This presentation given by CEFIA's Director of Commercial and Industrial Programs gives an overview of C-PACE characteristics critical to a successful commercial energy efficiency program.
Coalition for Green Capital and the Green Bank Movement CGC CGC
The Coalition for Green Capital is a nonprofit organization that advocates for the establishment of green banks at the state and federal level to increase financing for clean energy projects. The Coalition works with states to develop green bank models, designs financial products to stimulate clean energy markets, and brings states together to collaborate. Green banks lower financing costs for clean energy by accessing low-cost capital and reusing funds multiple times to attract greater private investment over time.
This document summarizes potential incentives, mandates, and legal issues related to green building in Michigan. It discusses various bills proposed in Michigan that would provide tax credits for green building. It also outlines existing federal incentives and describes how some municipalities have mandated green building standards for public projects. The document notes there may be legal challenges to mandates based on claims of vagueness. Additionally, it discusses how green building may create new contractual and professional risks that parties should address to avoid disputes.
This document discusses the legal risks associated with green building construction projects. It identifies key risks such as financial risks, standard of care risks, performance risks, and regulatory risks. It provides examples of legal issues that have arisen in green building projects and offers recommendations for mitigating risks through specific contract provisions that clearly define certification standards, responsibilities of parties, and performance expectations.
The document discusses Property Assessed Clean Energy (PACE) financing for renewable energy and energy efficiency projects. PACE provides an alternative to traditional bank loans, allowing up to 100% financing for qualifying projects. Repayments are secured through a municipal assessment lien. The document outlines the benefits of PACE financing and New York's Open C-PACE program. It provides case studies of commercial and multi-family building renovations that utilized PACE funding. The document encourages municipalities to enable Open C-PACE through local laws and agreements in order to provide PACE financing options to property owners.
OEDA Infrastructure Puzzle Power Point 3-3-15David Robinson
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
The Port Authority of Greater Cincinnati was established in 2000 and reformed in 2008 to expand its public financing abilities and revitalize communities. It works with the Hamilton County Land Reutilization Corporation (Land Bank) to return vacant properties to productive use. They focus on key areas and work with partners to redevelop challenging "broken" sites through tools like grants, infrastructure funding, and assembling development teams. Their goal is to stabilize neighborhoods through housing rehabilitation, demolition of blighted buildings, and partnering with community organizations on targeted strategies.
The document summarizes the Florida Community Loan Fund's (FCLF) green initiatives and loans for nonprofit affordable housing projects. FCLF established a Green Building Loan Pool with subsidized rates and grants to encourage nonprofits to develop green affordable housing and facilities. Several projects received funding but faced delays due to market conditions. Lessons indicated that green certifications increased costs while incentives alone did not ensure projects' economic viability. Moving forward, FCLF will tweak its loan programs and work to attract more investments to further support nonprofits developing green projects.
This document provides an overview of legal risks and liability in green construction projects. It identifies the top risks as financial, standard of care, performance, consultants/subcontractors, and regulatory. It discusses how green building standards and mandates are evolving, and how contracts should specify standards, allocate responsibilities, and manage expectations to mitigate risks like lost incentives or failure to meet certifications. Contracts need provisions for green features to avoid unintended warranties or liability from evolving materials and standards.
Coalition for Green Capital and the Green Bank Movement CGC CGC
The Coalition for Green Capital is a nonprofit organization that advocates for the establishment of green banks at the state and federal level to increase financing for clean energy projects. The Coalition works with states to develop green bank models, designs financial products to stimulate clean energy markets, and brings states together to collaborate. Green banks lower financing costs for clean energy by accessing low-cost capital and reusing funds multiple times to attract greater private investment over time.
This document summarizes potential incentives, mandates, and legal issues related to green building in Michigan. It discusses various bills proposed in Michigan that would provide tax credits for green building. It also outlines existing federal incentives and describes how some municipalities have mandated green building standards for public projects. The document notes there may be legal challenges to mandates based on claims of vagueness. Additionally, it discusses how green building may create new contractual and professional risks that parties should address to avoid disputes.
This document discusses the legal risks associated with green building construction projects. It identifies key risks such as financial risks, standard of care risks, performance risks, and regulatory risks. It provides examples of legal issues that have arisen in green building projects and offers recommendations for mitigating risks through specific contract provisions that clearly define certification standards, responsibilities of parties, and performance expectations.
The document discusses Property Assessed Clean Energy (PACE) financing for renewable energy and energy efficiency projects. PACE provides an alternative to traditional bank loans, allowing up to 100% financing for qualifying projects. Repayments are secured through a municipal assessment lien. The document outlines the benefits of PACE financing and New York's Open C-PACE program. It provides case studies of commercial and multi-family building renovations that utilized PACE funding. The document encourages municipalities to enable Open C-PACE through local laws and agreements in order to provide PACE financing options to property owners.
