GoGreen Home Energy Financing Regulations
11/15/2023: Proposed Modifications to the GoGreen Home Program Regulations
CAEATFA held a public workshop at 10:00 AM PDT on October 23, 2023, to propose modifications to the existing regulations for the GoGreen Home Energy Financing Program (GoGreen Home). CAEATFA accepted public comments until Friday, October 27, 2023 at 5:00PM PDT and is no longer accepting public comments.
The proposed modifications will ease operations for lenders and are intended to support efficient redeployment and rebalancing of Loss Reserve funding to facilitate program scaling. The addition of a new section would also allow CAEATFA to utilize funds from external funding sources to deploy Interest Rate Buy-Downs, to help lower interest rates.
CAEATFA submitted the proposed regulations to the CAEATFA Board for approval at the November 14, 2023 Board meeting. Having received approval by the Board, CAEATFA will utilize the emergency rulemaking process and submit the proposed regulations to the Office of Administrative Law, with their expected approval by mid-December 2023.
9/29/2022: Modified Regulations Adopted through the Regular Rulemaking Process
Modifications to regulations for the GoGreen Home Energy Financing Program received approval from the Office of Administrative Law (OAL) and took effect on September 29, 2022. This formalized modifications to the program that were initially authorized under the emergency rulemaking process started in May 2021 and completed by the regular rulemaking process.
The modifications include rules for a streamlined pathway for Microloans; inclusion of additional Eligible Energy Efficiency Measures; the addition of a Channel Partner role to assist lenders with marketing, deal generation and Program enrollment; and reducing the net worth requirement for finance companies in order to facilitate participation of newer entrants to the energy efficiency financing space. Additionally, the changes allow lenders to receive a credit enhancement for the financing of measures that correspond to a non-IOU fuel source in the event that the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) secures a source of non-ratepayer Energy Efficiency funding for the Program. The modifications also ease operations for lenders, support high-volume loan enrollment and facilitate automated reporting. Other clarifications and minor modifications were included.
- View the approved and endorsed Form 400 Certificate of Compliance filed with the Secretary of State
- View the approved regulations filed with the Secretary of State.