Panel Discussion: Financing Renewable Projects Laura Richardson
Panel Discussion: Financing Renewable Projects Laura Richardson Executive Director The Jordan Institute
Environmental Business Council of New England Energy Environment Economy
Environmental Business Council - New Hampshire Chapter Program Developments in Renewable Energy in the State of New Hampshire
September 24, 2013
Our focus is to reduce energy used in commercial buildings and create tools so that we use energy more efficiently and sustainably.
It can’t happen without money.
Policy
Program Design
Project Implementation
• • • •
• • • •
• • • •
Legislative efforts, ie PACE EESE Board CORE Energy programs State Energy Strategy
EE/RE financing tools Enterprise Energy Fund BetterBuildings Giving Power Back
Energy Audits, M+V, CX LEED Consulting/Certification Construction Management High-Performance Buildings
Problems: • Aging buildings built for different performance standards: shelter, aesthetics, comfort, convention. Energy use/cost was not a priority. Now it is. • Fixing buildings is expensive and requires trained professionals, analysis, and comprehensive approach. • Energy costs are volatile, FFs are not native to NH, Dollars invested in FFs do not stay in our local economy.
Opportunities: • Technology, building science, occupant expectations, and “the market” are all learning how to improve buildings’ energy performance • Well-designed projects can be cash-neutral or cash positive • Jobs are not outsourced • Private capital is available and interested in good investments So let’s do this. Make our buildings better, put people to work at skilled trades, make money, reduce overall demand for energy.
Energy Use Savings = 45%; Energy Cost Savings = 68%; $1M+ project
Solutions • Structure project and financing to be cash-neutral or cash positive • Extend term length, 20 years • Include soft costs – technical assistance, energy audits, engineering studies, 3rd party M+V and commissioning • Allow loan to transfer at time of property sale • Allow relevant/connected deferred maintenance projects as long as SIR >1 • Require warranties at least as long as loan • Minimal strings attached • Allow for loan/project true-up after X years to keep project cash-neutral
Thank you! Laura Richardson Executive Director The Jordan Institute [email protected] 603-226-1009, x204 6 Dixon Avenue, Suite 201 Concord, NH 03301
Environmental Business Council of New England Energy Environment Economy
Environmental Business Council - New Hampshire Chapter Program Developments in Renewable Energy in the State of New Hampshire
September 24, 2013
Our focus is to reduce energy used in commercial buildings and create tools so that we use energy more efficiently and sustainably.
It can’t happen without money.
Policy
Program Design
Project Implementation
• • • •
• • • •
• • • •
Legislative efforts, ie PACE EESE Board CORE Energy programs State Energy Strategy
EE/RE financing tools Enterprise Energy Fund BetterBuildings Giving Power Back
Energy Audits, M+V, CX LEED Consulting/Certification Construction Management High-Performance Buildings
Problems: • Aging buildings built for different performance standards: shelter, aesthetics, comfort, convention. Energy use/cost was not a priority. Now it is. • Fixing buildings is expensive and requires trained professionals, analysis, and comprehensive approach. • Energy costs are volatile, FFs are not native to NH, Dollars invested in FFs do not stay in our local economy.
Opportunities: • Technology, building science, occupant expectations, and “the market” are all learning how to improve buildings’ energy performance • Well-designed projects can be cash-neutral or cash positive • Jobs are not outsourced • Private capital is available and interested in good investments So let’s do this. Make our buildings better, put people to work at skilled trades, make money, reduce overall demand for energy.
Energy Use Savings = 45%; Energy Cost Savings = 68%; $1M+ project
Solutions • Structure project and financing to be cash-neutral or cash positive • Extend term length, 20 years • Include soft costs – technical assistance, energy audits, engineering studies, 3rd party M+V and commissioning • Allow loan to transfer at time of property sale • Allow relevant/connected deferred maintenance projects as long as SIR >1 • Require warranties at least as long as loan • Minimal strings attached • Allow for loan/project true-up after X years to keep project cash-neutral
Thank you! Laura Richardson Executive Director The Jordan Institute [email protected] 603-226-1009, x204 6 Dixon Avenue, Suite 201 Concord, NH 03301
