[§269‑125]  On-bill financing for energy efficiency and renewable energy.  (a)  The public utilities commission shall investigate an on-bill financing program that would allow an electric utility company customer to purchase or otherwise acquire a renewable energy system or energy-efficient device, as determined by the public utilities commission, by providing for billing and payment of such a system or device through an assessment on the electric utility company customer's electricity bill.

     (b)  In investigating an on-bill financing program, the public utilities commission may consider:

     (1)  The costs and benefits associated with the establishment and administration of the program;

     (2)  The ability of the program to effectively provide life cycle cost savings to participating electric utility company customers;

     (3)  The ability of the program to make renewable energy and energy efficiency more accessible to the rental market and other underserved markets;

     (4)  Methods to structure the program to ensure that any public benefits fee funds are spent cost-effectively and in compliance with applicable statutes;

     (5)  The use of non-ratepayer funds or private capital to provide financing for renewable energy systems or energy-efficient devices acquired through the program;

     (6)  Reasonable penalties, which may include fines and disconnection of utility services, for nonpayment of on-bill financing costs;

     (7)  The ability of an electric utility company to recover costs incurred due to the program; and

     (8)  Other issues the public utilities commission deems appropriate.

     (c)  If on-bill financing is determined by the public utilities commission to be viable, the public utilities commission may implement an on-bill financing program by decision and order or by rules pursuant to chapter 91. [L 2011, c 204, §2]