http://www.energyefficiencynews.com/i/2598/

New York State last week passed legislation to make loans available for households and businesses that want to improve their energy efficiency.
Property Assessed Clean Energy (PACE) funds will cover the upfront costs for installing solar energy systems or making energy efficiency improvements to properties.
The voluntary systems works by establishing ‘clean energy finance districts’ in cities or counties that can issue low-interest bonds. Participants use the bonds to cover the costs of renewable energy and efficiency improvements on a property. The loan is then paid back over a 20-year period through a property tax, which is typically less than the energy bill savings generated by the improvements.
“By passing the municipal sustainable energy loan program bill, we are putting New York municipalities in a position to compete for $454 million in federal stimulus funds,” said Congressman Steve Israel.
The legislation removes one of the biggest barriers to adopting solar power, upfront costs, says campaign group Vote Solar, who is backing the move.
Meanwhile, Pennsylvania Governor Edward G. Rendell has launched a $22 million Conservation Works! grant programme.
The programme, which is being funded by the American Recovery and Reinvestment Act, aims to help local government and non-profit organisations improve efficiency, cut consumption and reduce energy costs by at least 25% through the provision of grants of up to $250,000 for single organisations or $500,000 for combined projects.
Grants have been awarded to 99 projects that are expected to save over 570 million kilowatt hours of electricity and generate generate an additional 14.4 million kilowatt hours.
More than 4000 traffic lights will be replaced with more efficient models under one project, says Governor Rendell, which will make immediate energy savings.
All projects funded under the scheme have to begin work in the next six months and be completed by the end of May 2011.