5/24/21 Emergency Regulations Enacted
On May 24, 2021, the Office of Administrative Law approved the emergency regulation amendments to the Residential Energy Efficiency Loan Assistance Program (REEL). These amended regulations are effective until March 23, 2022. Per Executive Orders N-40-20 and N-71-20, two 60-day extensions have been added to the 180 days for emergency regulations.
The subject of the proposed amended regulations for REEL was discussed at a public workshop on March 12, 2021, and CAEATFA invited public comment through March 19, 2021. Following the workshop, CAEATFA made additional changes, based on stakeholder input.
The proposed regulations were publicly noticed, considered, and approved by the CAEATFA Board at a public meeting held on April 20, 2021.
The amendments are intended to ease operations for lenders, support high-volume loan enrollment and facilitate automated reporting. They add new eligible measures, improve rules around safety testing and create a pathway for the program to begin enrolling microloans. 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 CAEATFA were able to secure a source of non-ratepayer funding for the Program, and pending approval from the California Public Utilities Commission.