New legislation (Bill HB 0216), sponsored by Maryland State Senator William C. Smith Jr., has been passed, introducing energy amendments to the Maryland Condo Act. The Bill will allow condominium Boards to grant more than one-year leases for installing and using leased clean energy equipment. This should make it easier for condos to approve EV chargers, solar arrays, and energy storage systems.

The Implications

This new law is most likely to be applied in the form of Power Purchase Agreements (PPAs) for solar arrays. Under a PPA, the Condominium Association would not have to absorb the capital expense for a solar array and could instead enter into an agreement to purchase the electricity produced from it at a competitive rate.

Potential Benefits to the Association

  1. Renewable energy generation
  2. Reduced utility costs
  3. Long-term energy utility cost and budget certainty

Options

Nania Efficiency & Solar Group (Nania ESG) is a turnkey solution for Boards interested in exploring solar. Our team can assist Boards and Managers in everything from determining initial feasibility to maximizing rebates/incentives and running a competitive RFP. We typically produce savings of over 10%.

Feel free to reach out with any questions.

Reference:

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/hb0216?ys=2024RS#