Recognizing the potential opportunities for affordable rental property owners, the California Housing Partnership Corporation reports on a pilot study of on-bill repayment (OBR) at five affordable rental home properties in the City of Santa Monica. The report finds that in order to see widespread adoption of OBR, building owners need a performance guarantee to protect the financial health of their properties.
Additional findings from the report include:
- Participants need deep technical assistance is needed to ensure accuracy of projected utility bill savings.
- Credit enhancement must be available to protect affordable housing owners from energy savings risks.
- Owner-metered savings alone will not cover the entire cost of a comprehensive retrofit.
- Access to third-party benchmarking services designed to support OBR financing needs is critical to success.
- Owners need extensive information to get comfortable with unsecured financing that relies on utility savings to make payments.
Click here to read the full report from the California Housing Partnership Corporation.
Click here to learn more about on-bill financing and on-bill repayment from the DOE.