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Qualified Energy Conservation Bonds

Qualified Energy Conservation Bonds

Full Title: Qualified Energy Conservation Bonds
Author(s): N/A
Publisher(s): Energy Programs Consortium
Publication Date: December 1, 2013
Full Text: Download Resource
Description (excerpt):

 

Qualified Energy Conservation Bonds (QECBs) were authorized by Congress in the 2008 Energy Improvement and Extension Act. The original legislation authorized just $800 million of QECBs nationwide. In 2009, Congress increased to $3.2 billion the funding for states, territories, large local governments, and tribal governments to issue QECBs to finance renewable energy and energy efficiency projects. The total allocation was divided among the state and territorial issuers according to population.

At least 163 projects, totaling more than $980.7 million, have been funded to date. Projects have been financed with QECBs in at least 28 states. Some states, such as Kansas and Kentucky (with California, Colorado, Montana, and South Dakota close behind) have exhausted or nearly exhausted their allocations, while up to 18 states have yet to use any portion of their allocation. Issuances are being planned in at least 6 states. Approximately 30.7% of the $3.2 billion in funds provided by ARRA are now known to have been issued. QECBs are among many federal programs that have experienced sequestration cuts. See Section VI. Under current federal law, however, the authority to issue these bonds does not sunset.

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