OEDA Infrastructure Puzzle Power Point 3-3-15David Robinson
This document discusses infrastructure financing strategies for economic development projects. It introduces the concept of an "Infrastructure Puzzle" where multiple funding sources must be pieced together to finance infrastructure projects. These sources include local funding mechanisms like tax increment financing (TIF) and special assessment districts, as well as state, federal, and private sector funding. The document provides details on TIFs, including how they work, eligible project costs, and strategies for converting future TIF revenues into upfront funding for projects. It also discusses other local funding tools and developer-funded infrastructure options.
The Port Authority of Greater Cincinnati was established in 2000 and reformed in 2008 to expand its public financing abilities and revitalize communities. It works with the Hamilton County Land Reutilization Corporation (Land Bank) to return vacant properties to productive use. They focus on key areas and work with partners to redevelop challenging "broken" sites through tools like grants, infrastructure funding, and assembling development teams. Their goal is to stabilize neighborhoods through housing rehabilitation, demolition of blighted buildings, and partnering with community organizations on targeted strategies.
The document summarizes the Florida Community Loan Fund's (FCLF) green initiatives and loans for nonprofit affordable housing projects. FCLF established a Green Building Loan Pool with subsidized rates and grants to encourage nonprofits to develop green affordable housing and facilities. Several projects received funding but faced delays due to market conditions. Lessons indicated that green certifications increased costs while incentives alone did not ensure projects' economic viability. Moving forward, FCLF will tweak its loan programs and work to attract more investments to further support nonprofits developing green projects.
This document provides an overview of legal risks and liability in green construction projects. It identifies the top risks as financial, standard of care, performance, consultants/subcontractors, and regulatory. It discusses how green building standards and mandates are evolving, and how contracts should specify standards, allocate responsibilities, and manage expectations to mitigate risks like lost incentives or failure to meet certifications. Contracts need provisions for green features to avoid unintended warranties or liability from evolving materials and standards.
The document discusses plans for an upcoming concert by the Sam Tet Symphony Orchestra, including rehearsal schedules, concert program, uniforms, guest list, lighting, and more. Practice is scheduled regularly leading up to the concert, including full rehearsals to test equipment. The concert program consists of 4 groups performing a variety of pieces. White shirts and black pants will serve as the concert uniform. Details of the program booklet, backdrop images, and lighting levels for different parts of the concert are also outlined.
HubSpot Webinar | Orchestra Directs New Sales with Social MediaHubSpot
Social media is everywhere, unless you live under a rock. But proving ROI and connecting social media to sales seems ever elusive.
Brad Windecker, President of Orchestra LLC, a B2B software and services company that helps small and midsize companies solve business problems by extending SAP, shares social media successes and lessons learned to help you deliver leads and sales through this fast growing channel.
Erin E. Carey seeks a position in arts administration and has over 10 years of experience in orchestra management, marketing, fundraising, and audience development. She holds a Master's degree in Arts Administration from the University of Oregon and has worked for several orchestras and arts organizations in Oregon. Her background includes positions in marketing, development, and audience outreach.
Arts Marketing and Cultural Policy: Orchestra audience development in the U.S...ykuo2
The document outlines the research topic of comparing orchestra audience development strategies between the US and Taiwan. It discusses researching the theories, experiences, and case studies around attracting audiences. The purpose is to analyze effective marketing strategies to attract more orchestra audiences internationally.
This document summarizes a presentation on optimizing Zabbix performance through tuning. It discusses identifying and fixing common problems like default templates and database settings. Next, it covers tuning Zabbix configuration by adjusting the number of server processes and monitoring internal stats. Additional optimizations include using proxies to distribute load, partitioning historical tables, and running Zabbix components on separate hardware. The summary emphasizes monitoring internal stats, tuning configurations and databases, disabling housekeeping, and reviewing additional reading on tuning MySQL, PostgreSQL and Zabbix internals.
Bracken Hendricks | Innovation Showcase | 2014 Solar SymposiumGW Solar Institute
This is an Ignite Style presentation (five minute max presentations with slides that automatically advance every 15 seconds) that was a part of the 2014 Solar Symposium Innovation Showcase.
Bracken Hendricks, CEO, Urban Ingenuity
PACE and Affordable Housing: Find out how Property Assessed Clean Energy (PACE) financing can fund clean energy retrofits and help solve broader financial challenges for affordable housing developers, owners, and property managers by providing a new capital solution for affordable housing preservation.
