Selected category: Energy Financing

Austin Launches Texas’ Inaugural PACE Program, Unleashes Private Funding for Water and Energy Efficiency

By: Charlene Heydinger, Executive Director, Keeping PACE in Texas

PACEinaBox-logoToday marked a milestone for Texas’ clean energy economy. Travis County voted to adopt the Property Assessed Clean Energy (PACE) program, making it the first county in Texas to do so. This means Austin and the surrounding area will soon reap the economic and environmental benefits from giving energy-intensive, thirsty Texas a reprieve with water efficiency and clean energy.

What is PACE?

PACE, enacted during the 2013 Texas Legislature with support from both sides of the aisle, has the potential to unlock a considerable amount of private funding for clean energy projects in the state. Specifically, it is an innovative financing program – completely free of government mandates and public funding – that enables commercial, industrial, multi-family, and agricultural property owners to obtain low-cost, long-term loans for water conservation, energy-efficiency, and renewable energy projects. Participants will then repay these loans for clean energy projects through their property tax bill. Read More »

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Clean Energy Industry is Not Yet Mature – and that’s a Good Thing

graph-163509_640Last year, global investment in clean, renewable sources of energy grew by a better-than-expected 16 percent to $310 billion, according to Bloomberg New Energy Finance (BNEF). Industry watchers applauded the strong showing, but the numbers imply more than just robust growth. A careful analysis leads us to two additional illuminating conclusions about the industry’s current level of development and its future.

 

  1. The clean energy industry is in a development phase

In 2013, China’s gross domestic product (GDP) grew 8.5 percent, with investment comprising 47 percent of GDP. By contrast, GDP in the United States expanded 1.9 percent, with investment comprising 16.8 percent. As a developing country, China’s growth rate is significantly higher, and a telling characteristic for developing countries is that investment makes up a relatively large percentage of GDP.

This pattern doesn’t just hold true for countries; we also see a similar dynamic when looking at industries. According to BNEF, the oil & gas (O&G) industry spent $913 billion on capital expenditures, or capex, last year, while the market capitalization, or market cap, for the top ten companies in the NYSE Arca Oil & Gas Index stood at $1.63 trillion. By contrast, the market cap for the top ten companies in the Wilder Hill New Energy Global Index was much smaller at $164 billion. The Wilder Hill New Energy Global Index comprises 107 companies from around the world that cover a broad spectrum of clean energy technologies. Read More »

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Let’s Talk About Solar Power and Equity

rp_solar-cells-491701_640-300x200.jpgWe need to have “the talk” about solar power and equity, because ignoring uncomfortable questions will invite misinformation and bad decisions. We need an informed dialogue about how local solar power can impact low-income communities and communities of color in the U.S. We need to talk about “all the good things, and the bad things, that may be.”

First things first: the price of solar panels has fallen by 80 percent since 2008. This significant decrease in cost, coupled with incentives such as net metering which allow customers to send the energy they produce from their solar systems back to the grid and receive a credit on their bill, and the emergence of new financing models like solar “leasing” programs, has led to an explosion of local solar in the U.S.

We now boast an estimated 20 gigawatts of solar energy nationwide (enough to power more than four million U.S. homes), and the United States added more solar capacity in the past two years than in the previous 30 years combined. In fact, as President Obama highlighted in his State of the Union address, “every three weeks, we bring online as much solar power as we did in all of 2008.”

Read More »

Also posted in Air Quality, California, Clean Energy, Renewable Energy| Read 11 Responses

Energy Efficiency Market Players Can Choose from Growing List of Trained Project Developers

By: Matt Golden, Senior Energy Finance ConsultantICP Credentialed Project Developer Logos 400x800 v2

The Investor Confidence Project (ICP), an EDF initiative designed to unlock investment in energy efficiency, is making progress toward completing a credentialing system that would provide third-party validation of an energy efficiency project. The latest development is the Project Developer Credential, the second of three in the ICP credentialing system.

ICP is accelerating the development of a global energy efficiency market by standardizing how projects are developed and energy savings are calculated. The ICP system includes a set of protocols for developing energy efficiency projects as well as a credentialing system.

The Project Developer Credential is given to those developers who are able to properly deploy the ICP protocols when undertaking an energy efficiency retrofit. This latest development is an important step forward for investors of all types, especially building owners, who can now select developers from a growing list of credentialed providers. Read More »

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SfunCube: Lighting the Way for Solar Innovation in California

rp_ca_innov_series_icon_283x204.jpgEDF’s Innovators Series profiles companies and people across California with bold solutions to reduce carbon pollution and help the state meet the goals of AB 32. Each addition to the series will profile a different solution, focused on the development of new technology and ideas.

By: Anna Doty, West Coast Policy Associate

Emily Kirsch calls herself a “solar-lifer.” Kirsch came onto the solar scene by way of former Obama advisor Van Jones’ green jobs campaign in Oakland. Now, as the co-founder and CEO of Oakland-based SfunCube—the world’s only solar-exclusive start-up business accelerator—Kirsch is growing California’s clean economy in an entirely new way and she knows the future of solar is bright.

Nestled in the heart of downtown Oakland, SfunCube—Solar for Universal Need—is supporting a growing “solar ecosystem” of the most promising solar startups that are making the San Francisco Bay Area the nation’s epicenter for solar innovation and entrepreneurship. Recently, I had the opportunity to talk with Emily Kirsch and some of the solar pioneers who are working at SfunCube to make universal access to solar a reality in California, throughout the US, and around the world.

In California today, there are over 1,889 solar companies that are part of the solar supply chain, creating more than 50,000 jobs—roughly a third of all the solar jobs in the country—and that is no coincidence. Read More »

Also posted in California, Clean Energy, Renewable Energy| Read 2 Responses

5 Reasons the Future of Clean Energy Investing Looks Stronger than Ever

investment LendingMemoWhy invest? To make money.

People don’t invest in an industry to save the world or promote a cause; they invest because they believe the amount they put in will ultimately be returned to them as a much greater sum.

You’ve got to spend money to make money and, when it comes to clean energy, there is a lot of money to be made. Here are five reasons clean energy investment will continue its positive performance in 2015 and beyond.

1. Clean energy investment has been – and continues to be – on the rise

Recent buzz around clean energy investment has centered on a new Bloomberg New Energy Finance (BNEF) report detailing the global clean energy industry’s strong 2014 investment results, results that even “beat expectations”.  While 2004-2014 saw an extended recession and high unemployment for the global economy, clean energy investment grew five-fold during those 10 years, up from $60.2 billion in 2004 to an impressive $310 billion this past year, according to BNEF. Read More »

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    EDF Energy Exchange - Accelerating the clean energy revolution

    EDF's energy experts discuss how to accelerate the transition to a clean, low-carbon energy economy.

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