Category Archives: Energy Financing

EDF Co-Hosts International Green Bank Summit on Catalyzing Private Sector Capital for Clean Energy

ny-green-bankIn order to fund the transition to a low-carbon economy at a pace rapid enough to prevent runaway climate change, the International Energy Authority has estimated that an annual $1 trillion will be required globally. What policies or mechanisms can be used to facilitate private capital engagement on so grand a scale?: Green banks, which are government-created financial institutions that use attractive interest rates and other incentives to leverage money from the private sector to fund clean energy projects.

Earlier this week, EDF co-hosted the first day of the two-day, second annual International Green Bank Summit in our New York City headquarters, bringing together green bank stakeholders from around the world. The summit focused on how green banks can better leverage limited amounts of public capital to engage and accelerate the deployment of private capital into essential energy efficiency, renewable energy, and climate change mitigation initiatives.

Green banks are catalysts

With one dollar of public finance leveraging about three dollars of private capital, global green banks have catalyzed nearly $20 billion dollars to date in clean energy projects around the world and expect to raise more than $40 billion over the next five years. So far, only a handful of countries have developed green banks. Read More »

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Two Years After Sandy, the Conversation Around Energy Resiliency Still Going Strong

By: Audrey Hornick-Becker

From left to right: Bruce Schlein, Director, Alternative Energy Finance, Citi; Vic Rojas, EDF senior manager, financial policy; Bryan Garcia, President, Connecticut Green Bank; Alfred Griffin, President, NY Green Bank

From left to right: Bruce Schlein, Director, Alternative Energy Finance, Citi; Vic Rojas, EDF senior manager, financial policy; Bryan Garcia, President, Connecticut Green Bank; Alfred Griffin, President, NY Green Bank. Source: Maria Jiang.

Last week, EDF co-hosted a successful first-of-its-kind Resilience Finance Symposium in New Jersey, attended by about 120 participants from a wide spectrum of public and private entities in the state, region, and country.

Held on November 12 with Governor Christie’s Administration and the New Jersey Institute of Technology’s College of Architecture + Design, the all-day Resilience Finance Symposium: Building Resilient and Sustainable Energy Solutions for New Jersey’s Key Infrastructure featured a series of panels on solutions that help keep the lights and heat on during critical times, like microgrids and energy storage, as well as innovative ways of financing resilient energy systems.

A main topic of discussion was the impressive progress New Jersey has made toward making the state’s energy infrastructure more resilient in the two years since Superstorm Sandy caused a massive weeks-long power outage. Panelists pointed to Sandy success stories – those instances when power stayed on even when the grid went down – and discussed the need to make these kinds of successes the norm rather than the exception. Read More »

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EDF Energy Efficiency Initiative Goes International with Investor Confidence Project Europe

By Panama Bartholomy, Director, ICP Europe, with contributions from Steven Fawkes, Senior Advisor, ICP Europe

andy darrell at icp europe

EDF's Andy Darrell, Chief of Strategy, US Climate and Energy and New York Regional Director, at the ICP Europe launch in Brussels

Environmental Defence Fund’s signature energy efficiency initiative has gone international. EDF Europe/UK today rolled out the Investor Confidence Project Europe (ICP Europe), aimed at boosting private sector investment in European energy efficiency renovation projects in the building sector.

As Director of ICP Europe, I was thrilled to introduce the initiative with leaders from the financial, engineering, and government communities at an event in Brussels during a week when two of Europe’s largest energy efficiency events are being held: Renovate Europe Day and Building Performance Institute of Europe ‘s Efficiency Investors Day.

The potential for renovating existing buildings in Europe to reduce the impacts of climate change, generate financial savings, and create jobs is considerable – and largely untapped. Estimates say that large-scale energy efficiency efforts in Europe could reduce carbon emissions by 932 million metric tons, equivalent to taking nearly 200 million cars off the road, and create more than 1 million new jobs in the building industry by 2050. Read More »

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5 Energy Trends that will Change the Balance of Power

Neon FlagBy: Dan Upham, Editor

We no longer fret over taxes on tea, but there’s another American Revolution forming in our great nation today. Like the colonist uprising 241 years ago, it’s fueled by a need to stand up against an outdated system that threatens our way of life.

It’s a battle over the future of American energy and our antiquated electric grid. And it centers around the way consumers, utilities, and investors interact with this vast network of powerlines, substations, and plants.

As Cheryl Roberto, who leads Environmental Defense Fund’s Clean Energy program, notes, “The U.S. is poised to spend around $2 trillion over the next two decades replacing our outdated electric infrastructure.”

That’s a lot of coin and a tremendous opportunity. Read More »

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USDA Loan Improves Energy Efficiency in Rural North Carolina

carolina houseA rural electric cooperative in North Carolina is one of the first in the country to receive funds from a new United States Department of Agriculture (USDA) on-bill finance program that will help customers improve energy efficiency, lower utility bills, and reduce carbon pollution. Roanoke Electric Membership Cooperative, which serves 14,ooo rural customers, is in my home state.

Roanoke Electric’s membership base is similar to other economically distressed rural areas, which have a growing elderly population and residents with homes that need energy-saving upgrades.

The cooperative diligently promotes energy efficiency, yet there are still customers with utility bills that are higher than their mortgage payments some months. Securing upfront capital to finance home improvements can be challenging. Read More »

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Barriers to Clean Energy Financing Could Fall with EPA Plan

windows_378x235Considering installing solar panels or weatherization to go along with the remodeling project you’ve been thinking about? Energy bills would drop and your carbon footprint would shrink, a true win-win.

Whether it’s financially doable may depend on where you live, of course. Clean energy financing in the United States is a hodgepodge of public and private-sector programs that vary considerably across, and within, state boundaries.

What will it take?

Connecticut homeowners in some – but not all – cities can tap into the state’s Smart-E loans available from five- to 12-year terms at an interest rate that won’t exceed 6.99 percent, and with no equity down. Read More »

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