1. The Sustainable Energy Program:
Legislative Update
November 21, 2013
Avi Jacobson
Senior Sustainable Energy Coordinator
Washington State Housing Finance Commission
avi.jacobson@wshfc.org
206-254-5359
@Avi_Jacobson

2. The Sustainable Energy Program
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Introduction
Bond Financing
Qualified Energy Conservation Bonds
Sustainable Energy Trust
Future Opportunities
Questions

3. Bond Financing Tools for Energy
Efficiency & Renewable Energy
• Conduit Bond Issuer
o Industrial Development Bonds
o Small manufacturing, Infrastructure
o Multifamily Housing Bonds
o Acquisition/Rehabilitation/Efficiency Improvements
o 501c3 Bonds
o YMCA Greater Seattle ($2,000,000)
o Compass Health ($500,000)
o More in Pipeline
o Qualified Energy Conservation Bonds

4. WSHFC as State QECB Clearinghouse
• Washington State:
o $67.8M Allocated across WA
o ~$60M Issued/Committed
o $23.2M for Private Activity
o Swauk Wind 4.25MW ($9,000,000)
o Green Community Programs with King County and
Kitsap County enabled greater private investment
o WSHFC aggregation key to unleashing pent up
demand
o Recognized as best practice by DOE
o Being replicated in other states

5. The Sustainable Energy Trust:
Green Home Improvement Fund
• Rehab Project
– Targeting at least 20% Efficiency Improvement
– Max incentive at 40% Improvement
• New Construction Project
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– Targeting at least 10% Efficiency Improvement over code
– Max Incentive at 20% Improvement
Accountability: Audit in/Audit out
Affordability Goals
Performance-based rate setting
10 Homes Financed w/Green Canopy Homes
Funds Revolving 9-10 months

6. The Sustainable Energy Trust
• Loan Program: Improve Access to Capital
• $2,000,000 Fund
• 20% Participation, up to $500,000
• In development/Under Consideration…
• Financing pre-development & energy audits?
• Credit Enhancement Mechanisms?
• Finance pre-payment of lease for distributed
generation?
• Pilot Programs flexible & adaptable to market needs
• Fostering Business Model Innovation

7. The Sustainable Energy Program:
Legislative Update
November 21, 2013
Avi Jacobson
Senior Sustainable Energy Coordinator
Washington State Housing Finance Commission
avi.jacobson@wshfc.org
206-254-5359
@Avi_Jacobson