Author Archives: EDF Blogs

EDF Helps Standardize Energy Efficiency Projects in Texas

By: Matt Golden, Senior Energy Finance Consultant

Texas Pace In A BoxTexas currently has the highest rate of energy consumption of any U.S. state and accounts for 10% of the country’s total energy consumption. Most of that energy goes to energy-intensive industries, such as aluminum, chemicals, forest products, glass, and petroleum refining, which consume 50% of the state’s energy, compared with a national average of 32%.

Last year, the Texas legislature passed statewide legislation enabling cities to use their property taxes as a way to finance clean energy and energy efficiency for industrial, agriculture, water, and commercial buildings. This innovative financing tool, generally referred to as property-assessed clean energy (PACE), has the potential to unlock a considerable amount of funding for both renewable energy and energy efficiency projects in the state, while simultaneously offering building owners cheaper financing options and secure repayment through their property tax assessment. Read More »

Posted in Clean Energy, Energy Efficiency, Energy Financing, Investor Confidence Project, Renewable Energy, Texas | Tagged | Leave a comment

LA Better Building Challenge Partners with EDF’s Investor Confidence Project to Accelerate Citywide Energy Efficiency Goals

By: Matt Golden, Senior Energy Finance Consultant

 

Source: LA Better Buildings Challenge

Source: LA Better Buildings Challenge

Environmental Defense Fund’s Investor Confidence ProjectSM (ICP) is pleased to announce a partnership with the Los Angeles Better Buildings Challenge to help develop a more robust marketplace for energy efficiency retrofits in the city. Los Angeles has set a goal of achieving 20% energy savings across 30 million square feet of existing buildings by 2020 as part of the Better Buildings Challenge, a national leadership initiative sponsored by the U.S. Department of Energy. If achieved, it is estimated that this 20% reduction in energy costs will create over 7,000 high-quality local jobs, and avert annual carbon emissions equivalent to taking more than 18,000 cars off the road.

The LA Better Buildings Challenge will be promoting the ICP Protocols through its network of building owners and industry stakeholders to help bring even greater transparency and accountability to the energy efficiency market by introducing a system of standardization in the way commercial building retrofits are developed, funded, and managed. The ICP framework assembles best practices and existing technical standards into a set of protocols that define a clear roadmap for developing projects, determining savings estimates, and documenting and verifying results. Read More »

Posted in Clean Energy, Energy Efficiency, Investor Confidence Project | Comments closed

Clean Energy Conferences Roundup: April 2014

Source: National Retail Federation Flickr

Source: National Retail Federation Flickr

Thousands of clean energy conferences are held every year across the United States. A quick Google search revealed over 1.5 million results for 2014 alone. That’s why, starting this month, in an effort to save our readers time, the Energy Exchange will be endeavoring to round up a monthly list of some of the top clean energy conferences around the country. Our list includes conferences at which experts from the EDF Clean Energy Program will be speaking, plus additional events that we think our readers may benefit from marking on their calendars.

Top clean energy conferences featuring EDF experts in April:

April 2-4: Wall St. Journal ECO:nomics, Santa Barbara, CA
Speaker: Fred Krupp, President

  • Each year, top CEOs and investors, pioneering entrepreneurs, environmental experts, and policy makers convene at ECO:nomics to discuss and debate the most critical issues facing leaders who are driving change at the intersection of business and the environment. Experts from a diverse range of industries will debunk myths and uncover new opportunities through dynamic interviews led by senior editors from The Wall Street Journal. Topics range from America’s game-changing natural gas boom to China’s globally significant energy appetite to the range of potential power sources of tomorrow.

Read More »

Posted in Clean Energy, General | Tagged , , , | 1 Response, comments now closed

Transitioning to a Clean Energy Future Will Require Lots of Private Capital, but How Do We Get There?

