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RI H8132
Bill
Status
2/27/2026
Primary Sponsor
Terri-Denise Cortvriend
Click for details
AI Summary
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Establishes a no-interest loan program through the Rhode Island Office of Energy Resources to fund geothermal heat pump feasibility studies for multi-unit residential buildings over 65,000 square feet
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Loans capped at $50,000 per building, or $75,000 for buildings exceeding 100,000 square feet, with funds restricted to paying qualified contractors for feasibility proposals
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Loan repayment not required if the feasibility study determines geothermal conversion is infeasible or if the applicant cannot obtain necessary financing or approvals to proceed
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Appropriates up to $500,000 annually beginning fiscal year 2026-2027, with unspent funds rolling over and repaid loans recycled into a revolving fund for new applicants
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Requires annual reporting to the governor and legislative leaders on applications, loan amounts, feasibility outcomes, estimated emissions reductions, and program recommendations
Legislative Description
Creates the multi-unit residential decarbonization initiative program to provide funding for feasibility studies to convert large, multi-family residential units to non-emitting renewable geothermal energy.
State Affairs And Government
Last Action
Committee recommended measure be held for further study
3/11/2026