CaliforniaFIRST

388 views

Published on

CaliforniaFIRST - a program of California Communities presented by Annie Henderson at the Residential Retrofit Action Clinic on June 2, 2010.

Published in: Technology, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
388
On SlideShare
0
From Embeds
0
Number of Embeds
8
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • CSCDA – over 500 government members
  • Statewide program offering clean energy municipal financing, making it easy for cities and counties to provide this service to property owners
  • Let’s assume that we set up a PACE financing district. And let’s assume that about 650 people sign up to finance solar or energy efficiency projects. That would add up to about $10 million worth of investment in solar and energy efficiency. If half of that investment is in solar and half in energy efficiency, that would create 124 jobs. If 75% were in energy efficiency and 25% were in solar, it would create about 162 jobs. And those are good jobs that will be done by people right here in our community – people who install solar panels, new dual-paned windows, new insulation or new furnaces or air conditioning systems.
  • Fresno and Kern =12% 2011 = $18.8M, 233 jobs 2013 = $53.8M, 667 jobs
  • Improvements should “pay for themselves,” i.e. the utility bill should go down by more than the property tax bill goes up. An energy audit or a package of high-return energy efficiency measures can assure a good investment Contractors should be licensed, bonded and have completed energy efficiency training (such as Building Performance Institute) in order to be on local govt’s list of certified contractors. Also, govt should conduct quality assurance inspections to ensure that work is done properly.
  • Improvements should “pay for themselves,” i.e. the utility bill should go down by more than the property tax bill goes up. An energy audit or a package of high-return energy efficiency measures can assure a good investment Contractors should be licensed, bonded and have completed energy efficiency training (such as Building Performance Institute) in order to be on local govt’s list of certified contractors. Also, govt should conduct quality assurance inspections to ensure that work is done properly.
  • Assessment Reserve Fund Length of Repayment Time Size of Financing Relative to House Value SIR Local govt should set up reserve fund to cover any failure by homeowner to pay assessment. Length of repayment schedule should not exceed life expectancy of measure (Ex: 10 years for hot water heater; 20 years for solar panels). As a general matter, financing should not exceed 10% of assessed value of the house. Unanimous approval in case of multi-family condominiums.
  • CaliforniaFIRST

    1. 1. CaliforniaFIRST a program of California Communities Annie Henderson | June 2, 2010
    2. 2. CaliforniaFIRST: Pilot Partners
    3. 3. CaliforniaFIRST Pilot <ul><ul><li>Alameda </li></ul></ul><ul><ul><li>Fresno </li></ul></ul><ul><ul><li>Kern </li></ul></ul><ul><ul><li>Monterey </li></ul></ul><ul><ul><li>Sacramento </li></ul></ul><ul><ul><li>San Benito </li></ul></ul><ul><ul><li>San Diego </li></ul></ul><ul><ul><li>San Luis Obispo </li></ul></ul><ul><ul><li>San Mateo </li></ul></ul><ul><ul><li>Santa Clara </li></ul></ul><ul><ul><li>Santa Cruz </li></ul></ul><ul><ul><li>Solano </li></ul></ul><ul><ul><li>Ventura </li></ul></ul><ul><ul><li>Yolo </li></ul></ul>
    4. 4. CaliforniaFIRST in Central Valley <ul><li>Kern County </li></ul><ul><li>Arvin Bakersfield Ridgecrest Shafter Taft Wasco </li></ul><ul><li>Fresno County </li></ul><ul><ul><li>Clovis Firebaugh Fowler Fresno Huron Kerman Kingsburg Orange Cove Reedley San Joaquin Sanger Selma </li></ul></ul>
    5. 5. CaliforniaFIRST: Overview <ul><li>Creates financing district </li></ul><ul><li>Provides complete admin </li></ul><ul><li>Provides upfront capital through bond sales </li></ul><ul><li>Identifies work & chooses contractor </li></ul><ul><li>Applies for financing </li></ul>$$ Upfront $$ Repaid on tax bill City /County “ opts-in” <ul><li>Repays financing on property tax bill </li></ul><ul><li>Repayment obligation transfers with ownership </li></ul>
    6. 6. Key Benefits for Cities & Counties Helps meet energy and climate goals Promotes local jobs Tax neutral and no exposure to General Fund
    7. 7. 124 jobs created with $10 million investment
    8. 8. Potential Program Reach
    9. 9. Contractor Qualifications <ul><li>Standard </li></ul><ul><ul><li>Appropriate State license </li></ul></ul><ul><ul><li>Participation in State rebate programs </li></ul></ul><ul><ul><li>Agreement to Code of Ethics </li></ul></ul><ul><ul><li>Compliance with CEC HERSII requirement (as available and applicable) </li></ul></ul><ul><li>Under Development </li></ul><ul><ul><li>Energy Efficiency certification requirement will be dependent on State standards currently under development by HERCC, WHPP, Home Star, etc. </li></ul></ul>
    10. 10. Integration of Programs
    11. 11. Main Points <ul><li>Loading Order </li></ul><ul><ul><li>10% EE improvement required prior to financing for on-site renewable generation </li></ul></ul><ul><ul><li>Emerging EE rebate program may increase requirement to 20% </li></ul></ul><ul><ul><li>Multiple pathways to meet loading order </li></ul></ul><ul><li>Residential properties </li></ul><ul><ul><li>Specific underwriting criteria </li></ul></ul><ul><li>Commercial properties </li></ul><ul><ul><li>Process under development </li></ul></ul><ul><li>Financing available to RE and EE projects </li></ul><ul><ul><li>Water efficiency to follow </li></ul></ul>
    12. 12. Participation Pathways BPI, HERSII, Equivalent Based on Rebate Requirements
    13. 13. Property Qualification
    14. 14. DOE Guidelines http://www1.eere.energy.gov/wip/pdfs/arra_guidelines_for_pilot_pace_programs.pdf
    15. 15. DOE Guidelines <ul><li>Homeowner Protections </li></ul><ul><li>Expected Savings to Investment Ratio greater than 1 </li></ul><ul><li>Term of assessment should not exceed useful life </li></ul><ul><li>Mortgage holder should receive notice </li></ul><ul><li>Assessment should be appropriately sized </li></ul><ul><li>Quality assurance </li></ul><ul><li>Rebates and tax credits </li></ul><ul><li>Education and data collection </li></ul>
    16. 16. DOE Guidelines <ul><li>Lender and Borrower Protections </li></ul><ul><li>Creation of debt service reserve </li></ul><ul><li>Clear title </li></ul><ul><li>No negative equity financing </li></ul><ul><li>No involuntary liens >$1000 </li></ul><ul><li>Use assessed property value to determine LTV (1:10) </li></ul><ul><li>No property tax payment delinquencies in last 3 years </li></ul><ul><li>No bankruptcy in last 7 years </li></ul>
    17. 17. CaliforniaFIRST.org
    18. 18. Annie Henderson | annie@renewfund.com | (510) 451-7911 www.CaliforniaFIRST.org

    ×