By: Victor A. Rojas, Senior Manager, Financial Policy

Source: 401(K) Flickr

Source: 401(K) Flickr

The past two decades have seen a tremendous growth in our understanding of the climate change imperative and in the enormity of the challenge that confronts us. It has become clear that meeting climate change mitigation objectives will require the aggressive deployment of clean energy technologies, substantial amounts of capital, and creative methods of engaging that capital around these activities.

Transitioning to a low-carbon economy costs money (and lots of it). In fact, the International Energy Agency has estimated that $10.5 trillion will be required between 2010 and 2030 to fund this transition worldwide. Given the continuing challenges confronting global economies, the bulk of the capital needed to transition to this clean energy future will, by necessity, be private capital. As a result, creative financing solutions are essential to engaging and unleashing private, institutional capital, and accelerating the flow of those funds toward clean energy projects.

But the question of how to most effectively unlock the enormous amounts of capital necessary to pay for our transition to a low-carbon economy still remains. Read More »

Posted in Clean Energy, Climate, Energy Efficiency, Energy Financing, Investor Confidence Project, On-bill repayment, Renewable Energy | Tagged , | 1 Response, comments now closed

EDF Wins Business Achievement Award for Efforts to Advance Clean Energy Financing

By: Matt Golden, Senior Energy Finance Consultant

CCBJawardEach year the Climate Change Business Journal (CCBJ) awards businesses and non-profits for their outstanding work in the climate and environment industry. This year, we are thrilled to announce that EDF’s own Investor Confidence Project (ICP) was named a winner of CCBJ’s Business Achievement Award in the category of Finance. Winners of the 18 categories – ranging from solar and wind power to transportation and energy efficiency – were recognized this month at an Environmental Industry Summit in San Diego.

The Investor Confidence Project received recognition for its efforts to help create a market for investor-ready energy efficiency projects. From the CCBJ award website: “ICP is moving the energy efficiency industry closer to the Holy Grail of securitization, in which energy efficiency projects can be valued based on consistent parameters with little project-specific analysis and vetting-processes that ratchet up soft costs quickly.” Read More »

Posted in Clean Energy, Energy Efficiency, Energy Financing, Investor Confidence Project | Tagged , | Comments closed

Is Clean Energy Technology Booming? Five Reasons It Is.

To see the full infographic, go to greentechmedia.com.

By: Benjamin Schneider

You may have heard about the recent 60 Minutes segment that inexplicably reported the cleantech sector was in steep decline. There are quite a few reports out there breaking down the many fallacies of that segment, with most correctly concluding the sector is not dead, it is in fact booming and evidence of that surging momentum is everywhere you look. Consider these five examples that show just how good things are for cleantech these days:

1.  The solar industry is booming.

The facts are unequivocal: the solar industry is alive and well. According to a new report and infographic released this week by Greentech Media Research and the Solar Energy Industry Association (SEIA), 2013 was a banner year. Read More »

Posted in Clean Energy, Energy Efficiency, Renewable Energy, Smart Grid | Tagged , , | 2 Responses, comments now closed

Final Order from NYPSC on Con Edison Rate Case Reveals Especially Encouraging Language on Climate Change Directives

By: Elizabeth B. Stein, Attorney and Adam Peltz, Attorney

Source: Iwan Baan

Source: Iwan Baan

In Tuesday’s blog post, we discussed the recently concluded Con Edison rate case, its context, and its significance in advancing clean energy and grid resilience in New York. Today, we take a closer look at the final Order posted last Friday by the New York State Public Service Commission (the Commission) to uncover some of the more encouraging outcomes buried in this 300+ page document:

  • Con Edison agreed to various measures that allow for more distributed generation, i.e. on-site power generation, such as combined heat and power, rather than relying solely on power generation and distribution from the traditional, centralized grid. For example, Con Edison agreed to pay for some fault current mitigation, which enables distributed generation to be connected to portions of Con Edison’s grid where it would otherwise be prohibited, and agreed to develop an implementation plan for a microgrid pilot. Additionally, Con Edison agreed to treat customer-sited projects, including distributed generation, as integral parts of its system by considering them in its 24-month planning horizon. Because some distributed generation can operate in an ‘islanded’ mode, or separate from the main grid, and can thus continue operating in a power outage, distributed generation can play a critical role in improving resilience. Read More »

