A. The following types of renewable energy improvements (including any lease thereof) are eligible for financing under the Act and ordinance when permanently installed on real property within the District:
1. Photovoltaic Systems;
2. Solar Thermal Systems;
3. Geothermal Systems; and
4. Wind Energy Systems.
The financed systems may include the cost of labor, materials, accessories, framing, and items necessary or incidental to the installation of the systems.
B. The costs of energy efficiency improvements (including any lease thereof) that are permanently installed on or affixed to property, which are designed to reduce energy consumption, or energy related operating costs, and installed or affixed to a property in conjunction with an eligible renewable energy improvement for the purpose of making the renewable energy improvement more cost effective, shall be eligible for financing through the District as part of the costs of the renewable energy improvement, so long as the costs of all improvements ancillary to the renewable energy improvement shall not exceed forty-nine percent (49%) of the total amount financed. The District may promulgate policies to further identify eligible energy efficiency improvements.
C. The District shall only finance renewable energy improvements (including any lease thereof) for which the reasonably estimated economic benefits, including, but not limited to, energy cost savings, maintenance cost savings, and other property operating savings expected from the improvements, including efficiency improvements pursuant to subsection B. above, during the financing period, is equal to or greater than the incremental principal cost of the improvement. (Ord. 2018-2, 9-4-2018)