(Section scheduled to be repealed on September 15, 2045) Sec. 20-30. Primary responsibilities in early program development.
(a)Consistent with the goals of this Act, the Fund has the authority to pursue a broad range of financial products and services. In early development of products and services offered, the Fund should consider the following programs as its initial set of investment initiatives:
(1)a solar lease, power-purchase agreement, or loan-to-own product specifically designed to complement and grow the Illinois Solar for All Program;
(2)direct capitalization of contractors of color participating in or graduating from the workforce and business development programs established in the Energy Transition Act;
(3)providing direct capitalization of community-based projects in envir
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(Section scheduled to be repealed on September 15, 2045) Sec. 20-30. Primary responsibilities in early program development. (a) Consistent with the goals of this Act, the Fund has the authority to pursue a broad range of financial products and services. In early development of products and services offered, the Fund should consider the following programs as its initial set of investment initiatives: (1) a solar lease, power-purchase agreement, or loan-to-own product specifically designed to complement and grow the Illinois Solar for All Program; (2) direct capitalization of contractors of color participating in or graduating from the workforce and business development programs established in the Energy Transition Act; (3) providing direct capitalization of community-based projects in environmental justice communities through upfront grants. Project applications should provide a community benefit, align with environmental justice communities, be in support of this Act's contractor and workforce development goals, and support upfront planning, development, and start up costs that often are not covered prior to applying for program incentives and other loan products; (4) providing loan loss reserve products to secure stable and low-interest financing for individual projects and portfolios consistent with the goals of this Act that would be otherwise unable to receive financing; and (5) offering financing and administrative services for municipal utilities and rural electric cooperatives to create their own version of the on-bill Equitable Energy Upgrade Program such as the Pay As You Save program developed by the Energy Efficiency Institute.