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Legislation and Energy Policy: Federal and State Incentives and Mandates. Energy and Sustainability Policy – From Inside the Beltway Duane Desiderio VP and Counsel The Real Estate Roundtable Washington, DC www.rer.org. NJ-PA Sustainability Symposium Rutgers-Camden March 31, 2011.

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slide1

Legislation and Energy Policy:

Federal and State Incentives and Mandates

slide2

Energy and Sustainability Policy – From Inside the BeltwayDuane DesiderioVP and CounselThe Real Estate RoundtableWashington, DCwww.rer.org

NJ-PA Sustainability Symposium Rutgers-CamdenMarch 31, 2011

energy efficiency incentives
Energy Efficiency Incentives
  • Last Congress
    • Rebates: Cash for Clunkers, Building STAR
  • New Congress
    • Tax Reform
      • Commercial Buildings Deduction, IRCode §179D
      • Improve from 2005 Energy Policy Act
        • ASHRAE Baseline; Designs vs. Performance
        • Sliding Scale; 20% - 50%, in 5% increments
        • REITS
        • “Defined Spaces”

The Real Estate Roundtable

white house better buildings initiative bbi
White HouseBetter Buildings Initiative (BBI)
  • Financial Incentives
    • 179D Tax Re-Design
    • Loan Guarantees for Building Retrofits
    • “Scoring”
    • Jobs Creation
  • Challenge to Building Owners
  • Grants to State and Local Governments

The Real Estate Roundtable

federal mandates
Federal Mandates
  • Federal Building Codes
    • For new construction and substantial rehab
    • Proposed standards not cost feasible
    • Don’t consider tenant behaviors
  • Focus instead on Energy Dept’s role in codes-setting process, not fed regs.
  • GSA Requirements

The Real Estate Roundtable

federal envt l issues
Federal Envt’l Issues
  • Stormwater
    • “Retrofits” of existing properties
    • Enhanced municipal requirements
  • Lead Paint Renovation and Repair
    • Pre-1978 target housing
    • Expand to commercial buildings
    • Impact on energy retrofits

The Real Estate Roundtable

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www.rer.org

The Real Estate Roundtable

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NJ Master Plan

    • Wind and solar and quick update
slide11

NJEDA Programs

    • Clean Tech/Energy
    • HUB; BEIP; BRAG; ERG; Green Growth Fund; Edison Innovation Fund
slide12

EDA - Who We Are

  • State financing and economic development agency dedicated to serving as New Jersey’s “bank for business” by offering:
  • Financing Assistance
  • Tax Incentives
  • Real Estate and Redevelopment Assistance
  • Access to Small Business Services
slide14

Clean Energy Manufacturing Fund (CEMF)

  • Designed to support companies looking to site a Class I renewable
  • energy or energy efficiency product manufacturing facility in New
  • Jersey.
  • New Jersey clean technology manufacturers can receive funding
  • under two separate components: project assessment and design,
  • and project construction and operation.
  • In total, up to $3.3 million in grants and interest-free loans
  • available.
  • - Up to $300,000 for predevelopment
  • - Up to $3 million as a low-interest, 10-year loan to support site
  • improvements, equipment purchases, and facility construction
  • and completion.
slide15

Petra Solar, Inc.

  • Awarded $3.3 million through CEMF to support the purchase of equipment and
  • machinery and the company’s planning/design process.
      • Project will result in total public/private investment of over $7.6 million.
      • Petra expects to create more than 164 new jobs over two years.
  • Received a $200 million contract from PSE&G to install 200,000 solar panels
  • on utility poles and street lamps following BPU approval of PSE&G’s Solar 4
  • All program.

15

slide16

Clean Energy Solutions Capital Investment

Grant/Loan

Nautilus Solar received $5 million to build the largest solar energy facility at a university in the U.S. The 3.5 MW system will save William Paterson University $4.3 million in energy costs over the next 15 years.

  • With the goal of reducing the amount of greenhouse gases produced in New
  • Jersey, the Clean Energy Solutions Capital Investment Grant/Loan Program
  • provided loans and grants to support commercial, institutional, and industrial entity
  • end-use energy efficiency projects, CHP production facilities, and new state-of-the-
  • art efficient electric generation facilities, including renewable energy applications.
slide17

Clean Energy Solutions ARRA

Combined Heat and Power (CHP) Program

NRG Thermal Energy was approved for a $1.9 million grant to establish a 4.6MW cogeneration facility that will serve the new University Medical Center of Princeton at Plainsboro.

  • In 2010, the EDA and BPU also launched the Clean Energy Solutions ARRA CHP
  • Program, a competitive solicitation that made project based grants available to
  • commercial, institutional or industrial entities (including public and not-for-profit
  • entities) in New Jersey with a CHP project. The federally allocated funding was
  • available in an amount of $450 per kW of installed electric generation.
slide18

Offshore Wind Economic Development Act

  • Offshore Renewable Energy Certificate (OREC) Program that calls for a
  • percent of electricity sold in the state to be from offshore wind energy to
  • support at least 1,100 MWs of generation from qualified offshore wind
  • projects.
    • BPU will administer credits to wind energy producers for each MW of
    • electricity generated by offshore wind farms. Producers can sell the
    • credits to offset production costs of offshore wind projects.
  • Tax credits through the EDA for businesses that construct manufacturing,
  • assemblage and water access facilities to support the development of
  • offshore wind projects.
    • Businesses may be eligible for a credit up to 100% of its capital
    • investment in a qualified wind energy facility located within the South
    • Jersey Port District.
    • The value of credits approved by the EDA may be up to $100 million.
slide19

New Green Programs

Expected to Launch May 2011

  • Edison Innovation Green Growth Fund
  • Loans of up to $1 million to Class I renewable or energy efficient clean
  • technology companies that are seeking funding to grow and support
  • their technology business. May convert to a 50 performance grant.
  • Companies must have commercial revenues.
  • Energy Efficiency Revolving Loan Fund
  • Loans of up to $2.5 million to support 100% of the eligible project costs
  • of commercial or industrial entities that received funding under BPU’s
  • Pay for Performance program or the Large Energy Users Programs,
  • which became available in 2011. The loan can be used for energy
  • efficiency whole building C&I projects (retrofit and new construction).
slide20

Expansion/Relocation Incentives

Redevelopment Assistance

slide21

Additional Sources of Financing, Capital & Assistance

  • NJ BPU – Office of Clean Energy - http://www.njcleanenergy.com/
  • NJ DEP – Office of Economic Growth & Green Energy - http://www.nj.gov/dep/egge/
  • NJ Utilities (e.g. PSE&G Solar Loan Program)
  • Banks and other Commercial Lending Partners
  • Angel Investors & Venture Capital
  • Strategic Partners
  • Foundations & Non-Profits
slide22

Michael A. Wiley

Sr. Venture Officer – Technology & Life Sciences Division

New Jersey Economic Development Authority

[email protected]

Business Action Center: (866) 534-7789

www.njeda.com

www.NewJerseyBusiness.gov

slide23

Measurement Mandates

    • NYC, DC, Seattle, San Francisco, Austin, Los Angeles, CA (state)
  • USGBC
    • What is LEED and is it Law
  • ASHRAE 189
    • What is it and how might it effect you
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