CDFA - Energy Finance Resource Center

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 Market Members only

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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

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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 & Management Members only

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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 Credits Members only

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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.

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-Property Assessed Clean Energy (PACE)

Looking for the PACE Resource Center? Click Here!

Introduction to C-PACE in New York Members only

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Energy Finance | Property Assessed Clean Energy (PACE)

Commercial Property Assessed Clean Energy (C-PACE) provides long-term, low-cost financing for energy efficiency improvements and renewable energy projects for commercial buildings. Unlike traditional financing, repayment is secured through a benefit assessment lien that is subordinate to municipal taxes, but senior to all other liens. Financing automatically transfers to a new owner if the property is sold.

Roadmap to Redevelopment Report: Troy, NY

This report provides financing strategies for the redevelopment of One Monument Square in Troy, NY.

Mortgage Lender’s Guide to C-PACE: Lender Consent

Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

To document the C-PACE financing, most programs require mortgage holders to consent to the assessment because, like other property tax assessments, the claim for delinquent C-PACE payments is typically on par with normal property taxes.

CDFA – Bricker PACE Webinars: C-PACE Program Design: How Statutes, Programs, and Markets Come Together

Development Finance Toolbox | Property Assessed Clean Energy (PACE) | Webcasts

This is the third webinar of the CDFA-Bricker PACE Webinar Series: C-PACE Program Design: How Statutes, Programs, and Markets Come Together moderated by Chris Jones from Bricker & Eckler LLP. Speakers included: Clifton Kellogg with C-PACE Alliance, Josh Smith with Petros PACE Finance, LLC, Michael Yaki with CleanFund Commercial PACE Capital, Inc.

Highlighting PACE Projects in Opportunity Zones - Rachel Davis--Chris Jones--Colin-Kalvas Members only

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Opportunity Zones | Property Assessed Clean Energy (PACE)

Rachel Davis, Chris Jones, and Colin Kalvas from Bricker & Eckler presents on Highlighting PACE Projects in Opportunity Zones in Ohio during the Ohio Roundtable.

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-Renewable Energy Investment Tax Credit (ITC)

Summary of the GREEN Act Discussion Draft Members only

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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

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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

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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 2016 Members only

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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 Drivers Members only

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Energy Finance

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.

View more Renewable Energy Investment Tax Credit (ITC) Resources

-Renewable Energy Production Tax Credit (PTC)

Summary of the GREEN Act Discussion Draft Members only

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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 2016 Members only

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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 Drivers Members only

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Energy Finance

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 Facilities Members only

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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 Program Members only

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Energy Finance | Tax Credits | Internal Revenue Service (IRS) | U.S. Dept. of Treasury

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.

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-State Energy Tax Credits

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.

Available CFA Resources - New York Regional Economic Development Councils Members only

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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

Energy Finance | Property Assessed Clean Energy (PACE) | State Finance Program | U.S. Dept. of Energy (DOE) | Office of Energy Efficiency and Renewable Energy (EERE)

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 Customers Members only

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Energy Finance | Green Finance | Local Finance Program | State Finance Program

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

Energy Finance | Property Assessed Clean Energy (PACE) | State Finance Program | U.S. Dept. of Energy (DOE) | Office of Energy Efficiency and Renewable Energy (EERE)

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 Markets Members only

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Bond Finance | Economic Development | Energy Finance | Green Finance

Teveia Barnes from IBank gives a brief overview of IBank's various financial programs.

Assessing the Appropriate Finance Tool for Energy Development Members only

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Laura Franke with Public Finance Management gives an overview of the options available for energy development.

Financing for Energy Efficiency and The SAVES Platform Members only

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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

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.

Moving America and the Environment Forward Framework

"Moving America and the Environment Forward" is a House Ways and Means Committee statement of principles on how the committee wants to approach an infrastructure bill. It includes $760 billion of proposals.

