Title
Overview of On Bill Financing Program
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On-Bill Financing allows utility customers to pay for energy improvements, such as heat pumps, electrical panel upgrades, heat pump water heaters, insulation, or other energy-efficient technologies, through their monthly utility bill instead of paying the full cost upfront. Costs are spread out over time, helping make upgrades more affordable while potentially reducing energy use, improving comfort, and reducing barriers to adopting more efficient technologies.
This concept will be presented to the Board of Public Utilities on June 3 as an opportunity to explore tools that may help utility members access energy improvements that may otherwise be difficult due to upfront costs. Potential discussion topics include eligible measures, financing terms, customer affordability, program structure, and possible benefits for both utility members and the community.
County staff have been working collaboratively with the Climate Investment Center, the Coalition of Sustainable Communities New Mexico, and the Department of Public Utilities to better understand potential program structures, funding opportunities, implementation considerations, and lessons learned from similar efforts.
Tonight, I am providing a preview to the Environmental Sustainability Board and would appreciate your feedback, questions, and endorsement to help strengthen the concept, identify additional considerations, and improve the overall effectiveness of the program prior to presentation to the Board of Public Utilities.
Attachment
A - On Bill Financing Presentation