A bill to establish a Solar Energy Loan Administration to assist homeowners in purchasing and installing solar heating or combined solar heating and cooling equipment, including solar hot water systems, by providing low-interest long-term loans.
Solar Energy Equipment Loan Act - Establishes as an independent agency of the executive branch the Solar Energy Loan Administration to provide financing to homeowners for the purchase of solar-powered residential heating and cooling equipment. Authorizes the Administrator of the Solar Energy Loan Administration to make loans, repayable at 2 percent interest, for the purchase and installation of such equipment. Requires that equipment meet such minimum standards as are developed under the Solar Heating and Cooling Demonstration Act of 1974.
Authorizes up to $100,000,000 to be appropriated to provide an initial amount for the program under this Act.
Referred to House Committee on Banking, Currency and Housing.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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