Connecticut Green Bank Stakeholder Webinar Quarter 4 FY17RudySturkCGB
Connecticut Green Bank Stakeholder Webinar Quarter 4 FY17 (presented Aug. 8, 2017) featuring CEO and President Bryan Garcia. A video of the presentation is also available on ctgreenbank.com.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses techniques like loan loss reserves, subordinated debt, and performance incentives to enhance these products and attract private capital at lower costs. This allows more homeowners to adopt solar and transitions the market from relying on subsidies to sustainable financing.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses credit enhancements like loan loss reserves and subordinated debt to attract private capital at lower costs and enable more favorable financing terms that expand access to solar for homeowners.
Carl Fawcett describes the Mass Save HEAT 0% Loan Program for the ACI conference including pilot and program history, characteristics of the program, types of loans and other loan details, lending results and statistics, the HEAT Loan process, and trends related to volume and size. He also covers how contractors can best help their customers successfully through the steps of the process.
New Opportunities in Property Assessed Clean Energy (PACE)Abby Johnson
PACE Financing is an innovative financial product where commercial building owners can upgrade their properties with energy efficiency and clean energy solutions with no money down for up to 20 years.
Mark Lundine, Ohio Department of Development, presented this presentation at the Heritage Ohio Historic Tax Credit Workshop in Springfield, Ohio on May 6, 2011.
The document provides an overview of federal and state historic tax credits (HTC) for rehabilitating income-producing historic buildings. It discusses the qualifications for the credits, how to apply, calculating qualified rehabilitation expenditures, cost certifications, case studies, and tax implications. The 20% federal HTC is a dollar-for-dollar reduction in tax liability, while Pennsylvania offers a 25% state credit. Proper use of the credits can provide millions in equity for rehabilitation projects.
This proposal suggests expanding the Pay As You Save (PAYS) financing model to provide $10 billion in financing for distributed clean energy upgrades and resources. PAYS allows utility customers to purchase energy efficiency upgrades and renewable energy systems through a voluntary tariff on their utility bill. There are no upfront costs, ongoing savings are guaranteed, and the obligation transfers with the property. This could expand access to financing for rural and low-income customers in the US and globally, growing clean energy investment from $10 million to $3 billion annually in rural America and over $10 billion total worldwide.
Energy Savings for Hotel & Lodging IndustryRayco Energy
Rayco Energy, California's Energy Consultant and Retrofit Contractor presented on facilities energy saving for the Hotel and Lodging Industry at the California Hotel & Lodging Association's annual tradeshow on May 21, 2015 in San Jose, CA
This document provides an overview of HUD/FHA programs, Low Income Housing Tax Credits, and Private Activity Bonds for financing affordable housing development. It discusses the history and features of various HUD active programs including sections 221(d)(3), 221(d)(4), 223(f), 231, 232, and 242. A case study demonstrates an example HUD underwriting analysis. It also summarizes how Low Income Housing Tax Credits and Private Activity Bonds can be used to finance affordable housing development through public-private partnerships.
On-the-Ground Challenges and Opportunities in Solar ImplementationFrederick Heinle
The document discusses the key steps and considerations for developing a solar energy project, including site selection, financing options, and important project documents. It outlines the four main types of players in a project and the typical four steps of planning, financing, construction, and operation. The solar energy market is growing rapidly but may see a short-term decrease in installations before continuing growth. Lower prices and policy support are helping solar compete with conventional energy sources.
Downtown & Infill Tax Increment Districts: Strategies for SuccessVierbicher
This document outlines seven strategies for successful downtown and infill tax increment financing (TIF) districts. It discusses the need for longer timeframes and greater resources for these types of TIDs. It emphasizes staying up-to-date on TID status and being prepared to adapt. It also stresses the importance of matching public improvements to private development timelines and leveraging other funding sources. The document provides case studies of specific cities that have effectively implemented these strategies.
The document discusses plans for an upcoming concert by the Sam Tet Symphony Orchestra, including rehearsal schedules, concert program, uniforms, guest list, lighting, and more. Practice is scheduled regularly leading up to the concert, including full rehearsals to test equipment. The concert program consists of 4 groups performing a variety of pieces. White shirts and black pants will serve as the concert uniform. Details of the program booklet, backdrop images, and lighting levels for different parts of the concert are also outlined.
HubSpot Webinar | Orchestra Directs New Sales with Social MediaHubSpot
Social media is everywhere, unless you live under a rock. But proving ROI and connecting social media to sales seems ever elusive.
Brad Windecker, President of Orchestra LLC, a B2B software and services company that helps small and midsize companies solve business problems by extending SAP, shares social media successes and lessons learned to help you deliver leads and sales through this fast growing channel.
Erin E. Carey seeks a position in arts administration and has over 10 years of experience in orchestra management, marketing, fundraising, and audience development. She holds a Master's degree in Arts Administration from the University of Oregon and has worked for several orchestras and arts organizations in Oregon. Her background includes positions in marketing, development, and audience outreach.
