Tag Archives: pace financing

Getting to the Triple Bottom Line

The Great Room at SUNY Orange in Newburgh, NY, was the location of the well-attended and highly-praised energy projects finance conference titled, “Getting to the Triple Bottom Line: Innovative Strategies to Green Your Business.”

Great Room_SUNY Orange

120 attendees filled the Great Room at SUNY Orange in Newburgh, NY

The Mid-Hudson EDGE team co-hosted the event with the Orange County Department of Planning, to help provide a unique opportunity for the Hudson Valley community to gain a deeper understanding of the spectrum of strategies available to support energy projects, including exciting new opportunities in the field of energy efficiency and renewable energy finance. The Mid-Hudson region is at the nexus of cutting edge programs in energy project finance.

The 16 panelists gathered for the four event panels represented the spectrum of incentive and finance opportunities available to support energy projects in the New York area.

John Ahearn and Kathryn Fantauzzi presented on commercial, not-for-profit, and residential customer opportunities from NYSERDA. Nathaniel Doyno and Amanda DiMaso discussed utility company programs available from Con Edison and Central Hudson, respectively. Mark Thielking and Robert Fischman discussed opportunities in Property Assessed Clean Energy (PACE) financing for commercial customers and other programs developed by Energize NY. Fred Lee described the work of the New York City Energy Efficiency Corporation (NYCEEC). Tom Kacandes from Sunrise Solar discussed equipment manufacturer-provided financing and Robert Boyajieff of Johnson Controls provided an energy services company (ESCO) perspective.

Bryan Garcia and Genevieve Sherman from the Connecticut Green Bank and David Gabrielson from PACENow offered lessons and insights from related programs available outside of New York State. Bruce Schlein, Director of Sustainability at Citi, discussed the role of federal and interstate programs and the importance of secondary financial markets led by Citi and other large financial institutions. Bruce Schlein and Bryan Garcia serve as co-chairs of the Financing Solutions Working Group of the State Energy Efficiency Action Network (SEEAction Network), a state- and local-led effort facilitated by the U.S. Department of Energy and the U.S. Environmental Protection Agency to take energy efficiency to scale. Robert Sanders from the Clean Energy Group drew attention to the role of finance in supporting energy resiliency.

Alfred Griffin, president of NY Green Bank, was the keynote speaker and introduced many audience members to the NY Green Bank while providing all with a deeper understanding of the organization’s missions and operations.

A final session offered attendees a detailed tour of the Consolidated Funding Application tool and associated resources, as well as NYSERDA’s Cleaner, Greener Communities program.

Meridith_Nierenberg_RUPCO

Meridith Nierenberg of RUPCO (right) exhibited on behalf of the NYSERDA Home Performance with ENERGY STAR® program.

The event was sponsored by 10 organizations including two local utilities (Central Hudson and Con Edison), NYSERDA contractors (RUPCO and Energize NY), NYSERDA program participants (Continental Organics and Newburgh Brewing), and a number of Mid-Hudson EDGE partners (Hudson Valley Regional Council, USGBC New York Upstate Chapter, Council of Industry, and Sustainable Hudson Valley). These organizations provided financial, advertising, and technical assistance, while many were present as expert panelists and exhibitors.

Attendees were polled after the event, and the feedback was positive. One audience member stated, the event offered a “knowledgeable and skilled presenters and excellent moderators with senses of humor made a packed program on material that I have little experience with quite palatable, even enjoyable.” The event panelists, sponsors, and exhibitors enthusiastically praised the event for helping to build and foster cross-fertilization of ideas within the energy projects finance community.

Innovative Financing Program Launches for New York State Energy Projects

The Energy Improvement Corporation (EIC), a New York State public benefit corporation now offers low-cost, long-term financing to commercially owned buildings undergoing energy efficiency and renewable energy upgrades.IMAG3381

Energize NY kicked off the first in a series of training events on Tuesday, January 14th, to inform Westchester stakeholders about a brand new financing option for energy efficiency and renewable energy projects in commercially owned buildings. Using the Property Assessed Clean Energy (PACE) loan structure, “Energize NY Finance” will make comprehensive energy retrofits and renewable energy improvements more economically feasible than ever before, for properties across New York State.

Energize NY’s training event attracted top engineering firms and energy efficiency contractors that do business in Westchester. A panel comprised of representatives from the NYSERDA, Westchester County Dept. of Planning, Sustainable Real Estate Solutions, and EIC endorsed Energize NY Finance, encouraging service providers to offer the new financing option to their clients, to help them save the most energy dollars.

“Energize NY’s PACE financing product creates an exciting new opportunity for NYSERDA’s Multifamily Performance Program and the services offered to customers through our Multifamily Performance Partners,” said John B. Rhodes, President and CEO, NYSERDA. “The product is a new tool that Multifamily Performance Partners can use to help owners of multifamily buildings overcome barriers to financing so they can implement projects that save energy and reduce operating costs. It will help New York State stimulate the growth of the clean energy economy, which Governor Cuomo has cited as a priority.”

Energize NY also offers even lower cost financing opportunities for affordable housing and not-for-profits, exclusively in Westchester. At least $4 million in Qualified Energy Conservation Bond (QECB) capital is accessible to multifamily buildings with low-income tenants, and not-for-profit owned buildings. “Loans are only approved if the energy savings from a proposed project will save more over time than the money invested in the project,” says Joe Del Sindaco, Treasurer of EIC, “Property owners will be cash-flow positive from day one.”

“We are excited to celebrate the launch of Energize NY PACE program. The program will create local private sector jobs and reduce greenhouse gas emissions by making innovative PACE financing available to building owners in the state,” says David Gabrielson, PACE Now’s Executive Director.

Energize NY Finance training events will be held for the next several months, to inform property owners and the energy efficiency specialists who serve them. To find out about upcoming trainings, or learn more about Energize NY, please contact the office at (914) 302-7300 or visit Energize NY.

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EIC is a local development corporation established to assist municipalities and property owners achieve long-term energy savings and/or generate renewable power for use on site. Energize NY Finance provides an alternative to traditional loans, by providing an innovative form of financing called Property Assessed Clean Energy (PACE) financing. For more information, please contact Energize NY at (914) 302-7300 or , or visit Commercial.EnergizeNY.org.

 

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