Join CDFA for Our New Intro Federal Finance Course
Register for CDFA's Intro Federal Finance Course taking place on December 13-14 to learn the federal funding resources available to help advance economic development. Our panel of expert speakers will discuss how federal support tools can work in coordination with other development finance tools for programs and projects on the local level.
An IRA Grant Could Help Low-Income Residents in New Hampshire Go Solar
New Hampshire's Department of Energy has requested a $70 million federal grant to expand community solar programs for low-income residents, an infusion of funds that supporters say could lower energy bills, accelerate decarbonization, and perhaps even catalyze the development of much-needed affordable housing.
U.S. DOE Announces $31M in Energy Efficiency and Conservation Block Grants
The U.S. Department of Energy (DOE) announced the next 19 state and local governments to receive more than $31 million in formula grants through the Energy Efficiency and Conservation Block Grant Program, funded by the Bipartisan Infrastructure Law and managed by DOE's Office of State and Community Energy Programs. Funds will advance crucial clean energy and infrastructure upgrades by state governments, local governments, and in Puerto Rican municipios.
Nation's Largest-Ever State Investment in Renewable Energy is Moving Forward in New York
Governor Kathy Hochul announced the largest state investment in renewable energy in United States history, demonstrating New York's leadership in advancing the clean energy transition. The conditional awards include three offshore wind and 22 land-based renewable energy projects totaling 6.4 gigawatts of clean energy, enough to power 2.6 million New York homes and deliver approximately 12% of New York's electricity needs once completed.
Evergrow Announces First Funding of a Clean Energy Tax Credit Transfer Following IRA
Evergrow, the clean energy finance company, has successfully completed the funding of a clean energy tax credit transfer on its platform, the first of its kind to be announced. This announcement follows the recent publication of tax credit transfer guidance by the IRS and the recent announcement by Bank of America of its commitment to orchestrate the transfer of $580 million of clean energy tax credits.
IECA Closes $11M in C-PACE Financing for Rockford, IL MF Conversion
The Illinois Energy Conservation Authority NFP (IECA), an Illinois tax-exempt nonprofit, announced it closed $10.9 million in financing for a C-PACE multifamily project in Rockford, Illinois. The transaction marks the second C-PACE closing in Winnebago County.
California Berkeley Hotel Project Scores Sector's Largest C-PACE Deal of 2023
North Bridge closed a $50 million C-PACE refinancing for the Residence Inn Berkeley, a 331-key, full-service hotel in Berkeley. This closing represents the largest C-PACE transaction for the hospitality industry in 2023 and the fourth-largest C-PACE hotel financing to date.
IRS Releases Long-Awaited Updates to Investment Tax Credit Regulations
The Internal Revenue Service (IRS) and Department of the Treasury released the long-awaited proposed regulations relating to Investment Tax Credits under Section 48 of the Code. These regulations help to clarify what qualifies as energy property that is eligible for the ITC, provide additional ITC-specific rules, and adopt various other rules relating to the ITC.
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