Arts Marketing and Cultural Policy: Orchestra audience development in the U.S...ykuo2
The document outlines the research topic of comparing orchestra audience development strategies between the US and Taiwan. It discusses researching the theories, experiences, and case studies around attracting audiences. The purpose is to analyze effective marketing strategies to attract more orchestra audiences internationally.
This document summarizes a presentation on optimizing Zabbix performance through tuning. It discusses identifying and fixing common problems like default templates and database settings. Next, it covers tuning Zabbix configuration by adjusting the number of server processes and monitoring internal stats. Additional optimizations include using proxies to distribute load, partitioning historical tables, and running Zabbix components on separate hardware. The summary emphasizes monitoring internal stats, tuning configurations and databases, disabling housekeeping, and reviewing additional reading on tuning MySQL, PostgreSQL and Zabbix internals.
Bracken Hendricks | Innovation Showcase | 2014 Solar SymposiumGW Solar Institute
This is an Ignite Style presentation (five minute max presentations with slides that automatically advance every 15 seconds) that was a part of the 2014 Solar Symposium Innovation Showcase.
Bracken Hendricks, CEO, Urban Ingenuity
PACE and Affordable Housing: Find out how Property Assessed Clean Energy (PACE) financing can fund clean energy retrofits and help solve broader financial challenges for affordable housing developers, owners, and property managers by providing a new capital solution for affordable housing preservation.
Connecticut Green Bank Stakeholder Webinar Quarter 4 FY17RudySturkCGB
Connecticut Green Bank Stakeholder Webinar Quarter 4 FY17 (presented Aug. 8, 2017) featuring CEO and President Bryan Garcia. A video of the presentation is also available on ctgreenbank.com.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses techniques like loan loss reserves, subordinated debt, and performance incentives to enhance these products and attract private capital at lower costs. This allows more homeowners to adopt solar and transitions the market from relying on subsidies to sustainable financing.
This document summarizes CEFIA's residential solar financing products. CEFIA offers three main products - the CT Solar Lease, CT Solar Loan, and Smart-E Loan. The CT Solar Lease is a no money down option for installers and customers. The CT Solar Loan allows homeowners to take out a loan to own their solar system. The Smart-E Loan provides financing through local banks. CEFIA uses credit enhancements like loan loss reserves and subordinated debt to attract private capital at lower costs and enable more favorable financing terms that expand access to solar for homeowners.
Carl Fawcett describes the Mass Save HEAT 0% Loan Program for the ACI conference including pilot and program history, characteristics of the program, types of loans and other loan details, lending results and statistics, the HEAT Loan process, and trends related to volume and size. He also covers how contractors can best help their customers successfully through the steps of the process.
New Opportunities in Property Assessed Clean Energy (PACE)Abby Johnson
PACE Financing is an innovative financial product where commercial building owners can upgrade their properties with energy efficiency and clean energy solutions with no money down for up to 20 years.
Mark Lundine, Ohio Department of Development, presented this presentation at the Heritage Ohio Historic Tax Credit Workshop in Springfield, Ohio on May 6, 2011.
The document provides an overview of federal and state historic tax credits (HTC) for rehabilitating income-producing historic buildings. It discusses the qualifications for the credits, how to apply, calculating qualified rehabilitation expenditures, cost certifications, case studies, and tax implications. The 20% federal HTC is a dollar-for-dollar reduction in tax liability, while Pennsylvania offers a 25% state credit. Proper use of the credits can provide millions in equity for rehabilitation projects.
This proposal suggests expanding the Pay As You Save (PAYS) financing model to provide $10 billion in financing for distributed clean energy upgrades and resources. PAYS allows utility customers to purchase energy efficiency upgrades and renewable energy systems through a voluntary tariff on their utility bill. There are no upfront costs, ongoing savings are guaranteed, and the obligation transfers with the property. This could expand access to financing for rural and low-income customers in the US and globally, growing clean energy investment from $10 million to $3 billion annually in rural America and over $10 billion total worldwide.
Energy Savings for Hotel & Lodging IndustryRayco Energy
Rayco Energy, California's Energy Consultant and Retrofit Contractor presented on facilities energy saving for the Hotel and Lodging Industry at the California Hotel & Lodging Association's annual tradeshow on May 21, 2015 in San Jose, CA
This document provides an overview of HUD/FHA programs, Low Income Housing Tax Credits, and Private Activity Bonds for financing affordable housing development. It discusses the history and features of various HUD active programs including sections 221(d)(3), 221(d)(4), 223(f), 231, 232, and 242. A case study demonstrates an example HUD underwriting analysis. It also summarizes how Low Income Housing Tax Credits and Private Activity Bonds can be used to finance affordable housing development through public-private partnerships.
