SB 14-186 Summary

• Creates Colorado Revised Statute 24-38.5-109 to enable aggregation of energy efficiency and renewable energy projects in small or rural communities to attract private sector investment through performance contracts.

• Authorizes the Colorado Energy Office to work with prequalified energy service companies to aggregate diverse efficiency or renewable energy projects into larger portfolios that can attract bank or investor financing without creating state financial obligations.

• Establishes the "Efficient Schools and Communities Performance Contracting Fund" in the state treasury, funded by cost of issuance fees (up to 1% of project financing) paid to the Department of Local Affairs.

• Allows the Department of Local Affairs to award grants from the fund to reimburse community entities and energy service companies for portions of technical energy audits or costs if their efficiency projects fail to secure private financing.

• Requires the Colorado Energy Office to provide facilitation, technical support, and standardized performance contract documents to participating community entities, and to maintain lists of prequalified energy service companies willing to work in each state regional office area.