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CDFA Energy Finance Update - March 7, 2023

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CDFA Energy Finance Newsletter
March 7, 2023
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Energy Finance Update


Join Us for the First Installment of the 2023 CDFA-Bricker Webinar Series!
With the passage of recent legislation, there is a multitude of increased public incentives and financing programs being developed along with existing programs, including PACE financing, which continues to drive investments in sustainable building systems along with other energy assets like utility-scale solar. Join us on March 7 at 2:00 PM ET for an overview of the current landscape of public incentives and financing options for green and sustainable assets.

Tax Saving Opportunities in Alaska for Energy Efficiency Improvements
Alaskans who are considering improvements to increase their home's energy efficiency may have new financial incentives to do so. Recent changes to tax laws will allow homeowners to receive more tax credits for qualified energy efficiency improvements. Two tax credit changes can benefit homeowners: the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit.

Coming Up Next Week: CDFA's Intro and Advanced Bond Finance Courses!
Join CDFA for our upcoming Bond Finance Week! The Intro Bond Finance Course will take place on March 13-14 followed by the Advanced Bond Finance Course on March 15-16. Register for one or both of these courses to learn from experts about how to bring economic growth to your community by utilizing the vast resources of the bond finance industry.

Thurston County, WA Launches C-PACER Program
Thurston County in Washington is now accepting applications for the new Commercial Property Clean Energy & Resiliency Program (C-PACER). C-PACER is a voluntary loan program that allows owners of eligible commercial properties in Thurston County to obtain long-term financing for qualified improvements related to energy efficiency, renewable energy, water efficiency, and building resiliency.

New Mexico Senate Plans to Enshrine Renewable Energy Development in State Law
A bill to make New Mexico's renewable energy office permanent advanced through the State House of Representatives recently and is awaiting further action in the Senate. In 2019, the Office of Renewable Energy was created in the New Mexico State Land Office to focus on renewable power developments throughout the state, a key aspect of the State's efforts toward its goal of 100 percent carbon-free energy by 2045.

Crafting Climate, Resources, and Environmental Budget Solutions in California
In response to the multibillion-dollar budget problem California is facing, the Governor's budget proposal identifies significant solutions to climate, resources, and environmental programs. This report describes the Governor's proposals and provides the Legislature with a framework for how it might modify those proposals to better reflect its priorities and prepare to address a potentially larger budget problem.

PACE Financing Comes to Tennessee
Property Assessed Clean Energy financing programs have been in existence since the early 2010s including three bordering states with very active programs: Kentucky, Virginia, and Missouri. Over 40 states have passed state-enabling legislation but only about 30 states have actively administered programs. In 2021, the Tennessee State Legislature passed PACE-enabling legislation HB 667, allowing counties or cities to establish PACE programs.

EPA Announces Initial Program Design of Greenhouse Gas Reduction Fund
The U.S. Environmental Protection Agency (EPA) announced initial guidance on the design of the Greenhouse Gas Reduction Fund program, created by President Biden's Inflation Reduction Act. EPA published two Federal Assistance Listings outlining key parameters of the grant competitions that will ultimately award nearly $27 billion to leverage private capital for clean energy and clean air investments across the country.

Guidance on Qualifying Advanced Energy Project Credit Program Released
The U.S. Treasury Department and the U.S. Department of Energy released information on the expanded Qualifying Advanced Energy Project Credit program. This program renews and expands an investment tax credit initially included in the American Recovery and Reinvestment Act of 2009. The program provides incentives for clean energy property manufacturing and recycling, industrial decarbonization, and critical materials processing, refining, and recycling.

Upcoming Events
Intro Bond Finance Course

CDFA-Bricker Webinar Series: Current Landscape of Public Incentives and Financing Options for Green & Sustainable Assets
March 7, 2023 - 2:00 PM - 4:00 PM Eastern
This installment of the CDFA-Bricker Webinar Series will provide an overview of public incentives and financing programs being developed with the passage of the Bipartisan Infrastructure Legislation and Inflation Reduction Act, along with existing programs - such as PACE financing - that drive investments in sustainable building systems and other energy assets.