On-the-Ground Challenges and Opportunities in Solar ImplementationFrederick Heinle
The document discusses the key steps and considerations for developing a solar energy project, including site selection, financing options, and important project documents. It outlines the four main types of players in a project and the typical four steps of planning, financing, construction, and operation. The solar energy market is growing rapidly but may see a short-term decrease in installations before continuing growth. Lower prices and policy support are helping solar compete with conventional energy sources.
Downtown & Infill Tax Increment Districts: Strategies for SuccessVierbicher
This document outlines seven strategies for successful downtown and infill tax increment financing (TIF) districts. It discusses the need for longer timeframes and greater resources for these types of TIDs. It emphasizes staying up-to-date on TID status and being prepared to adapt. It also stresses the importance of matching public improvements to private development timelines and leveraging other funding sources. The document provides case studies of specific cities that have effectively implemented these strategies.
n today's economy, it's tough for homeowners to find financing for their energy efficiency and renewable energy upgrades. This free workshop introduces a wide variety of residential clean energy financing products for energy efficiency, solar PV and solar thermal installations.
We will also cover current clean energy rebates that also help bring down project and financing costs, improve the customer's ROI and increase the chance for contractor sales. Don't miss this opportunity to ask questions and talk with representatives from financial institutions over a networking lunch. Breakfast will also be provided.
Space is limited, so register soon!
Who Should Attend?
Contractors working in the clean energy industry including:
Home Performance Contactors
Energy Advisors
HVAC Contractors
Insulation Contractors
BPI Certified Professionals
Solar Contractors
Solar Integrators
Wayne Killen, Senior Advisor at the Department of Energy’s Loan Programs Office gave this presentation at the Forth U.S. Department of Energy Loan Program Office Overview webinar on September 28, 2021.
Canadian Grants: A Crash Course in Non-Dilutive FundingBoast Capital
Learn about the different government funding programs in Canada so you can grow your business without giving up the equity you worked so hard to build.
Models for Financing Clean Energy- SWEEP 2009HarcourtBrownEF
This document summarizes several models for financing clean energy projects, including on-bill loans, on-bill tariffs, property tax programs, and third-party loans. It provides examples of successful programs in Pennsylvania, Manitoba, Connecticut, Kansas, Berkeley and Boulder. Key considerations for effective financing models include simplicity, sources of low-cost capital, loan terms that minimize monthly payments, managing credit and default risks, and partnering with utilities for on-bill collection where feasible. The most prominent examples highlighted are Pennsylvania's Keystone HELP program and Manitoba Hydro's on-bill loan program.
Similar to Green Bank Products - Commercial Efficiency (20)
The lack of standardization and collaboration in the clean energy finance industry are some of the most well-know barriers to achieving scale. In this presentation, Alfred Griffin, President of the New York Green Bank, draws on his past experience in the private sector to describe these barriers and suggest how they might be overcome.
This presentation given by Connecticut Green Bank President Bryan Garcia shares some of the best practices involved with creating and managing a state green bank.
Advocating, Establishing, Capitalizing a Green BankCGC CGC
This document outlines the multi-step process of advocating for, establishing, and capitalizing a green bank. The key steps are: 1) Build advocacy by organizing stakeholders to support green bank creation, 2) Pass enabling legislation or regulations that determine the organizational structure and capital sources, 3) Establish the green bank by raising funds and designing the organizational structure. Examples from Connecticut, New York, and California illustrate how different states have implemented this process.
Green Bank Academy - Converting Grant to LoanCGC CGC
Grants, rebates, and one time subsidies will not be able to support the clean energy market if it is to get to scale. Grants, rebates, and one-time subsides should gradually be converted to green bank loans (or at least work in conjunction with green banks) to help achieve sustainable scale.
An objective function is a quantitative metric that captures the desired program outcome, which a Green Bank seeks to maximize. Every green bank must have a clearly defined objective function in order to define goals, track progress, design effective programs.
Calculating the Total Addressable Market (TAM) and the Serviceable Addressable Market (SAM) is key to understanding how market size changes in relation to subsidy level, technology cost, and financing costs. This presentation provides an introduction to these measurements and uses evidence from Connecticut's Green Bank (CEFIA) to show how these calculations can impact product design and green bank planning.
Transitioning to a clean energy economy (slide deck revised)CGC CGC
The document discusses transitioning to a clean energy economy in the United States through four main approaches: 1) Reducing emissions from the electric power sector by closing coal plants, 2) Replacing closed coal plants with natural gas, renewables, and energy efficiency, 3) Increasing energy efficiency in buildings, and 4) Increasing deployment of clean energy through low-cost financing to drive costs down. It argues that establishing "green banks" that provide low-cost financing could help address barriers and leverage private investment to bring clean energy and efficiency to large scale.
