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Energy Finance Resource Center

Energy finance is one of the fastest growing areas of development finance nationwide. The steep upfront costs are a barrier to implementing energy-efficient and clean energy projects. These projects are more accessible with incentivizing financing tools. A variety of financing tools exist to encourage energy efficiency and alternative clean energy generation projects on every scale, from residential, commercial, and industrial properties to entire communities.


Energy finance has become a driving force in the economic development efforts of communities. Grants, loan guarantees, revolving loan funds, and tax credits are some of the major development tools of the energy finance sector. Property Assessed Clean Energy (PACE) is another popular, innovative tool for commercial, industrial, and residential energy projects. On-bill financing and green bonds are other emerging financing tools for renewable energy financing. The U.S. Department of Energy (DOE), the U.S. Environmental Protection Agency (EPA), and the U.S. Department of Agriculture (USDA) also play active roles in financing energy development. The development finance tools for funding energy projects can improve energy efficiency, provide alternative clean energy generation, or assist with large scale energy distribution.


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-Understanding Energy Finance

Financing clean energy is a fast-growing field, and successfully financing energy can catalyze the economic development efforts of communities nationwide. This section contains resources on understanding the basics of energy financing.

Financing Low-Carbon Buildings and Energy Efficiency in the Green Bond MarketMembers only Login
There are substantial opportunities to leverage green bonds to finance low-carbon buildings and energy efficiency in the country. Issuance across the world shows that capital markets can be accessed to finance energy efficiency and buildings. Financing climate adaptation and resilience also presents opportunities.
Solar Lending Practices by Community and Regional Financial Institutions Members only Login
Current projections of solar photovoltaic (PV) system costs and deployment in the United States indicate substantial capital requirements over the next 30 years and beyond. Concurrently, community and regional financial institutions (CRFIs), including community banks and credit unions, collectively hold $3.6 trillion in assets. These institutions could provide a significant portion of the required PV capital while creating a large investment opportunity for themselves. Looking ahead, access to additional credit and market information is critical for accelerating the role of CRFIs and other financial institutions in supporting U.S. PV growth.
Energy Investment Partnerships: What Is It & How to Get Started
CDFA and the U.S. Department of Energy have partnered to produce the Energy Investment Partnerships Webinar Series and a set of four Fact Sheets. Each Fact Sheet will summarize the best practices covered in the corresponding webinar and provides quick and easy access to the best practices and information available in the webinar.
Green Revolving Funds: A Guide to Implementation & ManagementMembers only Login
This guide from ICF International for the Sustainable Endowments Institute provides a comprehensive overview of green revolving funds including anatomy of a revolving fund, steps to a successful fund, common obstacles to implementation and more.
Solar Energy Investment Tax CreditsMembers only Login
This fact sheet from the Office of the Comptroller of the Currency provides a details on the Investment Tax Credit (ITC) program as it relates to solar energy. The sheet overviews the program and discusses how the tax credits can benefit banks.

-Resources

View all Energy Finance Resources

-Property Assessed Clean Energy (PACE)

Looking for the PACE Resource Center? Click Here!

CDFA-Bricker PACE Webinar Series: PACE Program Capitalization
This is the fifth webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Capitalization. Speakers included: Colin Kalvas, Associate Attorney, Bricker & Eckler LLP; Lain Gutierrez, CEO, CleanFund; Michael Linder, Loan Officer, Saint Paul Port Authority; Andrew Meyer, Senior Vice President, Petros PACE Finance; and Paul Scharfenberger, Executive Director, Colorado Clean Energy Fund.
CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE
This is the fourth webinar of the 2020 CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE. Speakers included: Jason Tiemeier, Associate, Bricker & Eckler LLP; Clifton Kellogg, Executive Director, C-PACE Alliance; Elyssa Rothe, Director of Policy and Program Development, Greenworks Lending; and Teresa Snyder PhD, Vice President Strategic Growth & Development, Ebee Management Group.
CDFA–Bricker PACE Webinar Series: Focusing on Sustainability Using PACE
This is the third webinar of the 2020 CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE. Speakers included: Brooke A. Mangiarelli with Bricker & Eckler LLP, Eric Alini with Counterpointe Real Estate Solutions, Mayor Ben Kessler of Bexley, Ohio, Steve Melink with Melink Corporation, and Maryrose Myrtetus with Philadelphia Energy Authority.
CDFA–Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program
This is the second webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program. Speakers included: Chris Jones with Bricker & Eckler LLP, Josh Campbell with Missouri Energy Initiative, Jeremy Druhot with Columbus-Franklin County Finance Authority, Colin Kalvas with Bricker & Eckler LLP, Jennifer Kuzma with Northeast Ohio Advanced Energy District, Jason Stringer with Slipstream / PACE Wisconsin, and Jason Tiemeier with Bricker & Eckler LLP.
CDFA–Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
This is the first webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing. Speakers included: Caleb Bell with Bricker & Eckler, Norma Horwitz with Northeast Ohio Public Energy Council, John Costlow with Sustainable Energy Fund, and Bali Kumar, Lean & Green Michigan, LLC .
View more PACE Resources

