credit enhancement,’ to mitigate risk in energy efficiency investments. Commercial, industrial, municipal, educational, and hospital buildings would be eligible. The Department of Energy (DOE) would create the specific standards for such loan or credit guarantees, including requirements for energy savings certification and required levels of energy savings. DOE would also determine any lien requirements that might be necessary. A number of mechanisms could be included in this program, including:

  • Loans
  • Power purchase agreements
  • Energy services agreements (e.g. energy savings performance contracts)
  • Property assessed clean energy (PACE) financing and similar tax-assessment programs
  • On-meter agreements
  • Other programs DOE selects

Not more than 90% of the cost of a project, or $10 million for a single project, could be provided by this program. Projects may be pooled into a single application.

‘Davis-Bacon Act’ prevailing-wage requirements would be in place for projects supported by this program.

$500 million would be authorized to be appropriated.

Section 3: MUSH Building Revolving Fund

This section would create a revolving loan fund to support energy efficiency retrofits to publically-owned municipal, university, school, or hospital (M.U.S.H.) buildings. Energy consumption data would have to be collected for three years after a project is completed, and be made publically available. The maximum repayment term would be fifteen years. There is no specific dollar value authorization made.

Section 4: Energy Efficiency Support Program

The section would establish a competitively-awarded grant program to support state and tribal PACE financing and similar tax-assessed financing programs for energy efficiency building retrofits. It would capitalize loan loss reserves, to a maximum of $10 million per entity. Various requirements would be placed on the operation of financing programs supported by this program. No specific funding authorization is made.