Precedents for the National Climate Bank - Federal Financing via Independent Institutions Members only

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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 Toolkit Members only

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Community Development | Energy Finance | Green Finance | U.S. Dept. of Energy (DOE)

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 2018 Members only

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Energy Finance

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.

View more Energy Efficiency Program Resources

-State Energy Finance Programs

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.

NMEDD - Economic Development Innovation Task Force Report Members only

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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 Institutions Members only

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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 Councils Members only

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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 Disaster Members only

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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

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.

CDFA // BNY Mellon Development Finance Webcast Series: P3s That Fuel The Economy Members only

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During this installment of the CDFA // BNY Mellon Development Finance Webcast, 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.

Introduction to C-PACE in New York Members only

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Commercial Property Assessed Clean Energy (C-PACE) provides long-term, low-cost financing for energy efficiency improvements and renewable energy projects for commercial buildings. Unlike traditional financing, repayment is secured through a benefit assessment lien that is subordinate to municipal taxes, but senior to all other liens. Financing automatically transfers to a new owner if the property is sold.

Idaho Economic Development Association Summer 2019 Report Members only

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This summer 2019 performance report from the Idaho Economic Development Association discusses economic development in Idaho and offers several case studies.

CDFA – Bricker PACE Webinars: PACE 101: The Basics of PACE Financing

This is the first webinar of the CDFA-Bricker PACE Webinar Series: PACE 101: The Basics of PACE Financing. Speakers included: Colin Kalvas with Bricker & Eckler, Colin Bishopp with PACENation, Dustin Reilich with Renovate America, and Andrew Zech with Greenworks Lending.

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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.

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The Intro Energy & Water Finance Course begins with an overview of the complex energy development industry and introduces attendees to the terminology and technology driving this movement. We will then examine the entire spectrum of energy financing solutions from bonds to revolving loan funds and innovative incentive programs available to businesses, home owners, development professionals, investors, and government entities.

The Intro Property Assessed Clean Energy (PACE) Finance WebCourse will explore the process of creating, operating and maintaining a community based PACE program. This two day course will feature a comprehensive overview of PACE including program design, capital markets analysis, investor attraction, legal and regulatory considerations, market potential, operations and much more.

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Weekly Development Finance COVID-19 Briefing
Every Friday, March 27 - May 29, 2020
1:00 PM Eastern

CDFA will be hosting a weekly briefing about development finance COVID-19 news and resources. These one-hour phone calls will feature legislative updates, news from our members, state and local financing strategies, and lessons learned from previous development finance responses to disasters.

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CDFA Federal Policy Conference (cancelled)
April 14-15, 2020
Washington, DC

The federal government plays a critical role in driving private and public investment in innovation, job creation, infrastructure, and community development. With the 2020 presidential election quickly approaching, development finance will be a key policy issue across the nation. The 116th Congress will also play a major role in shaping our country’s economic development policy going forward. It's up to the development finance community to focus the national discussion on smart federal policy, and CDFA is the voice of the economic development finance community on Capitol Hill. For these reasons, CDFA will host its CDFA Federal Policy Conference on April 14-15 in Washington DC.

CDFA Federal Financing Webinar Series: Federal Financing for Resilient Energy and Water
October 22, 2020
2:00 - 3:30 PM Eastern

In this webinar, learn how the Environmental Protection Agency, FEMA, and Department of Energy provide financing for disaster-resilient infrastructures such as transportation, energy, and communications systems.

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CDFA // BNY Mellon Development Finance Webcast Series: P3s That Fuel The Economy Members only

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Energy Finance | Public-Private Partnership (P3) Financing | Webcasts

During this installment of the CDFA // BNY Mellon Development Finance Webcast, 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 State Members only

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Energy Finance | Green Finance | Property Assessed Clean Energy (PACE) | Webcasts

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

Brownfield Financing | Energy Finance | Green Finance | Webcasts | U.S. Environmental Protection Agency (EPA)

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 Silo Members only

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Agriculture Finance | Economic Development | Energy Finance | Food Systems Finance | Webcasts

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 Sustainability Members only

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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.

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