The proposed legislation, General Assembly Raised Bill No. 6929, aims to establish a thermal energy network grant and loan program under the jurisdiction of the Commissioner of Energy and Environmental Protection, effective October 1, 2025. The bill defines key terms such as "thermal energy," which refers to heating or cooling derived from non-greenhouse gas-emitting fuel sources or geothermal energy, and "thermal energy network," which encompasses the infrastructure used for distributing thermal energy. The program will support the development of thermal energy network projects by providing grants and loans to a variety of eligible recipients, including local governments, public authorities, and private entities.

Under the program, the Commissioner will issue requests for proposals and may award financial assistance for community planning, design, engineering services, and infrastructure costs related to thermal energy networks. Recipients of grants or loans will be required to submit annual reports for three years detailing the status of their projects to relevant regulatory authorities. The bill emphasizes collaboration among eligible recipients and allows for the establishment of financing mechanisms to leverage additional funding for these initiatives.