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CDFA Energy & Water Finance Update - November 19, 2018

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CDFA Energy and Water Finance Newsletter
November 19, 2018
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Energy & Water Finance Update


Investing in Competitive Clean Energy Act
The Investing in Competitive Clean Energy Act is a CDFA legislative proposal that would fund credit enhancement tools and provide credit support for clean energy bond finance structures.

DC's Green Bank Could Be a Powerful Tool to Fight Climate Change
The DC Council continues to weigh action on clean energy legislation that could halve greenhouse gas emissions in the region. The bill contains funding for a critical tool the Council adopted over the summer: the DC Green Finance Authority, a "green bank" which was established to leverage public and private funds to invest in clean energy technologies and infrastructure.

Duke Energy Sells $1B worth of ‘Green Bonds'
Much of the money is likely to fund construction and operation of solar farms that Duke purchases or runs. The funds can also be used for other clean-energy efforts, such as Duke's plans to install hundreds of million of dollars worth of battery storage in the Carolinas over the next few years.

Leveraging Opportunity Zones to Improve Returns on Energy Investments
The Opportunity Zones incentive provides attractive tax benefits for investors with capital gains that, unlike other federal incentive programs, can be combined with the Investment Tax Credit ("ITC") and Production Tax Credit ("PTC") for facilities located in geographic areas that are designated as Opportunity Zones. 

Affordable Housing Developers Get New Tool to Finance Solar Arrays in CA
The Solar on Multifamily Affordable Housing (SOMAH) program was signed into law in October 2015 under California Assembly Bill 693 to install solar arrays on existing affordable housing developments and to make energy bill savings available to low-income households. The program is expected to launch in the fourth quarter of 2018. 

EPA Selects 39 Projects to Apply for Water Infrastructure Loans
The U.S. Environmental Protection Agency (EPA) is inviting 39 projects in 16 states and D.C. to apply for Water Infrastructure Finance and Innovation Act (WIFIA) loans. Together, the selected borrowers will receive WIFIA loans totaling up to $5 billion to help finance over $10 billion in water infrastructure investments and create up to 155,000 jobs.

Trump Authorizes $6B of Water Infrastructure Projects
The act will provide some relief for communities that struggle with water project funding, but, according to the American Society of Civil Engineers, it would take $1 trillion to meet U.S. water infrastructure repair and construction needs. The EPA pegs the amount at about $743 billion.

Opportunity Zones: A $100B Investment for the Clean Economy?
What is the potential for clean economy investments in Opportunity Zones? Will investors seek out vacant buildings to invest in rooftop solar, storage and deep energy retrofits to repurpose buildings for new uses? Will investors develop brownfields to become community solar brightfields?

Upcoming Events
Intro Property Assessed Clean Energy (PACE) WebCourse

CDFA - PFM Capital Markets Webinar Series - The Capital Markets Today
November 28, 2018 - 2:00 - 3:30 PM Eastern
Understanding market forces at play in the capital markets is essential to successfully operating a bond financing program. Whether you issue one bond a year or hundreds in multiple categories, it's important to follow the conversation among economists and analysts as they evaluate monetary policy, changes in the capital markets, and movements in stock market indices. What about that flattening yield curve? And will tariffs affect the markets? This webinar will share insights on today's capital market, including insight and the role rating agencies play in the capital market. 

Energy Finance News

Duke Energy Partners with MD County to Create Microgrids
Daily Energy Insider | Nov. 20 | Economic Development | Energy Finance

$98M DOE Funding Facilitates Energy Transformation
Smart Energy International | Nov. 20 | Economic Development | Energy Finance

Freedom Solar Financial Raises $7.5M for Commercial Solar
Solar Builder | Nov. 19 | Energy Finance

Charging Stations at Schools to Power Electric Vehicles, Student Minds
Statesman | Nov. 15 | Energy Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing | Urban Development

UI Solar Farm Utilizes PPA for P3
The News-Gazette | Nov. 12 | Energy Finance | Green Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing

Highlights from the Online Resource Database

PISCES Recognition Program 2018 Compendium
Energy Finance | U.S. Environmental Protection Agency (EPA) | Water Finance
This report, produced by the U.S. Environmental Protection Agency, looks at the CWSRF's Performance and Innovation in the SRF Creating Environmental Success (PISCES) program and how it allows recipients to gain national recognition for exceptional projects funded by the CWSRF.

Funding Land Conservation Projects with the CWSRF
Energy Finance | U.S. Environmental Protection Agency (EPA) | Water Finance
The U.S. Environmental Protection Agency's (EPA) Clean Water State Revolving Fund (CWSRF) program is an affordable source of funding for a wide range of projects that address water quality, including land conservation and restoration projects. The conservation of natural lands reduces contamination at the source, protecting water quality and lessening the need for wastewater treatment through traditional methods.

Drinking Water State Revolving Fund Fact Sheet
Energy Finance | U.S. Environmental Protection Agency (EPA) | Water Finance
This fact sheet, produced by the U.S. Environmental Protection Agency, shares information on the Drinking Water State Revolving Fund, a federal-state partnership that provides financial support to water systems and state drinking water programs.

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

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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