ANNAPOLIS, MD – DHCD would be the lead agency in the implementation of five of the nine proposals that Maryland submitted to the Public Service Commission on Friday for utilizing the $113.5 million Customer Investment Fund. See the governor’s release for details on the proposals.
The Customer Investment Fund was established by the commission earlier this year as a condition of the merger between Constellation Energy Group and Exelon Corp.
Over a 10 year period, the state’s proposal is projected to save energy, jobs and more than $278 million dollars for BGE customers. The proposed programs will also affect almost 27,000 families, more than 12,000 small business and non-profit organizations, tens of thousands of teachers, students and parents, and over 200 Maryland manufacturers.
The proposals include $44 million to provide weatherization services to an estimated 4,000 households within Baltimore Gas & Electric Company’s service territory; $15 million over a three-year period for a loan program to help small businesses become more energy efficient; and $9 million over a three-year period to improve the energy efficiency of affordable rental housing. Another proposal calls for $5 million over three years to allow Maryland Mortgage Program homebuyers to borrow money to improve the energy efficiency of their new home.
The commission will hold a hearing on the proposals on Aug. 7.
DHCD’s very successful weatherization program had been scheduled to wind down significantly this year as Recovery Act funds expire. Since July 2009, the program has helped more than 11,000 households statewide become more energy efficient, safe and healthy; it is helping low income families save money; it is creating jobs; and it is helping Maryland build the green economy that is so important to the future of the state.
The Department of Energy has estimated that each household retrofitted through the program will save on average $350 a year on their energy bills – this is money those families can use on other essential expenses, such as school supplies or health care or transportation.