Dartmouth webinar


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Dartmouth webinar

  1. 1. The College Sustainability Report Card (National)The Billion Dollar Green Challenge (National Challenge)Leaders in Energy Efficiency Financing (Regional Network)The Sustainable Endowments Institute
  2. 2. Why choose a Green Revolving Fund?• Transform expense into investment• Convey reputational benefits• Catalyze a culture shift• Alleviate pressure from tight budgets• Reduce internal transaction costs• Institutionalize a mechanism for reinvesting• Performance Tracking• Seize new fundraising opportunities
  3. 3. Anatomy of a Green Revolving Fund• Seed Capital• Accounting Systems• Fund Oversight• Fund Operations and Project Selection• Project Criteria• Measuring Savings• Long-term Strategy
  4. 4. 10 Steps to a Successful GRF1. Do your homework2. Select your model3. Access opportunity and run the numbers4. Build buy-in5. Secure seed capital6. Establish financial flows7. Launch and manage8. Implement projects9. Track, analyze, and assess performance10. Optimize and improve
  5. 5. • Financial Goals• Environmental Goals• Education or Community Goals• Types:EfficiencyInnovation & EngagementHybrid• Champions• Sources of Capital• Fund Size• Project Selection• Payback Criteria
  6. 6. • Champions• Sources of GRF Capital• Fund Size• Fund Structure & Management• Payback Criteria• Interest Charges
  7. 7. • ROI & Other Benefits• Reported payback• Loan vs. Accounting Model• Estimating & Verifying Performance• Tracking Savings• GRF Restrictions
  8. 8. 01020304050607080NumberofGRFsYearGrowth of Green Revolving Funds: 1992-2012 N = 79
  9. 9. 1611178271214170510152025300-4,999 5,000-14,999 15,000-24,999 25,000+NumberofInstitutionsDistribution of GRFsDistribution of Green Revolving Fund Institutionsby Enrollment Size20112012N = 70
  10. 10. 405106260510152025303540450-49k 50-99k 100-249k 250-499k 500-749k 750k+NumberofInstitutionsEndowment Value per StudentDistribution of Green Revolving Funds by EndowmentValue per StudentN=68
  11. 11. 3823336 7251639051015202530354045NumberofInstitutionsChampionsGreen Revolving Fund ChampionsN= 69
  12. 12. 83523276352140510152025NumberofInstitutionsType of fundingGreen Revolving FundCommon Sources of CapitalN= 59
  13. 13. 1415 15222716051015202530Above $1 million $100k - $999k Under $100kNumberofInstitutionsSize of GRFsNumber of Green Revolving Fundsby CapitalizationSeries1Series2N= 65
  14. 14. Institution Fund Name Est. Fund Commitment Projects ROIWestern Michigan University Quasi-Revolving Fund 1980 $385,000 101 47%Stanford University Energy Retrofit Program 1993 $2,000,000 381 27%Harvard University Green Loan Fund 2001 $12,000,000 200 29.9%Stanford University Whole Building EnergyRetrofit Program2004 $8,000,000 25 22%Boston University Sustainability RevolvingLoan Fund2008 $1,203,000 13 57%Iowa State University Live Green RevolvingLoan Fund2008 $1,000,000 13 24%University of Colorado,BoulderEnergy and ClimateRevolving Fund2008 $521,186 80 37.8%Caltech Caltech EnergyConservationInvestment Program2009 $8,000,000 30 24%Swarthmore College Renewing Fund forResource Conservation2009 $43,500 N/A 28.6%University of Denver Energy Reserve Fund 2009 $6,570,297 32 53%
  15. 15. Fast Facts Total green revolving funds: 79 GRFs at private institutions: 42 GRFs at public institutions: 37 U.S. states represented: 31GRF Size Smallest fund: $12,000 (Bucknell University) Largest fund: $13 million (University of Vermont) Median fund size: $400,000 Average fund size: $1.41 millionReturn on Investment Minimum reported ROI: 20 percent Maximum reported ROI: 57 percent (Boston University) Median reported ROI: 28 percentPayback Minimum reported average project payback: 1.6 years Maximum reported average project payback: 7.8 years Average reported average project payback: 4.4 years
  16. 16. Green Revolving Investment Tracking System (GRITS)
  17. 17. Dartmouth Green Revolving Loan FundFOM ProjectsCommunity Fund
  18. 18. Dartmouth Green Revolving Loan FundFOM ProjectsCommunity Fund
  19. 19.  Existing accounting structures Organizational entanglements The lighting speed of large organizations Sustainability Project bandwidth and priorities
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