Michigan Saves is one of the oldest and most effective green bank programs in the country, drawing about $30 in private investment per every public dollar invested. As President-elect Joe Biden's transition team prepares its green economic recovery plan, a Michigan clean energy finance program could provide a bipartisan model for how to spur energy savings and job growth.

The Water Resources Development Act of 2020 has passed through the House and, if approved by the Senate, would authorize $10 billion in new federal investment to build new water resource development projects across the country. These would include projects to improve and expand water infrastructure, invest in disadvantaged communities, replenish beaches, and improve coastal resilience.

Green banks are offering businesses a chance to borrow against previous investments in energy-saving upgrades. C-PACE, which stands for commercial property assessed clean energy, is more traditionally known for providing up-front financing for building owners to make their buildings more efficient, resilient, or healthy. C-PACE can also be used retroactively, but it's only recently that the backward-looking version of the program has gained visibility.

Public school districts across the nation are facing massive budget deficits. The way out of large deficits may seem daunting, but the economic success of one Arkansas school district offers a guiding example for many others. The Batesville School District switched to solar power in 2017 using bond financing and, as a result, it has since climbed out of its $250,000 budget deficit. Beyond recouping losses, the district has accumulated $1.8 million in budget surplus from energy savings—a surplus which goes towards raising underpaid teachers' salaries.

The next thing in green investing is a new kind of debt designed to help fund the trillions of dollars needed to wean the world from carbon. Transition bonds are being developed for fossil-fuel companies and other heavy corporate emitters, which have largely been shut out of a booming green market. So-called brown industries would have to use proceeds from the sales to fund their clean-energy transformation.

The Philadelphia Energy Authority, Enhanced Capital and EB Realty Management ("EBRM"), owners of The Met, announced today the financial close of the first project in Pennsylvania to retroactively use Commercial Property-Assessed Clean Energy (C-PACE) financing. EBRM is borrowing $6 million in C-PACE financing from Enhanced Capital to retroactively pay for energy efficiency upgrades for the former Philadelphia Metropolitan Opera House, renovated in 2018.

The Summit County Treasurer's Office has sold all of the county's holdings on fossil fuel stocks in its investment portfolio, according to a news release. The divestment from fossil fuels is part of the county's effort to use an environmental, social, and governance investment policy. In addition to divesting from fossil fuel stocks, the Treasurer's Office is offering the Colorado Commercial Property Assessed Clean Energy Program.

When it comes to renewable energy, Tri-Valley residents and business owners can find certain incentives for going green. East Bay Community Energy (EBCE) now offers commercial and industrial customers a new program to connect with a vetted, experienced solar industry professional partner. Other financial incentive programs include the State of California's Self-Generation Incentive Program and the property assessed clean energy (PACE) model, found through the Department of Energy Efficiency and Renewable Energy.

Fundamentals of Economic Development Finance WebCourse
January 27-28, 2021 - Daily: 12:00 - 5:00 PM Eastern

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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