It is raining dollars on the Governor’s Energy Office.
The agency, which promotes renewable energy and efficiency and employs 30, expects its budget to skyrocket to $50 million this year — thanks to the economic-stimulus bill signed by President Barack Obama last month.
Its prior-year budget was roughly $4 million.
Energy Office director Tom Plant said the federal dollars should flow into the agency as early as April 1.
“The significance of the day is not lost on me,” Plant quipped at a conference Tuesday. “I hope we get the money.”
Sponsored by the Energy Office and other state agencies, the conference discussed how utilities, energy companies and customers could benefit from the stimulus package, known as the American Recovery and Reinvestment Act.
Plant said that his office would need to hire more employees to keep up with the cash infusion and that the agency was looking into areas to staff up.
“It’s a challenge, but a good challenge to have,” he said.
The Energy Office also expects its weatherization program to grow to $80 million over two years, up from its current funding of $9 million a year. The program helps customers save on their energy bills in various ways such as caulking doors and windows or blowing insulation into walls.
Hundreds of thousands of additional dollars from the stimulus package’s $3.2 billion energy-efficiency and conservation block grants could boost the Energy Office’s other programs.
“There’s a lot of money on the table, more than you know about,” said Ron Binz, chairman of the Colorado Public Utilities Commission.
Gargi Chakrabarty: 303-954-2976 or gchakrabarty@denverpost.com
Energy Office uses of stimulus money
•More than $2 billion in proposed electric-transmission projects in Colorado could benefit from funding and loan guarantees.
•$40 million per year for two years will go toward weatherization for the state’s low- income residents.
•$50 million will be used to reduce barriers to energy efficiency and renewable energy by improving access to information, offering financing packages and getting more workers trained to install energy-efficient and renewable projects.
•Funding for cities and counties to provide code training and assistance in establishing local building standards.
Gargi Chakrabarty
