Solar Energy and Energy Conservation Act explained

Longtitle:	Solar Energy and Energy Conservation Act of 1980
Enacted By:	96th
Signedpresident:	Jimmy Carter
Signeddate:	June 30, 1980

The Solar Energy and Energy Conservation Act of 1980 (SEECA) was legislation enacted by the 96th U.S. Congress. It has since been repealed. It was one of six acts enacted by the Energy Security Act of 1980.

• The act established the Solar Energy and Energy Conservation Bank in the Department of Housing and Urban Development.
• It provided that the Bank shall have the same powers as those granted to the Government National Mortgage Association (GNMA) by the National Housing Act. However, the legislation terminated the Bank after September 30, 1987.
• Established as part of the Bank, an Energy Conservation Advisory Committee to assist the Bank in carrying out the activities of the Bank which relate to residential and commercial energy conserving improvements.
• Established as part of the Bank, a Solar Energy Advisory Committee to provide advice to assist the Bank in carrying out the activities of the Bank which relate to solar energy systems.

Source:^[1]

Solar Energy and Energy Conservation Bank

The SEECA created the Solar Energy and Energy Conservation Bank, which in turn had the following powers before SEECA had been repealed:

• To purchase loans and advance credit for energy conserving systems or solar energy systems.
• To purchase mortgages secured by newly constructed homes with solar energy systems.

Source:^[2]

Due to the scheduled expiration, pursuant to SEECA law, of the Bank's authorization, the Bank ceased operations in 1988.^[3]

References

1. S.932 - 96th Congress (1979–1980): Energy Security Act | Congress.gov | Library of Congress
2. Charter Act With New Footnotes (ginniemae.gov)
3. Web site: Office . U. S. Government Accountability . Use of Appropriated Funds for the Solar Energy Conservation Bank U.S. GAO . 2024-03-23 . www.gao.gov . en.