Preliminary Results of the Ouachita Electric HELP PAYS® Program
Earlier this year, the Arkansas Public Service Commission voted unanimously to approve an opt-in tariff for cost effective energy efficiency investments at the request of Ouachita Electric Cooperative. 1 Within 45 days, the utility switched from offering loans for energy efficiency to offering inclusive financing called HELP PAYS®, a tariffed on-bill program based on the Pay As You Save® (PAYS®) system.
With HELP PAYS, the utility can serve all customers, regardless of income, credit score, and renter status. The tariffed terms provide immediate net savings for the customer with no new debt obligation, and it assures the utility a low risk path to cost recovery with a charge on the bill that is less than the estimated savings from the upgrades. The utility assures the upgrades continue to function throughout the period of cost recovery, and once cost recovery is complete, all upgrades belong to the owner.
Download the report HERE!