Establishes a program to fund feasibility studies for converting large multi-family residential units to geothermal energy.

The bill creates the multi-unit residential decarbonization initiative program, providing funding for feasibility studies to convert large, multi-family residential units to non-emitting renewable geothermal energy. Eligible applicants must own or control a multi-unit residential dwelling with over 65,000 square feet of gross floor area. Loans up to $50,000 per building can be used for feasibility proposals. The program is administered by the Rhode Island office of energy resources in coordination with the Rhode Island infrastructure bank.

Establishes a program to fund feasibility studies for converting large multi-family residential units to geothermal energy.

The bill creates the multi-unit residential decarbonization initiative program, providing funding for feasibility studies to convert large, multi-family residential units to non-emitting renewable geothermal energy. Eligible applicants must own or control a multi-unit residential dwelling with over 65,000 square feet of gross floor area. Loans up to $50,000 per building can be used for feasibility proposals. The program is administered by the Rhode Island office of energy resources in coordination with the Rhode Island infrastructure bank.