04/07/2009: "Greener Energy Alternatives"

OLYMPIA - The state Senate on Friday cleared the way for greater investments in alternative energy, approving the Sustainable Energy Trust Fund sponsored by Speaker Pro Tem Jeff Morris (D -Mount Vernon) by a vote of 43 to 2.

The Mount Vernon resident and energy-policy expert by trade, Jeff Morris, worked with energy utilities, energy reps, and lawmakers from around the state to develop HB 1007 -landmark legislation encouraging growth in small energy projects designed for residences or small businesses.

Morris was inspired to pursue a statewide sustainable-energy trust fund after seeing similar successful programs implemented on smaller scales around the country. Morris believes a statewide program will create financing efficiencies that will pay off dividends in the long run. “This proposal removes one of the largest barriers to individuals or businesses that want to generate their own renewable energy or conserve the energy they use.”

The sustainable-energy trust fund:

• Allows property owners to apply to the Housing Finance Commission for energy
efficiency or renewable energy improvements.
• Directs the Housing Finance Commission to periodically issue Sustainable Energy Trust bonds to pay for energy efficiency and renewable energy improvements.
• Allows property owners up to 10 years to pay back the cost of an energy efficiency
improvement and 25 years to pay back the cost of a renewable energy improvement.
• Establishes a process for reimbursing renewable energy and energy efficiency installers for the improvements they have made.
• Establishes an application certification process for property owners who wish to install an energy efficiency or renewable energy improvement.

“It’s time for us to realize our goal of sustainable, clean energy independent from foreign sources,” added Morris. “This gets us one step closer, and will help us build the movement not just from the top, but from the bottom up as well.”

Morris’ bill now moves to the Governor’s desk for her signature before officially becoming a new state law.