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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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Legislation and energy policy federal and state incentives and mandates

Legislation and Energy Policy:

Federal and State Incentives and Mandates


Legislation and energy policy federal and state incentives and mandates

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


Legislation and energy policy federal and state incentives and mandates

www.rer.org

The Real Estate Roundtable


Legislation and energy policy federal and state incentives and mandates




Legislation and energy policy federal and state incentives and mandates

  • NJEDA Programs

    • Clean Tech/Energy

    • HUB; BEIP; BRAG; ERG; Green Growth Fund; Edison Innovation Fund


Legislation and energy policy federal and state incentives and mandates

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



Legislation and energy policy federal and state incentives and mandates

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.


Legislation and energy policy federal and state incentives and mandates

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


    Legislation and energy policy federal and state incentives and mandates

    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.


    Legislation and energy policy federal and state incentives and mandates

    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.


    Legislation and energy policy federal and state incentives and mandates

    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.


    Legislation and energy policy federal and state incentives and mandates

    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).


    Legislation and energy policy federal and state incentives and mandates

    Expansion/Relocation Incentives

    Redevelopment Assistance


    Legislation and energy policy federal and state incentives and mandates

    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


    Legislation and energy policy federal and state incentives and mandates

    Michael A. Wiley

    Sr. Venture Officer – Technology & Life Sciences Division

    New Jersey Economic Development Authority

    mwiley@njeda.com

    Business Action Center: (866) 534-7789

    www.njeda.com

    www.NewJerseyBusiness.gov


    Legislation and energy policy federal and state incentives and mandates

    • 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