Updated by Staff

Earlier this month, Gov. Bill Ritter came to Aspen to sign Senate Bill 100 during a ceremony in Aspen. The new state legislation will allow counties to jointly manage loan programs for energy efficiency upgrades and renewable energy installations.

State Sen. Gail Schwartz, co-sponsor of the bill, and other community clean energy leaders attended the jubilant signing ceremony at Gondola Plaza at the foot of Aspen Mountain.

SB 100 builds on legislation passed in 2008, HB 1350, which allowed counties to issue bonds and loan the funds to property owners for energy upgrades. Those who choose to borrow from the fund repay the debt on their annual property tax bill over 10 to 20 years.

The 2008 bill envisioned single-county programs, which Boulder County developed in 2009, injecting $9 million into its economy for energy upgrades. Last November, voters in Pitkin, Eagle and Gunnison counties also approved bond issues for similar loan programs. However, as small-population counties borrowing much less money, they didn’t have the same financing muscle.

Under SB 100, counties will be able to jointly issue bonds and administer loan programs. The change is expected to yield lower loan interest rates and administrative costs.

“Without the changes proposed in SB 100, it will be extremely difficult for Colorado’s smaller counties to offer this financing tool, denying their home and business owners access to the benefits this tool provides,” Gov. Ritter said during the bill-signing.

“For rural counties such as ours, SB 100 is a big step toward taking the New Energy Economy out of newspaper headlines and putting it to work in local neighborhoods,” said Rachel Richards, Pitkin County Commissioner. “It helps empower county governments to empower our citizens to lower their energy consumption and their energy bills — all while helping to put their own neighbors, in the hard-hit construction trades, back to work.”

“As Colorado continues to expand our renewable energy sector, we must address the evolving needs of consumers and local communities,” said Sen. Schwartz. “Voters in Colorado continue to approve programs to finance affordable energy improvements to their homes. Innovative programs like Energy Smart Bonds will make renewable energy accessible to most Coloradans and keep Colorado leading the nation in the New Energy Economy.”