Georgia Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 06/11/2012
Program Overview:
| State: |
Georgia |
| Incentive Type: |
PACE Financing |
| Eligible Efficiency Technologies: |
Locally determined |
| Eligible Renewable/Other Technologies: |
Locally determined |
| Applicable Sectors: |
Commercial, Industrial, Residential, Schools, Local Government |
| Terms: | Determined locally. |
Authority 1:
Date Enacted:
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HB 1388
5/20/2010
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Authority 2:
Date Enacted:
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O.C.G.A. ยง 36-42-3
5/20/2010
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Summary:
Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided.
Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Georgia has authorized certain local governments to establish such programs, as described below. (Not all local governments in Georgia offer PACE financing; contact your local government to find out if it has established a PACE financing program.)
Georgia has authorized the expansion of "business improvement districts" to allow county, city, or town development authorities to provide financing for the installation of renewable energy systems, energy efficiency or conservation improvements, and water efficiency or conservation improvements to residential, commercial, industrial or other qualifying property. This change became effective on May 20, 2010 when Governor Sonny Perdue signed HB 1388, amending Georgia Code 36-42-3 and creating PACE financing in Georgia. |
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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