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Contractor Financing Workshop. Sponsors:. Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA. Introduction to Financing Workshop. Project of Energy Upgrade California

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Presentation Transcript
slide1

Contractor Financing Workshop

Sponsors:

Build It Green

EGIA

Mendocino College

Savings Bank Of Mendocino

Umpqua Bank

North Coast Builders Exchange

USDA

slide2

Introduction to Financing Workshop

  • Project of Energy Upgrade California
  • Renewable Energy Development Institute serving Lake and Mendocino Counties
  • Ecology Action statewide program administration
  • Sponsors for the workshop include
    • Mendocino College
    • Build It Green
    • Electric Gas Industries Association
    • North Coast Builders Exchange
    • Savings Bank of Mendocino
    • Umpqua Bank
    • USDA
    • CHF
energy upgrade california overview
Energy Upgrade California Overview
  • Partnership between the California Energy Commission and Public Utilities Commissions
  • Collaboration with the local city and county governments, investor-owned utilities and municipally-owned utilities
  • Vision: Create a sustained home performance industry and transform the market for energy efficiency existing home retrofits
paths to participation
Paths to Participation

Basic Energy Upgrade

$1,000 Rebate

AdvancedEnergy Upgrade $1,250 to $4,000 Rebate

basic energy upgrade approach
Basic Energy Upgrade Approach
  • Basic Energy Upgrade Assessment
  • Packaged set of basic measures
    • Whole house air sealing to BPI Standards
    • Attic insulation upgrade to R-38 or greater
    • Duct testing and sealing to BPI Standards
    • Combustion safety (CO monitor and BPI Building Analyst testing)
    • Hot water pipe insulation
    • Thermostatic Shower Shut-off Valve
  • Project completed by a participating Energy Upgrade Contractor
advanced energy upgrade approach
Advanced Energy Upgrade Approach
  • Comprehensive diagnostic assessment
  • Contractor-developed home energy upgrade solution package – customized work scope
  • Energy savings verified through test-in/test-out energy modeling – HERS II procedures
  • Certified Contractors managing project
slide8

Energy Financing Basics

  • Utility energy bill is a form of financing and is what ratepayers are used to
  • Customer’s common complaint is “I can’t afford energy efficiency or solar”
  • Contractor’s common comment is “My customers don’t need financing”
  • Offer energy efficiency and renewables with financing for higher sales volume
  • Financing Toolbox – no one perfect loan for everyone
  • Secured financing offers longest terms and lowest interest rates
  • Unsecured financing offers no lien on property with reasonable rates and terms
  • Subsidized financing can offer very low rates and enhanced credit approvals
  • Loans are tailored for residential, commercial and institutional sectors
  • Cash rebates and tax incentives can reduce initial costs
slide9

Residential Financing

  • Conventional Mortgage – fixed and variable rate with 15 to 30 year terms
    • Issues with real property values and credit tightening
    • Lowest rates in a generation
  • Energy Efficiency Mortgage
  • Home Equity Line of Credit – variable rate and term
  • Unsecured Energy Loan – EGIA
  • CHF Energy Retrofit Loan
  • CDBG Rehabilitation Loan
    • Unincorporated Mendocino – CDC / Fort Bragg – City of Fort Bragg
slide10

Subsidized Financing

  • CHF Home Energy Retrofit – Lake County 0% / Mendocino 3%
  • CDBG Home Rehab Loan – Fort Bragg / Unincorporated Mendocino
  • Energy Savings Performance Contracting and Power Purchase Agreements
  • Operating Lease – Solar primarily with Lessor using tax credits
  • PG&E On-bill 0% commercial financing – gas rate tariff
  • SAFEBIDCO – Small business and non-profits
  • California Energy Commission – Ag / Non-Profits / Schools & Hospitals
  • Property Assessed Clean Energy (PACE) Loans
  • ABx1 14 Energy Upgrade Financing – loan guaranty
  • SBA CDC / 504 and 7(a) for business financing
  • Economic Development and Financing Corporation - RLF
slide11

REDI Contact Info

Keith Rutledge – REDI Programs Director

KRutledge@redinet.org

707-459-1256 office

707-485-2613 cell

Terry Phenicie – REDI Programs Manager

TPhenicie@redinet.org

707-459-1256 office

704-621-2824 cell

slide12

Institutional Financing

  • Public Finance – Bond measures
  • USDA Community Facilities
  • Energy Savings Performance Contracting and Power Purchase Agreements
  • Operating Lease – Solar primarily with Lessor using tax credits
  • PG&E On-bill 0% commercial financing – gas rate tariff
  • SAFEBIDCO – Agencies and non-profits
  • California Energy Commission – Non-Profits / Schools & Hospitals