-Renewable Energy Investment Tax Credit (ITC)

COVID-19 Rebirth Using Proven Tools
This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and Energy Tax Credits (ITCs).
Summary of the GREEN Act Discussion DraftMembers only Login
This is a section-by-section summary of the Growing Renewable Energy and Efficiency Now ("GREEN") Act. The GREEN Act would extend the renewable energy production tax credit (PTC) and investment tax credit (ITC) until 2024. It would also extend the Section 25D, Section 179D and Section 45L energy-efficiency deductions and credits through 2024, as well as create energy credits for manufacturers.
Reducing Energy Burden for Low-income Residents in Multifamily Housing with Solar Energy Members only Login
When paired with energy efficiency measures, cost effective solar energy systems can support state and local program administrators’ goals to reduce low-income household energy burden. Energy burden is the share or percentage of annual household income that is used to pay annual home heating and cooling costs.
Solar Lending Practices by Community and Regional Financial Institutions Members only Login
Current projections of solar photovoltaic (PV) system costs and deployment in the United States indicate substantial capital requirements over the next 30 years and beyond. Concurrently, community and regional financial institutions (CRFIs), including community banks and credit unions, collectively hold $3.6 trillion in assets. These institutions could provide a significant portion of the required PV capital while creating a large investment opportunity for themselves. Looking ahead, access to additional credit and market information is critical for accelerating the role of CRFIs and other financial institutions in supporting U.S. PV growth.
Direct Federal Financial Interventions and Subsidies in Energy in Fiscal Year 2016Members only Login
This report—an update based on Fiscal Year 2016 data—continues a series of U.S. Energy Information Administration (EIA) reports on federal direct financial interventions and subsidies into energy markets. EIA assigns within-scope U.S. tax and direct expenditures to a set of discrete energy system categories.
View more Renewable Energy Investment Tax Credit (ITC) Resources

-Renewable Energy Production Tax Credit (PTC)

Summary of the GREEN Act Discussion DraftMembers only Login
This is a section-by-section summary of the Growing Renewable Energy and Efficiency Now ("GREEN") Act. The GREEN Act would extend the renewable energy production tax credit (PTC) and investment tax credit (ITC) until 2024. It would also extend the Section 25D, Section 179D and Section 45L energy-efficiency deductions and credits through 2024, as well as create energy credits for manufacturers.
Direct Federal Financial Interventions and Subsidies in Energy in Fiscal Year 2016Members only Login
This report—an update based on Fiscal Year 2016 data—continues a series of U.S. Energy Information Administration (EIA) reports on federal direct financial interventions and subsidies into energy markets. EIA assigns within-scope U.S. tax and direct expenditures to a set of discrete energy system categories.
Minnesota Clean Energy: Economic Impacts and Policy DriversMembers only Login
A new University of Minnesota study projects that the extension of the PTC and ITC programs may, in combination with other factors, create up to 5,000 jobs in the renewable energy industry in Minnesota.
Brownfields to Renewables: Redeveloping Contaminated Lands with Renewable Generation FacilitiesMembers only Login
Bjorn Jensen's 2010 Thesis for MIT focuses on using renewable energy generation to facilitate brownfield remediation, examining three successful and one unsuccessful case study to understand best practices and common hurdles.
Equity, Tax Credit & Incentive ProgramMembers only Login
Stephen Pearlman with Pearlman & Miranda, LLC shares detailed information on solar power purchase agreements including: advantages and disadvantages, risks, deal structuring, and several case studies.
View more Renewable Energy Production Tax Credit (PTC) Resources

