By April 1, 2014, the Energy Conservation Management Board and the Clean Energy Finance and Investment Authority (CEFIA) must consult with electric distribution companies and gas companies to develop a residential clean energy on-bill repayment program. The program will be financed by third-party, private capital and managed by CEFIA. The program will prioritize projects by cost-effectiveness, and the repayment term of any project cannot exceed the expected life of the improvements. Monthly payments cannot exceed the amount of the customer's bill before the project was installed. Residential customers of any electric distribution company or gas company will be eligible for the program.