The document discusses the importance of energy efficiency in reducing greenhouse gas emissions and overcoming barriers to achieving large-scale energy efficiency. It proposes that green banks can help by providing massive amounts of up-front capital needed to finance energy efficiency programs. Green banks would raise capital from various sources and leverage funds to support billions of dollars in loans and investments for clean energy and efficiency projects. This could help achieve substantial reductions in emissions by overcoming financial and other barriers that currently limit energy efficiency spending.
Creating An International Climate Finance SystemCGC CGC
The document discusses the need for an International Green Bank (IGB), also known as the Global Investment Trust for Clean Energy, to help mobilize $100 billion per year in climate finance and $500 billion in annual private investments for clean energy projects in developing countries. It argues that while multilateral development banks will play a role, they have limitations that require a new institution focused solely on providing low-cost, long-term financing to lower energy costs and attract more private investment globally for clean energy at scale. The IGB would work to complement existing sources and help overcome political and market barriers to mobilizing financing needed to address climate change.
The CGC has outlined a National Energy Plan to identify a pathway forward for a clean energy future in the US. Let us know what you think! What have we missed? What can we add? What can you do to help?
The Coalition for Green Capital seeks to build a productive and sustainable clean energy economy by creating mechanisms to lower the cost of capital for clean energy projects. This will help address challenges like high upfront capital costs, low electricity demand growth in the US, and China's advantage of providing low-cost financing to its clean energy companies. The Coalition proposes establishing an Energy Investment Trust and Green Banks to provide long-term, low-cost financing similar to programs in China that have helped expand the clean energy market. Reducing financing costs could significantly lower the price of electricity from clean energy solutions.
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Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
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Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
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3. Washington, D.C.
202.777.7700
What’s the situation? From whose perspective?
Building Owner
Wants property value
to go up, not focused
on energy savings
Building Tenant
Wants to save
electricity costs, but
won’t invest to do it
Green Banks
Wants to reduce
demand for energy to
curtail GHG emissions
Energy
Efficiency
Project
Traditional
Investors
Offering short terms
and high rates
ESCO/Installer
Installers limited by
building owner’s lack
of capital
3
5. Washington, D.C.
What’s the Complication?
202.777.7700
• Repossessing collateral too difficult
– Means banks must give unsecured loans
– More like a credit card than a mortgage, short terms and high rates
• Building owners change faster than payback
• Owners want to leverage property as high as possible,
paying for EE means more equity investment
5
6. Washington, D.C.
What’s the Resolution?
202.777.7700
• Somebody other than the owner funds most, if not all, of
the upfront cost
• Property itself has to be part of collateral in order to have
commercial entity fund any of the upfront cost
• Pass a law that allows the building to be collateral
for the loan = PACE
6
7. Washington, D.C.
Property Assessed Clean Energy
•
202.777.7700
An innovative financing structure that enables commercial, industrial, and
multi-family property owners to access financing for qualified energy
upgrades and repay through a benefit assessment on their property tax.
Private capital
provides 100%
upfront, low-cost,
long-term funding
Repayment through
property taxes
A senior PACE lien is
put on the property
and stays regardless
of ownership
7
8. Washington, D.C.
C-PACE addresses key barriers
202.777.7700
Near term plan to sell?
Tax obligation fixed to property
Lack of funding?
100% upfront, 20 year financing
Cannot assume more debt?
Assessments may qualify as OPEX
Insufficient payback/ROI?
Positive cash flow in year 1
Split incentives?
Assessment/savings pass to tenants
Uncertain savings/technical expertise?
Technical underwriting / SIR>1
8
10. Connecticut Special Session
Washington, D.C.
Public Act 12-2 (June 2012)
202.777.7700
• Commercial, industrial & multi-family property
• Requires the consent of the existing mortgage lender
• Requires SIR>1
• Single statewide program with CEFIA as named
administrator
• Renewable and energy efficiency – and soon micro grids!
10
11. Washington, D.C.
Critical that CEFIA is central administrator
202.777.7700
• Under CT law, towns must sign up individually – nobody
would do this except a green bank
• Efficiency measures are low priority among real estate
developers – need a specific institution dedicated to this
• Need consistent underwriting standards – both financial
and technical
• Scale problem – no single developer can attract a
commercial bank, green banks aggregate demand
11
12. Washington, D.C.
CEFIA’s Role in C-PACE
Design
Program
Administer
Program
Attract
Private
Capital
202.777.7700
• Publish Program Guidelines November 2012
• Bring on Technical Administrator
• Onboard Municipalities
• Launch website (www.c-pace.com)
• Financial and Technical Underwriting
• Marketing & Outreach
• Work with Existing Mortgage Lenders
• Qualify Capital Providers
• Secure internal warehouse of capital to originate and finance
deals
• Sell-down portfolio (close Feb 2014)
