On-Bill Financing (OBF)
Program Update
The 2013-14 OBF Program will launch Monday, April 1, 2013. Following the last On-Bill Financing Program update of March 4, SCE has received a number of inquiries and requests for clarifications. These revolve around the effective date of the changes, eligibility criteria, maximum loan terms and limits, and several other areas. To keep all 2013-14 OBF updates together, inquiries on matters not referenced in the March 4 update have been added and identified as new. Clarifications have also been added and identified as such. See Additional Details for more information.
Drivers to Program Changes
The promotion of cost-effective, comprehensive energy management projects; adoption of enhanced targeted technologies; standardization of investor-owned utility (IOU) statewide financing programs; increasing access to funding for a greater number of market participants; and increasing assurance that customers (borrowers) fully understand program obligations.
List of Key Program Changes
Clarification - Effective Date of Program Changes
All 2013-14 OBF Program design changes will only be applicable to new Incentive/OBF Applications submitted when the program launches on April 1, 2013.
New - Revised Eligibility Criteria
a) Eligibility of measures for OBF funding will be based upon current eligibility criteria for Statewide Core Calculated Programs, Statewide (SW) Core Express Programs, and Third Party Implemented Programs, Pay-for-Performance (Customized) approach.
b) Applicants who apply for the comprehensiveness bonus are not eligible to receive OBF loan funding. This provision will be revisited within 6 months of OBF program launch.
c) OBF Loan funding is available to fund Project Costs less Approved incentives. Monthly debt payments are established based upon an estimate of claimable energy savings multiplied by the average historical 12 month electricity rate (cents per kWh). In the past, SCE offered loan funding up to the maximum allowable loan term, even if this did not cover the entire "financeable amount" (Project Costs less Approved Incentives). In the 2013-2014 program cycle, SCE is modifying its program to align with other IOU's. If the ... Read full update here >
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