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Government Incentive for MO Homeowners

April 19, 2010

Missouri homeowners have shown up in “Green” news in the past few days, thanks to some forward-thinking eco-advocates. According to an article in the Associated Press, Missouri homeowners could have some “going green” incentive thanks to a “proposed financing program that would pay the upfront costs for energy efficiency improvements” said AP Writer Sarah Wire. The program is called Property Assessed Clean Energy, and would promote energy-saving improvements in Missouri homes. Additionally, Missouri residents would have “up to 20 years to pay off the loan through a special property tax assessment. The assessment is passed to the next owner if the home is sold.”

The current legislation aims to address the high costs of installing energy efficiency measures such as insulation, storm windows, lighting, etc. Springfield based group Renew Missouri, which advocates for energy policy, says at least a dozen Missouri cities have expressed interest in the funding mechanism including St. Louis, Kansas City, Ferguson and Creve Coeur.

The legislation requires the projects be financially feasible, meaning most projects would likely focus on energy conservation. Missouri would allow cities and counties to opt into the program. Then the cities could issue bonds and assess the tax only on participating homeowners.

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