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CDFA Energy Finance Update - June 6, 2023

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CDFA Energy Finance Newsletter
June 6, 2023
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Energy Finance Update


Mark Your Calendar for the 2023 CDFA Virtual Summer School!
Join us August 7-15 for a series of courses presented by the CDFA Training Institute. CDFA Virtual Summer School will offer five different training courses, all held online. Learn from our expert practitioners and experience CDFA's most interactive educational event of the year – all from the comfort of your home or office! All CDFA Virtual Summer School courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program.

New Mexico Solar Tax Credits, Incentives, and Rebates (2023)
New Mexico is one of the sunniest states in the country, which makes solar panels more productive there than in many other regions of the United States. The state offers several tax incentives for solar energy systems, which improves the return on investment for homeowners to switch to solar power.

Join CDFA for Our Upcoming Intro Tax Increment Finance Course!
Register for CDFA's Intro Tax Increment Finance (TIF) Course taking place on June 14-15 to learn the guiding principles and appropriate application of TIF. Our panel of expert speakers will discuss TIF deal-making and best practices highlighted by projects from around the country.

HUD Announces $837M for Housing Energy Reduction Costs
The U.S. Department of Housing and Urban Development (HUD) announced new funding through the Green and Resilient Retrofit Program (GRRP) to reduce greenhouse gas emissions and improve the energy and water efficiency and climate resilience of HUD-assisted multifamily properties serving low-income residents. The Inflation Reduction Act provided HUD with $837.5 million in grant and loan subsidy funding and $4 billion in loan commitment authority for this new program. 

California Solar Panel Incentives: Tax Credits, Rebates, Financing, and More
California dominates the American solar energy market, deriving 28% of its electricity from solar. Several incentives, credits, and rebates are available to all Californians who invest in solar energy systems, however, its current incentives for solar panels lag behind several other states. These incentives include the California Self-Generation Incentive Program, the Disadvantaged Communities – Single-Family Solar Homes program, California net metering incentives, and much more. 

Virginia Beach, VA Joins C-PACE Program for Commercial Energy Efficiency Improvements
Virginia Beach announced that they've joined the statewide Commercial Property Assessed Clean Energy (C-PACE) program, administered by the Virginia PACE Authority with support from Virginia Energy. The program will allow for energy efficiency improvements to be made to commercial and industrial properties by having access to low-cost, long-term financing.

DSD Secures $75M in Financing to Support 61 MW of C&I Projects
DSD Renewables has closed on $75 million in tax equity financing from Bank of America to support the company's 2023 build plan. The funding will support the development and deployment of 61 MW of commercial and industrial (C&I) projects, as well as community solar and storage assets, across California, Connecticut, Illinois, New Jersey, New York, Massachusetts, Minnesota, Pennsylvania, and Washington, D.C.

U.S. Greenlights Major Transmission Line for Renewable Energy in Western States
The U.S. government is greenlighting a proposed multibillion-dollar transmission line that would send primarily wind-generated electricity from the rural plains of New Mexico to big cities in the West. The Interior Department announced its record of decision for the SunZia project. It comes about a year after an environmental review was completed as part of a broader effort by the Biden administration to clear the way for major transmission projects as it looks to meet climate goals and shore up the nation's power grid.

Upcoming Events
Intro Tax Increment Finance Course

CDFA Legislative Briefing - MAMBA and the 118th Congress
June 8, 2023 - 1:00 PM - 2:00 PM Eastern
CDFA's key legislative issue--The Modernizing Agricultural and Manufacturing Bonds Act (MAMBA)--was introduced with bipartisan support in the U.S. House of Representatives on June 1. The bill modernizes first-time farmer bonds and industrial development bonds to ensure that manufacturers have affordable capital access to allow them to establish and grow their businesses. In this legislative briefing, CDFA's Eric Silva and Mitchell Smith will provide an overview of MAMBA, how it will impact the private activity bond space, and the process by which CDFA will get MAMBA passed in the 118th Congress.

CDFA-Bricker Webinar Series: National Updates for C-PACE Financing
June 21, 2023 - 2:00 PM - 4:00 PM Eastern
This installment of the CDFA-Bricker Webinar Series will provide insights on the recent advancements in C-PACE financing such as recent state legislative activity, along with innovative market-based solutions throughout all segments of the C-PACE market.

Energy Finance News

Boston, MA-Based Community Solar Developer Nexamp Secures Over $400M in Financing
pv magazine | Jun. 5 | Energy Finance | Tax Credits

OCOchem Wins $2.5M DOE Award to Advance Clean Hydrogen Technologies
Yahoo! Finance | Jun. 5 | Energy Finance | U.S. Dept. of Energy (DOE)

Ventura, CA Receives $173M in WIFIA Loans
Environmental Protection Agency | May. 30 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance | Revolving Loan Funds (RLFs) | Water Finance | WIFIA | Water Infrastructure Finance and Innovation Act (WIFIA)

The Inflation Reduction Act Sparks a Clean Energy Revival for Rural Businesses
Triple Pundit | May. 30 | Energy Finance

Utah-Based Summit Vista Gets $160M in C-PACE Financing
Skilled Nursing News | May. 30 | Energy Finance | Property Assessed Clean Energy (PACE) | Water Finance

San Francisco, CA Receives $369M in Federal Loans for Stormwater Infrastructure
NBC Bay Area | May. 26 | Access to Capital | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Stormwater | WIFIA | Water Infrastructure Finance and Innovation Act (WIFIA)

Biden-Harris Administration Allocates $48M for Indian Country Water Projects
Mirage News | May. 23 | Agriculture Finance | Community Development | Economic Development | Tribal Finance | Water Finance

$9.7B to Bring Clean Energy to Rural Electric Coops
pv magazine | May. 22 | Energy Finance

Minneapolis, MN Climate Equity Action Plan: How Is The City Approaching Climate Justice?
Energy News Network | May. 22 | Energy Finance

4 Houston, TX Companies Snag DOE Funding for Carbon Advancement
Innovation Map | May. 22 | Energy Finance | U.S. Dept. of Energy (DOE)

Palm Beach County, FL Sues PACE Provider After Refusing to Abide by Rules
The Palm Beach Post | May. 22 | Energy Finance | Property Assessed Clean Energy (PACE)

West Virginia to Receive $20M for Water Infrastructure Upgrades
Office of Senator Manchin | May. 18 | Access to Capital | Development Finance Toolbox | Federal | Water Finance | Drinking Water | Sewage & Waste

$11B Investment to Advance Clean Energy Across Rural America
USDA | May. 16 | Energy Finance | Federal | Rural Development

Water Street in Tampa, FL Makes Big Economic Waves
Axios | May. 14 | Economic Development | Redevelopment | Tax Increment Finance (TIF) | Water Finance

Loysville, PA Infrastructure Infused with Federal Funding
Penn Live Patriot News | May. 13 | Agriculture Finance | Federal | Infrastructure Finance | Rural Development | Water Finance

$50M to Boost Clean Energy Solutions and Cut Costs for Rural America
Energy.gov | May. 11 | Energy Finance | Infrastructure Finance | Rural Development | U.S. Dept. of Energy (DOE)

EPA Announces 2023 Clean School Bus Grant Program
U.S. EPA | May. 8 | Access to Capital | Energy Finance | Federal | Green Finance | U.S. Environmental Protection Agency (EPA)

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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CDFA National Sponsors

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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