12
13. Washington, D.C.
The C-PACE Process
202.777.7700
• 1. Building owner engages
contractor to develop scope
of work; works with utilities
(CEEF) to incorporate
incentives
• 2. Owner applies to CPACE program at www.cpace.com
• 3. Third party review of
technical and financial
details
13
14. Washington, D.C.
The C-PACE Process
202.777.7700
• 4. C-PACE alerts
municipality; lien is placed
on property
• 5. CEFIA offers 100%
upfront financing to owner
• 6.Project commences
14
15. Washington, D.C.
The C-PACE Process
202.777.7700
• 7. Owner remits payment to
municipality as benefit
assessment charge
• 8. Municipality remits PACE
assessment to CEFIA
• 9. CEFIA “sells down”
transaction to capital
provider to replenish funds
15
16. Washington, D.C.
CEFIA Sources Capital
Construction and Term
Financing from CEFIA
•
CEFIA authorized $40M short
term facility for construction
and term financing
•
Sells down transaction through
bid process
Qualified Capital Providers
•
CEFIA qualified 14 capital
providers through a RFI.
Owner Arranged Financing
•
Property owner is free to
choose their capital provider
from the private market. There
is no government financing
required.
202.777.7700
17. Washington, D.C.
CEFIA can sell-down loans to recycle funds
202.777.7700
• After CEFIA lends money to customers, it can sell loans to
replenish cash, increase scale
• Avoid holding notes and tying up funds for long time
• Bundle loans, sell in tranches
• Recycling funds accelerates deployment
Step 1:
CEFIA
lends to
customers
Step 2:
CEFIA
bundles
loans
Step 3:
CEFIA sells
loans, gets
cash
Step 4:
CEFIA
makes new
loans
17
18. Washington, D.C.
Setting C-PACE deal terms
202.777.7700
• Conversation with capital providers: 300-400 basis points
over the relevant LIBOR swap (had to solve for 20 year
rates)
• Our initial rates (4.5% for 10 years ... 5.5% for 20 years) =
300bps over the amortizing 10 year LIBOR swap
• Sell-down auction process last fall confirmed pricing
• Adjusted our rates for late 2013/early 2014 based on an
amortizing 10 year LIBOR and moved our range up 50 bps
to 5.0% for 10 years ... 6.0% for 20 years.
18
19. Washington, D.C.
What are the challenges
202.777.7700
• Need adequate staff for acquiring customers
• Educating state mortgage industry about C-PACE, consent
• Mandate to get dollars flowing means internal processes
built in real-time
19
20. Washington, D.C.
What have we learned
202.777.7700
• No substitute for senior lien
• Work with banks early on consent – get creative
• Need to be managed out of Green Bank
• Green Bank needs to have $ to be taken seriously
• Get deals done – proof of concept
• Write the law that works for your state (ex: including water
in Texas, resiliency in Florida)
20
21. Appendix
Jessica Bailey, Director C-PACE
Clean Energy Finance and Investment Authority
860.257.2888
Jessica.Bailey@ctcleanenergy.com
www.c-pace.com
21
22. Washington, D.C.
202.777.7700
C-PACE Timeline: 2012-13
June 2012
•
Public Act 12-2 signed by Governor, enabling C-PACE financing
in CT
Sept 2012
•
Bridgeport & Norwalk become first 2 municipalities to opt into
program
Dec 2012
•
Qualified capital providers join C-PACE
Jan 2013
•
C-PACE program launches; website & application go live
Feb 2013
•
CEFIA Board approves $20M warehouse
Mar 2013
•
C-PACE program trains 150+ contractors
Apr 2013
•
First C-PACE project closes
Aug 2013
•
CEFIA releases details for capital providers to sell
the initial portfolio
Sept 2013
•
•
C-PACE total approved deals reach $20M
CEFIA approves increase of warehouse to
$40M
Nov 2013
•
Capital provider selected to purchase first
$27M of C-PACE transactions. Closing
anticipated 2/14
Dec 2013
•
70 towns and 80% of C&I market
eligible for C-PACE in CT
23. Washington, D.C.
Case Study: Solar and Lighting Upgrade
Norwalk Shopping Center
202.777.7700
Project
▪ $550,000 exterior LED lighting
upgrade and solar parking canopy.
Financing
▪ $185,000 of lighting upgrade financed
through 13 year C-PACE assessment.
CEFIA providing construction
financing.
▪ $365,000 solar parking canopy
received a ZREC
▪ Savings of $55,000 plus 30% ITC
Impact
▪ 741k kBTUs saved
▪ Produces 5.8M kWh in clean energy
23
24. Washington, D.C.
Case Study: Energy Efficiency Upgrade
855 Main Street Bridgeport
202.777.7700
Project
▪ $1,990,000 energy efficiency measures, ranging from the
installation of variable frequency drives to chiller replacements to
new energy efficient windows to new cooling towers.
