Energy Exchange

PACE Financing for Clean Energy, Part 2: Lowering the Funding Costs

By Brad Copithorne / Published: March 21, 2014

Yesterday, my colleague Scott Hofmeister described an insurance pool that California has introduced to help communities integrate Property Assessed Clean Energy (“PACE”), a unique program that allows homeowners to finance money-saving clean energy retrofits through their property tax bill. These programs are popular in Sonoma, Orange, San Diego, Riverside, San Bernardino, Kern, and Fresno Counties, and we expect them to spread rapidly throughout the state.

Home Energy Renovation Opportunity (HERO), a residential PACE program run by Renovate America that has partnered with the Western Riverside Council of Governments, has funded over $180 million of clean energy retrofit projects in a little more than two years of operation. These investments are expected to save homeowners more than 2 billion kilowatt-hours, reduce consumers’ utility bills by almost $500 million and avoid more than 1.4 million metric tons of CO2 emissions, or the equivalent of removing almost 300,000 passenger vehicles from the road for a full year. And notably, the HERO program is entirely funded by private investors. Read More »

Also posted in Clean Energy, Energy Efficiency, Energy Financing / Read 3 Responses

PACE Financing for California’s Clean Energy Future, Part 1: Expanding the Residential Market

By Scott Hofmeister / Published: March 19, 2014

When it comes to protecting the environment and fighting climate change, California has always been a first mover.

Now the state is boldly acting to unleash a new market that saves energy, cuts pollution, and drastically increases clean energy investment for California’s residents.

Last week, California approved a $10 million reserve that will revive the Property Assessed Clean Energy (PACE) program for residential customers.

PACE allows customers to take advantage of energy saving upgrades to their home with no money down. Customers simply use a portion of their savings to pay off the investment over time through their property tax bill. Financing can be entirely provided by private lenders at no cost to taxpayers. Read More »

Also posted in Clean Energy, Energy Efficiency, Energy Financing, On-bill repayment, Renewable Energy / Tagged PACE | Read 2 Responses

CPUC Singing the Right Tune on SONGS, But Southern California Still Needs to Harmonize to Achieve a Clean Energy Future

By Lauren Navarro / Published: March 18, 2014

Last week, the California Public Utility Commission (CPUC) finalized an important decision for Southern California’s energy supply following the closure of the San Onofre Nuclear Generating Station (SONGS). The plan emphasizes increased reliance on clean energy in this part of the state – an important step towards a fully realized low-carbon future.

The decision authorized San Diego Gas and Electric and Southern California Edison to procure at least 550 megawatts (MW) of ‘preferred resources,’ which include renewable energy, demand response (a tool that’s used by utilities to reward people who use less electricity during times of “critical,” peak electricity demand), energy efficiency, at least 50 MW of energy storage, and up to 1,000 MW of these resources altogether.

That’s a major step forward, as utilities across the country traditionally rely on large fossil fuel plants to meet regional demand. Read More »

Also posted in Clean Energy, Demand Response, Electricity Pricing, Energy Efficiency, Grid Modernization / Read 6 Responses

Science and Economics Agree: The Time is Right for California to Get Serious About Methane Pollution

By Larissa Koehler / Published: March 10, 2014

Recent numbers from the Intergovernmental Panel on Climate Change (IPCC) show that methane (CH4) is about 80 times more potent than carbon dioxide (CO2) in contributing to climate change over the first 20 years after it is released. Short-lived climate pollutants, like methane, are a large factor in determining how fast our climate will change over the next few decades.

These figures are particularly relevant in California where natural gas (which is about 99.9% methane) is used throughout the economy. For example, natural gas generates much of the state’s electricity through gas-fired power plants, is extensively used for home heating and cooking, and is increasingly being deployed as an alternative fuel for the state’s cars and trucks.

Yet, while California continues to operate and further build out a natural gas backbone in its energy economy, venting and leakage of uncombusted natural gas from pipes and machines can have an environmental impact. In fact, research shows that keeping methane leakage down to a minimum level is the only way to guarantee that the use of natural gas will provide immediate climate benefits, when switching from petroleum products. Read More »

Also posted in Colorado, Methane, Natural Gas, Wyoming / Comments are closed

Funding the Future with a California Green Bank

By Brad Copithorne / Published: March 6, 2014

Two weeks ago, State Senator Kevin de León introduced a bill to establish the first “Green Bank” in California, a bold proposal that would unleash low-cost financing opportunities for clean energy projects throughout the Golden State.

I recently had the opportunity to testify at a hearing on the bill to discuss the best practices for green banks across the country and how the program would work in California.

First, a bit more on Green Banks:

At its core, the program is a clean energy finance bank set up by the state, designed to enable increased investment in clean energy projects and companies by working closely with the private sector to remove financial or structural barriers. The goal is simple: increase the amount of clean energy at a low-cost and encourage private investment by reducing the overall risk of clean energy projects. Read More »

Also posted in Clean Energy, Energy Efficiency, Energy Financing, Renewable Energy / Tagged Green banks | Comments are closed

Art and Sustainability: The Next Big Thing

By Jorge Madrid / Published: February 12, 2014

“Today is about making our community more beautiful,” exclaimed State Assemblyman Raul Bocanegra (D-Pacoima), at a recent EDF-sponsored community art show and mural launch complete with live DJ’s, an interactive urban planning workshop, local artists, and youth activists.

I know what you might be thinking. “Say what? EDF and art?”

This is one of the new routes we’re taking in our commitment to “finding the ways that work.”

We looked to accomplish two things with this project: to help spark imagination and civic pride by bringing local artists and youth together to create a vision for a more sustainable city, and to make a concerted effort to meet the community where they are on the environmental issues they care about. The results were both inspiring and enlightening.

Our first launch event, in Fresno, CA, featured local muralist Mauro Carrera and local nonprofit partner organizations Valley LEAP, Arte Americas, and Fresno Building Healthy Communities. Read More »

Also posted in Clean Energy, Climate, State / Comments are closed