On-bill financing programs have been approved by state utility regulators in Virginia. Rappahannock Electric Co-op is currently considering a popular financing program design, Pay-As-You-Save (PAYS).
The on-bill financing program being pursued by Rappahannock Electric Co-op after a 2020 Virginia law authorized state utility regulators to pre-approve the program for electric co-ops in Virginia. Presenters at this forum continued (https://repowerrec.com/):
- Rory McIlmoil from Appalachian Voices
- Liz Veazey from Solar United Neighbors, and
- Katherine Johnson from Johnson Consulting Group.
Katherine summarized the history of PAYS programs that have been successfully used for rural electric cooperatives across the US. Clink here to see her presentation.
In the future, on-bill financing could be used for solar, battery storage, or other technologies that increase energy savings. Repower REC hosted this forum for Rappahannock Electric Co-op members to learn about how these programs have helped electric co-op members around the country reduce their power bills.
This event was co-hosted: Appalachian Voices, The Piedmont Environmental Council, Solar United Neighbors, and Virginia Interfaith Power & Light.