Financing
▪ Save owners $241k per year versus $166k in annual C-PACE
assessment. Net savings of $80k.
Impact
▪ 133M kBTUs
saved over life of
project
24
25. Washington, D.C.
Case Study: Boiler Replacement
Bushnell Center for the Performing Arts
202.777.7700
Project
▪ $650,000 boiler replacement
Financing
▪ $384,000 of replacement
financed through 20 year C-PACE
assessment.
▪ $250,000 covered with grant
from Department of Economic
and Community Development.
Impact
▪ Annual savings of $48,000
25
26. Washington, D.C.
Case Study: Solar and Energy Efficiency Upgrade in
202.777.7700
Middletown
Project
▪ $2,535,766 including
–
the installation of air units, variable frequency
drives, high efficiency lights, occupancy sensors,
air leakage improvements, an upgraded energy
management system,
–
and a 260 kW ground-mounted photovoltaic
system.
Financing
▪ Energy savings of $224,272 annually
Impact
▪ 51M kBTUs saved
▪ 8.5M kWh clean energy produced
26
27. Washington, D.C.
Case Study: Solar Project in Hartford
202.777.7700
Project
▪ $325,000 solar installation
Financing
▪ ZREC award of $164.22 / MWh from CL&P,
▪ With ZREC and energy savings, owner expected to see revenue of
$49,916 per year
Impact
▪ 2,8M kWh clean
energy produced
27
28. Washington, D.C.
Deal Status
202.777.7700
FY 2014 (July through December)
Project Type Estimated Annual
Savings
Installed
Capacity
Amount
Financed
Financing Terms
Building Size
55 kW
100 kW
260 kW
--71 kW
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 18 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 14 years
34,500 sqft
40,000 sqft
81,368 sqft
42,456 sqft
100,000 sqft
20,000 sqft
165,000 sqft
25,000 sqft
17,107 sqft
110,000 sqft
50,000 sqft
459,292 sqft
53,577 sqft
1,148,300 sqft
5.5% for 20 years
5.5% for 20 years
5.5% for 15 years
5.7% for 17 years
6% for 20 years
5% for 10 years
5.5% for 20 years
5.5% for 20 years
5.5% for 20 years
5.5% for 15 years
38,000 sqft
30,000 sqft
65,000 sqft
40,000 sqft
29,290 sqft
36,000 sqft
30,000 sqft
60,000 sqft
50,000 sqft
55,000 sqft
433,290 sqft
Closed
41 Walnut Street
1841 Broad Street
100 Roscommon
86 Hopmeadow
855 Main Street
228 Route 81
80 Lamberton
Larsen Ace Hardware
Danbury YMCA
Insports Trumbull
NPB Assets Norwich
290 Pratt
22 Waterville Road Avon
CLOSED TOTAL - 13
Renewable
Renewable
Both
Energy Efficiency
Energy Efficiency
Renewable
Both
Renewable
Energy Efficiency
Both
Renewable
Energy Efficiency
Energy Efficiency
221 MMBtu/yr
491 MMBtu/yr
3,339 MMBtu/yr
1,021 MMBtu/yr
6,650 MMBtu/yr
275 MMBtu/yr
5,965 MMBtu/yr
188 MMBtu/yr
929 MMBtu/yr
1,160 MMBtu/yr
367 MMBtu/yr
7,123 MMBtu/yr
2,361 MMBtu/yr
30,090 MMBtu/yr
45 kW
-252 kW
150 kW
--933 kW
$145,000
$325,000
$2,513,915
$674,566
$1,992,683
$259,000
$1,818,486
$148,500
$87,938
$1,001,298
$350,000
$1,790,847
$419,346
$11,526,578
Both
Renewable
Renewable
Energy Efficiency
Both
Renewable
Renewable
Renewable
Renewable
Energy Efficiency
489 MMBtu/yr
883 MMBtu/yr
2,038 MMBtu/yr
1,311 MMBtu/yr
1,207 MMBtu/yr
517 MMBtu/yr
1,019 MMBtu/yr
982 MMBtu/yr
467 MMBtu/yr
836 MMBtu/yr
9,749 MMBtu/yr
-200 kW
500 kW
-206 kW
157 kW
250 kW
250 kW
122 kW
-1,685 kW
$372,466
$850,000
$1,500,000
$517,590
$829,399
$478,000
$750,000
$750,000
$386,345
$410,009
$6,843,809
39,839 MMBtu/yr
2,618 kW
$18,370,387
Approved
Meriden YMCA
Quality Inn
Bourdon Forge
255 Bank Street
1095 Dayhill Road
Shagbark
Sofia East Windsor
Sofia East Windsor
Signature Advertising
Bridgeport International Academy
APPROVED TOTAL - 10
CLOSED AND APPROVED TOTAL - 23
1,581,590 sqft
28