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The Sustainable Energy Program: Legislative Update November 21, 2013
Avi JacobsonSenior Sustainable Energy CoordinatorWashington State Housing Finance [email protected]@Avi_Jacobson
The Sustainable Energy Program
• Introduction
• Bond Financing
• Qualified Energy Conservation Bonds
• Sustainable Energy Trust
• Future Opportunities
• Questions
Bond Financing Tools for Energy
Efficiency & Renewable Energy• Conduit Bond Issuer
o Industrial Development Bonds
o Small manufacturing, Infrastructure
o Multifamily Housing Bonds
o Acquisition/Rehabilitation/Efficiency Improvements
o 501c3 Bonds
o YMCA Greater Seattle ($2,000,000)
o Compass Health ($500,000)
o More in Pipeline
o Qualified Energy Conservation Bonds
WSHFC as State QECB Clearinghouse• Washington State:
o $67.8M Allocated across WA
o ~$60M Issued/Committed
o $23.2M for Private Activity
o Swauk Wind 4.25MW ($9,000,000)
o Green Community Programs with King County and
Kitsap County enabled greater private investment
o WSHFC aggregation key to unleashing pent up
demand
o Recognized as best practice by DOE
o Being replicated in other states
The Sustainable Energy Trust:
Green Home Improvement Fund• Rehab Project
– Targeting at least 20% Efficiency Improvement
– Max incentive at 40% Improvement
• New Construction Project– Targeting at least 10% Efficiency Improvement over code
– Max Incentive at 20% Improvement
• Accountability: Audit in/Audit out
• Affordability Goals
• Performance-based rate setting
10 Homes Financed w/Green Canopy Homes
Funds Revolving 9-10 months
The Sustainable Energy Trust• Loan Program: Improve Access to Capital
• $2,000,000 Fund
• 20% Participation, up to $500,000
• In development/Under Consideration…
• Financing pre-development & energy audits?
• Credit Enhancement Mechanisms?
• Finance pre-payment of lease for distributed
generation?
• Pilot Programs flexible & adaptable to market needs
• Fostering Business Model Innovation
The Sustainable Energy Program: Legislative Update November 21, 2013
Avi JacobsonSenior Sustainable Energy CoordinatorWashington State Housing Finance [email protected]@Avi_Jacobson
