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CDFA Energy Finance Update - August 3, 2021

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CDFA Energy Finance Newsletter
August 3, 2021
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Energy Finance Update


What the Infrastructure Deal Means for Energy
The $550 billion infrastructure package that moved through Congress last week stops short of President Biden's climate ambitions but could still have broad ramifications for the country's energy sector. From new funds for transmission critical to renewables, the measure could influence what type of power comes online and where — and shape politics heading into the 2022 midterm elections.

DOE Awards $127M to Bring Innovative Clean Energy Technologies to Market
The U.S. Department of Energy continues to power the clean energy revolution among American small businesses and entrepreneurs with awards totaling $127 million to support 110 innovative projects – each focused on tackling the climate crisis by harnessing market-oriented solutions and emerging technologies.

Virginia Finally Has Its First C-PACE Success Story, a Decade After Initial Law
After more than a decade of false starts and fine-tuning, advocates hope an Arlington restaurant's solar financing will represent an opening of the floodgates for Commercial Property Assessed Clean Energy (C-PACE) in the state. It's fitting that Arlington landed the initial project as it also led Virginia in passing a local C-PACE ordinance. The program got off the ground in 2018 under the Arlington Initiative to Rethink Energy.

Green Bonds Offer an Opportunity for Muni Expansion, Climate Bonds Initiative Says
Between 2016 and 2020, green, social, and sustainability bond issuance grew by an average of 72% a year in the United States, according to a report issued by the Climate Bonds Initiative. Green municipal bonds issued by local government authorities and state-backed government entities made up 23% of the total volume of annual issuance in the U.S.

Connecticut Green Bank Celebrates Tenth Anniversary
The Connecticut Green Bank is marking ten years of its model successfully enabling progress towards its goal of confronting climate change by mobilizing private investment into the state's green economy. Over the last decade, the Green Bank and its partners have deployed nearly $2.3 billion in capital for clean energy projects across the state.

World Leaders Commit to Financing the Future's Energy Needs, But More is Needed
Against the backdrop of one of the most devastating global crisis in a century, it was fitting that the theme of the G7 summit last month was to ensure we "Build Back Better," enabling leaders to touch upon two subjects that are of grave concern: the Covid-19 pandemic and climate change.

Loan Helps Rhode Island Hardware Store Cut Costs, Help Environment with Solar Array
A rooftop solar panel array that will soon be operational at McQuade's Ace Hardware is expected to save more than $1 million in electricity costs over 20 years. The store's owners say the power project, combined with a renovation of the facility, is ushering in a new era for the family-owned business. Good timing, relationships between local business owners, and a too-good-to-turn-down loan from the Rhode Infrastructure Bank all came together to make the project possible.

Senior Living Community in Holland Township, MI Supported by PACE Program
The first PACE project in Ottawa County, Quincy Place Senior Living, will break ground in the coming weeks. Through the program, the project was able to secure $8.5 million in financing for energy-efficient equipment and materials, which are expected to bring in more than $17 million in net savings over the next 25 years.

Upcoming Events
CDFA Federal Financing Webinar Series: Investing in Critical Community Facilities

Intro Tax Credit Finance WebCourse
September 29-30, 2021 - Daily: 12:00 - 5:00 PM Eastern
The Intro Tax Credit Finance WebCourse examines the application of tax credit programs in greater economic development finance efforts. This course discusses the practical application of tax credit programs including brownfields, new markets, low-income housing, historic preservation, and state-specific programs.

CDFA-Bricker PACE Webinar Series: Best Practices for Marketing & Selling PACE Across All Market Sectors
Tuesday, September 29, 2021 - 2:00 PM - 4:00 PM Eastern
Now that the PACE marketplace has been "built", how does it become mainstream so that all property owners know about PACE? This workshop will explore proven methods for marketing and selling PACE to contractors, economic development agencies, commercial real estate professionals, and ultimately the property owner.

