Dive Brief:
- The Arkansas Energy Office (AEO) has issued a Request for Proposals soliciting program designs and a contractor to develop and manage an energy efficiency financing program.
- The program, which aims to start small and expand as experience is gained, would serve residential customers of Arkansas’ seven investor-owned electric and natural gas utilities.
- Responses to the RFP are due Sept. 20. The AEO says it wants a third-party administered “quick start” residential energy efficiency financing program.
Dive Insight:
Arkansas wants to develop a program to fund energy efficiency upgrades, but says it expects limited expenditures and reach as it takes on the new initiative.
In the RFP, AEO said it is "willing to forego initial customization to establish a basic program that allows its chosen administrator and select partners to offer energy efficiency financing to customers quickly while retaining the ability to learn from experience and modify or expand it in the future."
The program should include options that "balance financing to the broadest possible population of residential customers, including less creditworthy customers," specifically those with FICO scores below 600.
The one-year contract should have low start-up costs for AEO, up to $35,000, and the ability to modify the program in the future to expand geographic coverage. Other changes to eligible measures and customers must also be possible, along with "any other program feature to broaden access to energy efficiency and/or clean energy measures throughout the state."
Two years ago, the independent monitor overseeing efforts to reduce power consumption in the state said utilities were making "excellent progress" on energy efficiency goals.
