Congress overwhelmingly approved a $900 billion stimulus package that would send billions of dollars to American households and businesses grappling with the economic and health toll of the pandemic. The long-sought relief package was part of a $2.3 trillion catchall package that included significant bipartisan deals to counter climate change and promote clean energy, the first such legislation to pass Congress in nearly a decade.

An ambitious green technology project in Nevada's high desert aims to build the largest carbon-neutral industrial park powered by locally generated renewable energy in the United States. TerraScale, a firm that specializes in clean energy design, announced that it plans to develop up to 3,700-acres of land just east of Reno for its Energos project. The project will start with $220 million worth of development on 10 acres of land for its first phase.

The Illinois Environmental Protection Agency and the Illinois Finance Authority closed their joint $500 million Clean Water Initiative – State Revolving Fund Revenue Bonds, Series 2020 Green Bonds. The bonds maintained the highest rating, "AAA" from both Fitch Ratings and Standard & Poor's Global Ratings. The bonds were priced on December 15th at a premium, netting the State Revolving Fund Program a total of $634 million. The proceeds of the Series 2020 Green Bonds will be used to deliver clean water to the people of Illinois and fund wastewater treatment at a lower cost while putting people to work.

Counterpointe Sustainable Real Estate closed $2.8 million in Commercial Property Assessed Clean Energy (C-PACE) funding for a 108-bed senior housing community to be constructed in Houston, Texas, providing local access to quality senior housing and care in the Copperfield area. The PACE financing supports planned energy-saving measures including building envelope, interior and exterior LED lighting, HVAC and domestic hot water, as well as low-flow fixtures.

Of importance in the stimulus is a one-year extension to the production tax credit (PTC) for wind projects under Section 45 of the tax code; a two-year extension to the investment tax credit (ITC) for solar projects under Section 48; a new five-year ITC for off-shore wind projects (without any phase-out) under Section 48; and a two-year extension of the PTC for carbon capture projects under Section 45Q.

To ensure that Virginia's coal country doesn't miss out on opportunities in large-scale solar, the Solar Foundation and the Solar Workgroup of Southwest Virginia have developed a step-by-step guide for how municipalities and counties can encourage utility-scale or commercial solar projects. The playbook includes guidance on engaging stakeholders, identifying and resolving barriers, reviewing development proposals and adopting local planning and zoning regulations to facilitate solar energy in legacy coal country.

Seattle City Light has announced that it will significantly expand its "Energy Efficiency as a Service" (EEaS) pilot program in 2021. The EEaS financing model provides a new revenue stream for building owners by allowing them to capitalize on the energy efficiency potential of their buildings. It also creates incentives for deeper energy efficiency retrofits and financing over a much longer term than standard energy efficiency programs.

Both houses of Congress passed a measure long sought by flood-vulnerable towns and rivers bordering the Mississippi River: the Resilience Revolving Loan Fund Act. The bill authorizes the Federal Emergency Management Agency (FEMA) to enter into agreements with any state or Indian tribal government to make capitalization grants for the establishment of hazard mitigation revolving loan funds.

Intro Bond Finance WebCourse
February 24-25, 2021 - Daily: 12:00 - 5:00 PM Eastern

Intro Tax Increment Finance WebCourse
March 24-25, 2021 - Daily: 12:00-5:00 PM Eastern

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To ensure that Virginia's coal country doesn't miss out on opportunities in large-scale solar, the Solar Foundation and the Solar Workgroup of Southwest Virginia have developed a step-by-step guide for how municipalities and counties can encourage utility-scale or commercial solar projects. The playbook includes guidance on engaging stakeholders, identifying and resolving barriers, reviewing development proposals, and adopting local planning and zoning regulations to facilitate solar energy in legacy coal country. The publication also discussing financing options for using PACE, Opportunity Zones, and other programs to support solar projects.

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