Maryland Strategic Energy Investment Fund - Mandated Uses - Climate Change Programs

HB 1040 mandates that Maryland's Strategic Energy Investment Fund allocate at least $365 million annually from fiscal years 2028 through 2032 specifically to climate change programs. This includes $100 million for incentives to replace gas stoves, resistive electric heating, and electric water heaters with energy-efficient alternatives like induction stoves and heat pumps; $50 million for expanding solar energy deployment through community solar and equity programs; and $25 million for electric vehicle infrastructure and zero-emission vehicle incentives. The bill directly affects Maryland residents (through home appliance rebates) and businesses (via solar and EV programs) by funding concrete climate action. These allocations are mandatory, ensuring dedicated state funding for measurable climate impact reduction over the specified period.