Legislation led by Colorado Democrats will take effect on August 12th to make energy and utility costs more affordable for families by improving energy assistance programmes and boosting geothermal development.
Legislation SB26-002 standardises and improves energy assistance programmes to ensure Coloradans have access to affordable energy.
Cathy Kipp, Colorado State Senator, said, “No one should be spending an exorbitant amount of their income on utilities. Colorado families face difficult choices every month between rent, groceries, bills, and all the unexpected expenses life throws their way. This law is about ensuring that Coloradans who need energy assistance can access these programmes in a simple, efficient way no matter what part of the state they live in or who provides their utilities.”
SB26-002 requires all investor-owned gas and electric utilities in the state to have a standardised framework for Percentage of Income Payment Plans.
The other legislation, SB26-142, will help municipalities reach clean energy goals by streamlining the development of geothermal energy projects.
Representative Junie Joseph stated, “Geothermal energy – the heat beneath our feet – can lower utility costs and save Coloradans money in the long run. Our new bipartisan law, which goes into effect next month, will streamline geothermal energy projects at the local level. Once installed, geothermal is a low-cost renewable energy source that will save Coloradans money and bring us closer to our climate goals.”
The legislation will expand the use of geothermal energy by removing barriers that prevent local governments from more easily entering into agreements for new projects and creating new pathways for geothermal innovation.
Under the new law, local governments can enter into their own agreements to develop, operate and finance geothermal projects and provide that energy outside of their jurisdiction through collaboration with other local governments.