(a) The Division of Climate, Coastal and Energy shall have the power to perform and shall be responsible for the performance of all the powers, duties and functions heretofore vested in the Delaware Energy Office, also referred to as the "Energy Office," "State Energy Office," "DEO" and "State Energy Coordinator," pursuant to: Chapter 76 of Title 16; Chapters 1, 10 and 15 of Title 26; this chapter; and Chapter 64 of this title. (b) The Department of Natural Resources and Environmental Control shall manage the Energy Efficiency Investment Fund. The Fund shall be used to incentivize investments in energy efficiency by consumers or users of gas or electricity whose purchase of those commodities from a distributor is subject to the public utility tax on gas or electricity imposed by Chapter 55 of Title 30. The Department shall support implementation of projects that reduce the use of gas, electricity, or other sources through the issuance of competitive grants, low-interest loans, or other financing support from the Fund. The Department shall establish the contents and deadline for applications for financing from the Fund and shall give preference to those applications proposing projects that are anticipated to produce the greatest reduction in energy consumption per Fund dollar invested, improve environmental performance, spur capital construction and facility modernization, encourage job retention and creation, and are likely to be substantially complete no later than 1 year following the issuance of financing from the Fund. In no event shall the Fund provide grant funding for more than 60% of the costs of any proposed project or support projects already receiving support from the Green Energy Fund under this chapter or the Strategic Fund under subchapter II of Chapter 87A of this title. The Fund shall be administered in consultation with the Sustainable Energy Utility and the Department. The Department shall make an annual report on the use of the Energy Efficiency Investment Fund and the value of energy savings resulting therefrom to the Governor's Energy Advisory Council and the General Assembly not later than August 30 of each year after 2011. The Department shall retain no more than 4 percent of the Fund for expenses to administer this section. All terms used herein that are defined in Chapter 55 of Title 30 shall have the same definition used in that chapter.
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