Title
Presentation of On Bill Financing Program and Possible Action
Recommended Action Motion
I move that the Board of Public Utilities receive the presentation regarding On-Bill Financing and direct no further action at this time.
-OR-
I move that the Board of Public Utilities direct staff to pursue On-Bill Financing program and return to the Board with additional program details.
Body
On-Bill Financing allows utility customers to pay for eligible 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.
The concept aligns with broader County goals related to energy efficiency and electrification. Financing tools such as on-bill financing may provide customers with a mechanism to pursue upgrades that otherwise may be financially difficult to achieve due to high initial costs.
Staff have been working with the New Mexico Climate Investment Center and the Coalition of Sustainable Communities New Mexico to explore program concepts and potential funding structures. As discussed during the presentation, the intent would be for external financing partners to provide capital for any future program, and Los Alamos Department of Public Utilities would not act as the lender. The utility's role would primarily focus on education, coordination and billing administration should a program ultimately move forward.
The concept of on-bill financing was presented to the Environmental Sustainability Board (ESB) on May 21, 2026. No formal recommendation or action was taken by the Board. However, members generally expressed support for the concept and discussed its potential as a tool to help improve home energy efficiency, saf...
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