-State Energy Tax Credits

Available CFA Resources - New York Regional Economic Development CouncilsMembers only Login
In 2011, Governor Cuomo created ten Regional Economic Development Councils (REDC) and the Consolidated Funding Application (CFA) to advance the administration’s efforts to improve New York’s business climate and expand economic growth. This 2019 document outlines information about each agency’s grant programs, including eligibility, scoring criteria, applicant requirements, and agency contact information.
Energy Investment Partnerships: Product Offerings & Market Assessment
Factsheet 2 of the Energy Investment Partnerships covers clean energy through bond markets, credit enhancements and capital markets, property assessed clean energy, and market assessment.
Measuring Success in the States
Sandy Fazeli from the National Association of State Energy Officials will present ways some states have financed and already seen success with energy programs on the state levels
Making it Count: Understanding the Value of Energy Efficiency Financing Programs Funded by Utility CustomersMembers only Login
The State and Local Energy Efficiency Action Network examines various policy and regulatory mechanisms that can be used to ensure that efficiency financing initiatives provide value for society and protection for consumers. Featuring case studies from around the United States, Making it Count explores emerging questions that jurisdictions will need to answer when considering an increased reliance on financing.
View more State Energy Tax Credits Resources

-Energy Revolving Loan Funds

Measuring Success in the States
Sandy Fazeli from the National Association of State Energy Officials will present ways some states have financed and already seen success with energy programs on the state levels
Local EIP Example of Evaluating Impact
.Duanne Andrade from Solar Energy Loan Fund talk about lessons learned and the success seen from SELF as they have adapted to meet the needs of the community.
Opportunities in Debt and Capital Financing MarketsMembers only Login
Teveia Barnes from IBank gives a brief overview of IBank's various financial programs.
Financing for Energy Efficiency and The SAVES PlatformMembers only Login
Greg Montgomery of Abundant Power provides an overview of several programs involving energy efficiency financing. This includes PACE and SC Saves.
View more Energy Revolving Loan Funds Resources

-Energy Efficiency Programs

Precedents for the National Climate Bank - Federal Financing via Independent InstitutionsMembers only Login
The National Climate Bank Act of 2019 was introduced in the U.S. Senate on July 8, and in the House on December 12, 2019. This paper discusses their lessons and precedents for the National Climate Bank, including relevant details of their formation, legal status, capitalization, governance, mission, and accomplishments.
Clean Energy For Low Income Communities ToolkitMembers only Login
The Clean Energy for Low Income Communities Accelerator (CELICA) was a voluntary partnership between the U.S. Department of Energy (DOE) and state and local governments to lower energy bills for low-income communities.
RI Clean Energy Industry Report 2018Members only Login
With aggressive targets, Rhode Island’s overall clean energy economy continues to grow. The industry’s workforce has grown by 72 percent since 2014, resulting in 6,650 new jobs across the state.
Financing the Energy Efficiency Market - Fannie MaeMembers only Login
Rita Ballesteros with Fannie Mae presents on their role in energy-related financing solutions.
View more Energy Efficiency Program Resources

-State Energy Finance Programs

NMEDD - Economic Development Innovation Task Force ReportMembers only Login
In 2019, the Governor signed House Memorial 16 directing the Economic Development Department (NMEDD) to bring together stakeholders and convene an Economic Development Innovation Task Force to spur collaboration and innovative discussions on methods to create new economic development concepts and ideas to enhance New Mexico's economy. This report is the result.
Precedents for the National Climate Bank - Federal Financing via Independent InstitutionsMembers only Login
The National Climate Bank Act of 2019 was introduced in the U.S. Senate on July 8, and in the House on December 12, 2019. This paper discusses their lessons and precedents for the National Climate Bank, including relevant details of their formation, legal status, capitalization, governance, mission, and accomplishments.
Available CFA Resources - New York Regional Economic Development CouncilsMembers only Login
In 2011, Governor Cuomo created ten Regional Economic Development Councils (REDC) and the Consolidated Funding Application (CFA) to advance the administration’s efforts to improve New York’s business climate and expand economic growth. This 2019 document outlines information about each agency’s grant programs, including eligibility, scoring criteria, applicant requirements, and agency contact information.
Regional Resilience Toolkit: 5 Steps to Build Large Scale Resilience to Natural DisasterMembers only Login
Cities, regions, and states across the country are facing natural disasters that can have devastating effects on life, property, the economy, and ecosystems. Climate change is already having observable effects on the environment, and past conditions are no longer a reliable indication of the type or extent of disasters communities will face in the future.
View more State Energy Finance Program Resources

-Programs Map

Search the map below for energy finance programs by state. This specialized search is part of CDFA's State Financing Program Directory, the only online resource cataloging the development finance programs offered by state governments. Click on a state to see a sample of state energy programs available. Login with a CDFA Member account at the top of the page to view full results.

