New Mexico Enacts Community Solar, Commits to Energy Equity
More New Mexicans can now opt in to using renewable energy to power their homes after a year of rulemaking done by the Public Regulation Commission. The new Community Solar Rule, passed into law in April 2021 and adopted by the PRC on March 30, 2022, will mandate that 30% of the electricity produced by shared solar facilities be distributed to low-income communities and the organizations that support them.
Watch "Public-Private Partnerships (P3) Financing for Energy" from the Infrastructure Finance Series
View the next video installment from the Infrastructure Finance Series, created in partnership with Frost Brown Todd LLC and its affiliate FBT Project Finance Advisors LLC. View this video to learn the different ways these renewable energy deals can be structured and the common characteristics and drivers of P3 financing throughout the country.
The Meaning of New York State Mining Moratorium for Crypto Industry
On April 26, the State of New York Assembly voted for a two-year moratorium on crypto mining operations that use energy generated by fossil-fuel power plants. This development could either signal a new alarming legislative trend or a trigger that would accelerate the digital asset industry's movement toward a more sustainable path.
Oklahoma Loans $268M to Edmond Water Infrastructure Projects
The Oklahoma Water Resources Board has approved $268,200,000 in funding for the Edmond Public Works Authority's water infrastructure. Two requests totaling $185,000,000 will be financed by Oklahoma's Drinking Water State Revolving Fund, with $1,000,000 of the loan will be in the form of loan forgiveness, and a third loan totaling $83,200,000 will be funded through the Financial Assistance Loan Program.
Capital Good Fund Launches Rooftop Solar Loan Fund for Rhode Island and Massachusetts
A new loan fund started by a Rhode Island-based financial institution will help low-income borrowers who might not qualify for traditional loans to pay for rooftop solar panels. The DoubleGreen Solar Loan Program was recently announced as a partnership between Capital Good Fund and New England-based solar installers to help make it easier to pay for rooftop solar in Rhode Island and Massachusetts.
Washington to Smarten Its Streetlights with LEDs, Wifi
Washington, D.C. is heading to Wall Street to get funding for a district-wide program to replace all its streetlights with LED technology and install wireless access points in order to expand broadband reach. D.C. is borrowing $154.5 million through muni green-bonds, the first public-private partnership by nation's capital.
Bank of America Mobilized and Deployed $250B in Sustainable Finance Capital in 2021
Bank of America announced today that it mobilized and deployed approximately $250 billion in sustainable finance activity for 2021. This company has made tremendous progress towards mobilizing and scaling capital deployment to drive environmental and social change in line with the 17 United Nations Sustainable Development Goals.
Illinois State Senate Approves Energy Grid Reliability Task Force
The state Senate has advanced a measure to create a task force to study electric grid reliability in light of the 2021 passage of the energy regulatory overhaul bill known as the Climate and Equitable Jobs Act. A House committee, meanwhile, began preliminary conversations about lifting the ban on new nuclear developments in Illinois.