SSC2011_Lori Bamberger PPT


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  • This is national; transportation is much larger in california than nationally.
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  • SSC2011_Lori Bamberger PPT

    1. 1. Framing the Challenge & Opportunity: Residential Buildings<br />National Housing Conference<br />September 26, 2011<br />Lori Bamberger <br />Seeding Markets, Sustaining Communities<br />
    2. 2. The Framework for Residential Energy Financing Innovations<br /><ul><li>The Opportunity & What’s at Stake</li></ul>Carbon<br />Multifamily & Single Family<br /><ul><li>Barriers
    3. 3. Local and National Innovations</li></ul>Information Perfecting (Labels, Disclosures)<br />Marketing<br />Financing<br />
    4. 4. Residential buildings make up a large chunk of the nation’s emissions<br />Buildings account for 43 percent of U.S. CO2 emissions<br />Residential buildings account for almost half of the built environment’s emissions<br />So, residential buildings account for 21 percent of all U.S. CO2emissions <br />And, the vast majority of CO2 emissions come from single family, owned homes <br />that will still exist in 2050…<br />Source: Pew Center on Global Climate Change and Nehemiah Stone<br />
    5. 5. Residential emissions have increased substantially in the last 18 years<br />CO2 emissions from residential buildings increased much faster than all sectors except commercial operations between 1990 and 2008 and surpassed the overall average increase by over 10 percentage points <br />All sectors, 15.9%<br />Source: Energy Information Administration<br />
    6. 6. The Multifamily Opportunity<br />35 Million Families In all U.S. Multifamily<br />Approximately 1/3 of all Californian households (~4.2 million)<br />Federally Subsidized Subset: Big, Old Buildings<br />34,614 HUD subsidized buildings <br />5 million HUD and LIHTC subsidized, affordable housing units<br />Enormous Federal Energy Cost Outlay<br />$6.8 billion in federal HUD expenditures: 15–20% of HUD’s budget<br />More billions in LIHTC, USDA, and VA subsidized housing<br />29% ($9 billion) in Energy Savings estimated from MF alone<br />$1.9 billion in savings estimated from HUD’s MF potential<br />Large Aggregation Opportunity due to fewer owners<br />
    7. 7. Older MF buildings increase the Energy CCC’s: Consumption, Costs, & Carbon Emissions<br />
    8. 8. The Single Family Opportunity<br /> Approximately 75 million households <br /> Approximately 8.3 million single family units in California<br />Nearly 1/3 are low- or moderate-income<br />Many don’t qualify for energy assistance<br /> Homes are the least efficient, most costly to operate<br />Energy Costs are Rising<br />Average national energy costs: $1997/household<br />In some parts of the US, some energy spikes approached levels close to the subprime ARM spike<br />Saving Energy can build family savings & stabilize neighborhoods<br />Modest investments ($3,000 to $15,000) can yield 20-40% energy and financial savings<br />The average single family savings estimated at approximately $650/year. <br /> Foreclosure stabilization loan/mod efforts seek savings of $50-$100/month<br />
    9. 9. The California single family home example<br />Approximately 2/3 of California Residents Live in SF homes (~8.3 Million homes)<br />Source: California Long Term Energy Efficiency Strategic Plan (2008); IEPR (2007)<br />
    10. 10. The costs of energy inefficiency exacerbate existing financial challenges faced by middle income families<br />The lowest income groups pay the highest proportions of their income on home energy<br />Share of household income spent on home energy<br />Household Income<br />
    11. 11. Financial and Other Barriers Inhibit Scaling<br />Perception<br />Utility Costs Not disclosed at sale<br />Asset Labels typically apply to new homes<br />Privacy laws<br />Financing Challenges in both single family and multifamily<br />First cost hurdles & lack of affordable financing<br />Data<br />Early, patient and innovative capital <br />Regulatory Silos<br />Multifamily: misaligned incentives; prohibitions on project reserves/receipts<br />Single Family: Enormous Fragmentation (75 million different owners), mortgage crisis<br />Workforce Issues<br />
    12. 12. Local innovations are scalable, replicable, and point the way forward<br />Information Perfecting & State and Local Policy<br />Disclosure: Green MLS, Utility Bill, Asset Ratings<br />Code enhancements<br />Financing Innovations<br />Standalone Energy Retrofit Lending<br />Multifamily Energy Retrofit Funds <br />PPAs and ESAs<br />Onbill Financing (Enterprise Cascadia, Blue Tree, and Lori Bamberger Consulting)<br />Tax-Lien Financing (for commercial and multifamily)<br />Public Housing and Freezing the Base<br />Embedded Financing <br />Workforce Initiatives<br />Utility Initiatives & Incentives<br />
    13. 13. Our Work & How to Reach Us<br /><ul><li>Affordability, energy financing & innovations</li></ul>Partnership-building & Cross-Sectoral Efforts<br />Policy Formulation <br />Financing Innovations & Implementation<br /><ul><li>Reaching Us:</li></ul>Lori Bamberger Consulting<br />Thoreau Center for Sustainability<br />The Presidio<br />1012 Torney Avenue<br />San Francisco, CA 94129<br />415-400-8621<br /><br />