CDFA Tribal Finance Webinar Series: Tribal Community-Driven Economic Development Solutions
March 14, 2023 - 2:00 PM - 3:30 PM Eastern
During this installment of the CDFA Tribal Financing Webinar Series, speakers will discuss how tribal governments and their partner organizations are working collaboratively to drive sustainable economic development.

Energy Finance News

Memphis, TN First C-PACE Loan Gives Assist to Uptown Studio and Storage Project
Memphis Business Journal | Feb. 27 | Energy Finance | Property Assessed Clean Energy (PACE)

Oregon to Receive $19M from Bipartisan Infrastructure Law for Drinking Water Infrastructure
The Chronicle | Mar. 5 | Access to Capital | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Water Finance | Water Finance | Legislative Activities | Drinking Water

Why Aren't More Solar Farms Built on Municipal Landfills?
Governing | Mar. 2 | Brownfield Financing | Economic Development | Energy Finance | Green Finance | Redevelopment | State Finance Program

Airports, EVs, Roads, Buses & More: $1.7B in Infrastructure Dollars Pour Into Idaho
Boise Dev | Feb. 27 | Energy Finance | Infrastructure Finance | Revolving Loan Funds (RLFs) | Rural Development | Water Finance | Broadband | Transportation | State Revolving Fund

How U.S. Cities Are Finding Creative Ways to Fund Climate Progress
Brookings | Feb. 27 | Energy Finance

50 States of Solar Incentives: South Dakota
pv magazine | Feb. 27 | Energy Finance | Green Finance

C-PACE Financing Slows to a Crawl in New York City
The Real Deal | Feb. 27 | EB-5 Visa | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Up to $27B Available for NPO Clean Energy Activities
The NonProfit Times | Feb. 27 | Energy Finance | Green Finance | U.S. Environmental Protection Agency (EPA)

$11.3M for Clean Water Infrastructure Upgrades in Vermont
U.S. EPA | Feb. 24 | Infrastructure Finance | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Water Finance | State Revolving Fund

Community Solar is About to Get a Surge in Federal Funding
Inside Climate News | Feb. 23 | Energy Finance | Green Finance | Understanding Energy Finance | Legislative Activities

The Electric Vehicle Industry's Mixed Welcome in the Southeast
The Bond Buyer | Feb. 23 | Energy Finance | Green Finance | Infrastructure Finance

United Launches $100M Plus in Sustainable Flight Fund
Biomass Magazine | Feb. 21 | Energy Finance | Green Finance | Innovation Finance | Energy Efficiency Programs | Entrepreneurial Financing

Green Energy Eyed as Fuel for Economic Engine at Stone Center in Wheeling, WV
The Intelligencer | Feb. 20 | Economic Development | Energy Finance | Green Finance | Tax Increment Finance (TIF)

IRS Issues Guidance for Energy Tax Credits in Low-Income Communities
McGuire Woods | Feb. 16 | Community Development | Economic Development | Energy Finance | Incentives | Tax Credits | U.S. Dept. of Energy (DOE) | U.S. Dept. of Treasury

Connecticut Green Bank Applauds EPA's Greenhouse Gas Reduction Fund Program Design
Connecticut Green Bank | Feb. 15 | Energy Finance | Green Finance | U.S. Environmental Protection Agency (EPA)

Biden Restarts $10B Tax Credit for Clean-Energy Makers
Yahoo! Finance | Feb. 13 | Energy Finance | Tax Credits | U.S. Dept. of Treasury

Guidance on Low-Income Communities Bonus Credit Program Released
U.S. Treasury | Feb. 13 | Access to Capital | Energy Finance | Legislative | Tax Credits | U.S. Dept. of Energy (DOE) | U.S. Dept. of Treasury | Renewable Energy Investment Tax Credit (ITC) | Legislative Activities | Renewable Energy Investment Tax Credit (ITC)

New Investments for Addressing Water Supply Challenges for Producers in the West
USDA | Feb. 13 | Access to Capital | Agriculture Finance | Federal | Resiliency | U.S. Dept. of Agriculture (USDA) | Water Finance

New York Announces $40M Investment in Infrastructure from Bipartisan Infrastructure Law
New York Governor's Office | Feb. 9 | Access to Capital | Infrastructure Finance | Legislative | Water Finance | Water Finance | Legislative Activities | Drinking Water

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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