Energy Finance News

Met Museum Among Art Institutions to Get $1.5M Green Funding
The Real Deal | Jul. 31 | Access to Capital | Energy Finance | Historic Preservation | Resiliency

Key Provisions for Land Revitalization in the Senate's Bipartisan Infrastructure Plan
The State | Jul. 30 | Brownfield Financing | Community Development | Economic Development | Energy Finance | Federal | Infrastructure Finance | Redevelopment

Work Progresses on Ohio Theatre Renovation in Lima
LimaOhio.com | Jul. 30 | Access to Capital | Energy Finance | Historic Preservation | Property Assessed Clean Energy (PACE) | Case Studies

DOE Announces $60M Funding for University-Based Industrial Assessment Centers
National Law Review | Jul. 29 | Community Development | Education | Energy Finance | Green Finance | Resiliency

New Energy Map of Commercial Buildings Could Help Pittsburgh, PA Reach Sustainability Goals
WESA | Jul. 27 | Economic Development | Energy Finance | Property Assessed Clean Energy (PACE) | Resiliency

$1.5M in Funding Confirmed for Three Wyoming Hydrogen Projects
Casper Star Tribune | Jul. 26 | Energy Finance | Infrastructure Finance

Water Pressure: As Florida's Usage Surges, Recycling Gets a Second Look
The Bond Buyer | Jul. 22 | Bond Finance | Water Finance

Franklinville, NY Gets $6M USDA Grant for Wastewater Treatment Project
Olean Times Herald | Jul. 22 | Federal | U.S. Dept. of Agriculture (USDA) | Water Finance

Consumers Energy Celebrates New Solar Power Plant in Cadillac, MI
PR Newswire | Jul. 19 | Brownfield Financing | Energy Finance | Redevelopment

Bitcoin is Already Incentivizing Renewable Energy
Yahoo! Finance | Jul. 14 | Energy Finance | International

PACE Loans for New York City Co-op Energy Retrofits Are Just Days Away
Habitat Magazine | Jul. 14 | Energy Finance | Housing Finance | Property Assessed Clean Energy (PACE)

Development Projects in Henrico County, VA Receive Loans for Affordable, Special Needs Housing
Henrico Citizen | Jul. 9 | Access to Capital | Energy Finance | Housing Finance | Revolving Loan Funds (RLFs) | Social Finance

D.C. Area Credit Union Joins Solar Initiative
Credit Union Times | Jul. 9 | Energy Finance | Property Assessed Clean Energy (PACE)

C-PACE Bill Signed for Energy Upgrades in Monroe County, NY
Rochester First | Jul. 7 | Energy Finance | Property Assessed Clean Energy (PACE)

Why a Cooperative Model for Clean Energy Financing Couldn't Miss
Green Money Journal | Jul. 5 | Access to Capital | Energy Finance | Green Finance | Resiliency

Highlights from the Online Resource Database

CDFA-Bricker PACE Webinar Series: Advancing Multi-Family Housing & Renewable Energy Goals with PACE
Energy Finance | Housing Finance | Webcasts
Certain property and project types have not taken full advantage of PACE, however, during this workshop, we explored what is being done to advance the goals in these market areas.

The Case for the Clean Energy and Sustainability Accelerator
Energy Finance | Green Finance | Infrastructure Finance | Legislative | State Finance Program | Webcasts
These are the slides from the Coalition for Green Capital's virtual presentation, "The Case for the Clean Energy and Sustainability Accelerator".

Seeding Climate Resilience Through Equitable Investment
Access to Capital | Economic Development | Energy Finance | Green Finance | Housing Finance | Social Finance
In this publication, the Center for Community Investment uses six case studies of successful climate resilience investments to surface a set of common strategies that take aim at the systems underlying the inequitable distribution of risk. Together, these case studies point to the urgency of acting quickly, strategically, and creatively to design and finance equitable climate resilience before disaster strikes—again.

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

  • Alliant Insurance Services, Inc.
  • BNY Mellon
  • Bricker Graydon LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • The Bond Buyer
  • U.S. Bank
  • Wells Fargo Securities
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