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Guam roundtable pushes renewable-energy financing to lower costs for affordable housing
Summary
Stakeholders at a March 5 roundtable told the Committee on Municipal Affairs, Tourism and Housing that financing tools and policy changes — including PACE, an energy-conscious mortgage approach and a funded housing trust — could cut monthly energy costs and help sustain homeownership for low-income residents.
Chair Santa Massey, chair of the Committee on Municipal Affairs, Tourism and Housing, convened a March 5 roundtable on affordable housing and renewable energy and heard from government housing officials, renewable-energy trade groups and local developers about financing and policy tools to lower household energy costs.
The meeting focused on pairing solar and energy-efficiency measures with affordable-housing construction and ownership through targeted financing. Martin Beneventi, president of Guam Housing Corporation and chairman of the Affordable Housing Coordinating Council, told the committee that power and water bills are contributing to foreclosure and program dropouts: "They were given for almost free. They called it the dollar home... after not being able to pay for their power and water... they lost the houses," he said, urging the group to pursue renewable-energy solutions.
The Guam Renewable Energy Association (GRIA) outlined a suite of finance options and technical measures it says could reduce operating costs for new and existing low-income homes. "We are a trade association... we're a…
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