This bill clarifies that the Maine Clean Energy and Sustainability Accelerator may provide capital to qualified projects in the form of direct loans. It also directs the Efficiency
41 Maine Trust to establish and administer a renewable energy generation and grid technology
42 pilot project through the Maine Clean Energy and Sustainability Accelerator. Under the
43 pilot project, the trust must provide financing and investment services for renewable energy
44 generation and grid technology such as storage to support clean energy distribution,
45 including microgrids and smart grid applications. Within 24 months of the effective date
46 of this legislation, and as long as sufficient funds are available, the trust must use no less
47 than $1,000,000 of the funds held within the accelerator to provide all types of investments
48 and financial services authorized under the accelerator to renewable energy generation and
49 grid technology projects. By January 29, 2028, the trust must provide a report on the pilot
50 project to the joint standing committee of the Legislature having jurisdiction over energy
51 matters, and the committee may report out a bill related to the report to the Second Regular
52 Session of the 133rd Legislature.

Statutes affected:
Bill Text LD 1700, HP 1135: 35-A.10129