Posted in Air Quality, Clean Energy, Dynamic Pricing, Electric Vehicles, Methane, Natural Gas, New York, Renewable Energy, Smart Grid, Utility Business Models | Comments closed

NYCEEC, NY State Green Bank Clear the Way for Clean Energy Financing of Retrofits

By: Susan Leeds, CEO of the New York City Energy Efficiency Corporation (NYCEEC)

Source: AtisSun

Source: AtisSun

As New York City gets repeatedly hammered by snow, ice and the evil “wintry mix,” one could almost forget the world is warming at an ever faster clip. But the experts in the room earlier this month at the roundtable discussion on ‘Economics of Energy Retrofits’ at Urban Green Council (New York’s chapter of the U.S. Green Building Council) know the debate is over. Climate change is real and the window for action is closing. That’s why it’s more important than ever to work toward removing barriers to clean energy financing now.

As the De Blasio administration strives to build a more affordable New York City it’s important to note that clean energy building upgrades are central to this mission. By reducing energy use, building owners and their tenants can realize millions of dollars in annual savings while slashing dangerous carbon pollution for cleaner air and water. Read More »

Posted in Clean Energy, Energy Efficiency, Energy Financing, Investor Confidence Project, On-bill repayment, Utility Business Models | Comments closed

New York’s Con Edison to Take New Measures Protecting Against the Effects of Climate Change

By: Elizabeth B. Stein, Attorney and Adam Peltz, Attorney

Source: Iwan Baan

Source: Iwan Baan

The New York State Public Service Commission (Commission) took a historic step late last week, unanimously approving an Order that requires Con Edison to implement state-of-the-art measures to plan for and protect its electric, gas, and steam systems from the effects of climate change. This announcement regarding the future of New York State’s largest utility comes as a welcome coda to local storm recovery and resiliency efforts that have been in the works for some time now.

On October 29, 2012, Superstorm Sandy clobbered the coastline of New York City. Homes were swept away or badly damaged as corrosive salt water flooded basements, while millions lost power. In one of the enduring images of the storm, an exploding transformer at East 14th Street caused the “city that never sleeps” to go dark below 40th Street and stay that way for the better part of a week. Read More »

Posted in Clean Energy, Climate, Demand Response, Dynamic Pricing, Energy Efficiency, Energy Financing, New York, Smart Grid, Utility Business Models | 1 Response, comments now closed

EDF’s Energy Efficiency Protocols Serve as a Model at ESCO Europe 2014

By: Matt Golden, Senior Energy Finance Consultant 

1ICP LogoAs interest in and adoption of EDF’s Investor Confidence Project (ICP) protocols has continued to grow in the United States, so too has interest internationally. The Investor Confidence Project was invited to showcase our efforts at ESCO Europe, the continent’s largest conference for energy service providers. This year, the conference was held in Barcelona, Spain and drew an array of participants from across Europe and the public and private sectors, including representatives from finance companies, governments, and non-profits with interests in the energy industry.

I was privileged to serve as both a panelist in a roundtable discussion on barriers to ESCO financing, and a speaker on “Improving Access to Finance,” a well-attended session with representatives from the European Investment Bank, European Bank for Reconstruction and Development, and European Energy Efficiency Fund.

EDF was invited to attend this conference based on a series of conversations over the last year with European stakeholders facing the same barriers to investing in energy efficiency as their American counterparts. With policymakers in Europe similarly counting on a vast expansion of the market in building retrofits and an expected influx of private and public capital, there is a focus on standardization and policies that can enable capital and investors to enter the market with fewer transaction costs. Read More »

Posted in Clean Energy, Energy Efficiency, Energy Financing, Investor Confidence Project | 1 Response, comments now closed