Local Energy and Efficiency Partnership (LEEP)

LEEP blocked by House in voice vote

Unfortunately, the LEEP Act did not pass its vote in the House Government Organizations committee. The discussion of the bill was based on a faulty understanding of how the bill works, and that discussion killed the bill. The committee may be open to a study resolution during the legislative interim.

Over 1,000 letters were sent to the Capitol about LEEP. Thank you all for your support.

What is WV-LEEP?

The Local Energy and Efficiency Partnership (WV-LEEP) for West Virginia is an innovative way for commercial property owners and small business owners to pay for energy efficiency upgrades. Funding is provided or arranged by a local government for 100% of a project’s costs and is repaid with an assessment over a term of up to 20 years. Local government assessment financing has been used efficiently for decades throughout the United States to fund improvements to private property that meet a public purpose.

  • Financing would be available for all types of commercial and industrial properties, large and small, and may be available to non-profits and government facilities.
  • Financing approvals are simple, but WV-LEEP projects must save money for the property owner.
  • Energy audits, benchmarking and evaluation can be used to ensure that projects make sense, but WV-LEEP is 100% voluntary. In communities that adopt WV-LEEP, assess­ments are only paid by participating owners, and only for their own projects.
  • Programs are locally based and tailored to meet local market needs.

Benefits of WV-LEEP

WV-LEEP financing has many features that can uniquely solve barriers to the adoption of energy efficiency measures.

  • 100% financing requires no up-front cash investment
  • Long-term financing (up to 20 years) results in immediate positive cash flow
  • No payoff upon sale because WV-LEEP assessments (and energy savings) remain with the property
  • Assessment costs and savings can be shared with tenants
  • WV-LEEP can attract a wide range of private investors with low-interest rates
  • WV-LEEP may be treated as off-balance sheet financing
  • Non-recourse, non-accelerating financing
  • WV-LEEP programs are local and community members are motivated to engage in outreach and marketing efforts

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Emmett Pepper,
Mar 16, 2017, 6:59 PM
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