-Case Studies

CDFA–Bricker PACE Webinar Series: Focusing on Sustainability Using PACE
This is the third webinar of the 2020 CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE. Speakers included: Brooke A. Mangiarelli with Bricker & Eckler LLP, Eric Alini with Counterpointe Real Estate Solutions, Mayor Ben Kessler of Bexley, Ohio, Steve Melink with Melink Corporation, and Maryrose Myrtetus with Philadelphia Energy Authority.
CDFA–Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program
This is the second webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program. Speakers included: Chris Jones with Bricker & Eckler LLP, Josh Campbell with Missouri Energy Initiative, Jeremy Druhot with Columbus-Franklin County Finance Authority, Colin Kalvas with Bricker & Eckler LLP, Jennifer Kuzma with Northeast Ohio Advanced Energy District, Jason Stringer with Slipstream / PACE Wisconsin, and Jason Tiemeier with Bricker & Eckler LLP.
CDFA–Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
This is the first webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing. Speakers included: Caleb Bell with Bricker & Eckler, Norma Horwitz with Northeast Ohio Public Energy Council, John Costlow with Sustainable Energy Fund, and Bali Kumar, Lean & Green Michigan, LLC .
CDFA // BNY Mellon Development Finance Webcast Series: P3s That Fuel The EconomyMembers only Login
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore how major projects are able to access private and public capital to construct extra large P3 deals in the U.S.
California Rural Infrastructure Finance Guidebook
CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help build capacity in those areas, as well as move economic development projects forward.
View more Case Studies

-Headlines

-Publications

Practitioner's Guide to Economic Development Finance
The Practitioner's Guide to Economic Development Finance 2nd Edition is the only comprehensive resource dedicated to building and utilizing the development finance toolbox. The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities. From bonds, tax increment finance and special districts to tax credits, seed & venture capital, revolving loan funds and much more, this Guide outlines the financing tools required for succeeding in today's competitive economic development climate.
Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency
Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency (Handbook) serves as a companion to the Practitioner’s Guide to help illuminate the structures of development finance agencies (DFAs), essential conduits to access development finance tools. The Handbook provides an overview of DFAs and their myriad roles in various development efforts. Included in this discussion is a comprehensive look at over a dozen high-performing DFAs throughout the country. The Handbook is designed to be a starting point for local leaders to engage in the creation or acceleration of a DFA to build and utilize the development finance toolbox.
View more Publications

-Training Courses

Intro Property Assessed Clean Energy (PACE) Finance WebCourse
April 22-23, 2020
Daily: 12:00 - 5:00 PM Eastern
Register
CDFA Virtual Summer School
August 3-13, 2020
Daily: 12:00 PM - 5:00 PM Eastern
CDFA Virtual Summer School is a two-week-long series of courses presented by the CDFA Training Institute. These courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Participants may register for up to four courses during CDFA Virtual Summer School. Complete three courses, and you will have fulfilled half of the requirements for the DFCP Program.
Register
View more Training Courses

-Webcasts

CDFA // BNY Mellon Development Finance Webcast Series: P3s That Fuel The EconomyMembers only Login
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will explore how major projects are able to access private and public capital to construct extra large P3 deals in the U.S.
CDFA // BNY Mellon Webcast Series: Picking Up the PACE State by StateMembers only Login
During this installment of the CDFA // BNY Mellon Webcast Series, Caleb Bell with Bricker & Eckler LLP and David Gabrielson with PACENation discussed the best practices in crafting PACE enabling legislation as well as case studies of some of the most effective legislation to date.
2019 CDFA Brownfields Financing Webinar Series: Brownfields to Brightfields - Redevelopment for a Brighter Future
During this webinar, our panel of experts discussed when developing a Brightfield makes sense, how to overcome obstacles to Brightfield projects, and how to catalyze investment in the area surrounding a Brightfield.
CDFA // BNY Mellon Webcast Series: The Food System - Thinking Outside of the SiloMembers only Login
During this installment of the CDFA // BNY Mellon Webcast Series, Barry Kukovich with Peoples Gas, Glenn Ford with InCity Farms and Rick Terrien with Artisan Food Networks, thought outside the silo and recognized the food system as an economic development tool by discussing innovative financing to fill the gaps of regional food systems.
CDFA // BNY Mellon Webcast Series: Bonds + Financing SustainabilityMembers only Login
Bonds are considered the bedrock tool for development finance because of their common use funding traditional projects however they also can be adaptable for new types of projects. In the current day and age sustainability has become a key focus in development finance and bonds have more frequently been used to finance this new wave of projects. During this installment of the BNY Mellon // CDFA Webcast Series Sharon Wojda from the City of Bend, Oregon, and Stephen Pearlman from Pearlman & Miranda, LLC., will look at outside the box ideas for issuing bonds to fund sustainable areas of finance including renewable energy, adaptive reuse for infrastructure and sustainable water solutions.
View more Webcasts

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