On January 21, Kilowatt Financial announced $100 million debt facility with Citi to support residential energy efficiency upgrades. One day later, Joule Assets announced a $100 million fund to aggregate energy efficiency and demand response projects for private equity investors. Overview Although creative energy efficiency financing has existed for decades, new mechanisms are emerging to…...
The U.S. and 13 World Trade Organization members have committed to advance free trade of environmental goods to make green technologies more affordable. On January 24, 2014, the U.S. and 13 World Trade Organization (WTO) members – Australia, Canada, China, Costa Rica, the European Union, Hong Kong, Japan, Korea, New Zealand, Norway, Singapore, Switzerland, and…...
Solar carve-outs have been implemented as part of the Renewable Portfolio Standard (RPS) in 14 U.S. states and the District of Columbia, helping to support the expansion of solar energy projects throughout the nation. All of these states are on track to meet their long-term compliance goals, and all show increasing percentages of annual RPS…...
U.S. Commerce Chamber’s new energy advocacy platform proposes actionable recommendations to capitalize on the nation’s energy potential. On January 15, 2014, the U.S. Chamber of Commerce’s Institute for 21st Century Energy launched its new energy advocacy platform titled “Energy Works for US,” a comprehensive plan with recommendations for 2014 and beyond. The plan, an update…...
President Obama has ordered a comprehensive energy strategy review to ensure federal policies continue to address changing energy requirements. On January 9, 2014, President Obama signed a memorandum establishing a Quadrennial Energy Review (QER) to enhance the federal government’s capability to provide a comprehensive and integrated energy strategy to meet challenges posed by rising energy…...
Enbridge’s 110 MW Texas wind project will deliver electricity to the ERCOT market under a 20-year agreement with Microsoft Corporation. On January 6, 2014, Canada’s Enbridge Inc. announced an agreement with Renewable Energy Systems Americas Inc. (RES Americas) to construct the Keechi Wind Project, a 110 MW wind energy project in Texas, at a cost…...
On December 10, 2013, Senate Budget Committee Chairman Patty Murray (D-WA) and House Budget Committee Chairman Paul Ryan (R-WI) proposed the 2013 Bipartisan Budget Act, a two-year budget agreement that would provide $63B in sequester relief and reduce the fiscal deficit by $20B to $23B. Overview Lawmakers now have several weeks to appropriate the budget…...
With a $210M initial funding approval, NY Green Bank is poised to begin operations in early 2014. On December 19, 2013, New York State Governor Andrew M. Cuomo announced $210M initial capitalization for the $1B New York Green Bank, a market-based clean energy funding initiative launched in September. The funding includes $165M Public Service Commission…...
The Senate Finance Committee’s latest energy tax reform proposal focuses on technology-neutral and performance-based energy tax credits. On December 18, 2013, Senate Finance Committee Chairman Max Baucus (D-MT) released an energy tax reform draft that would overhaul federal energy-related tax incentives and consolidate provisions supporting renewable energy. Notably, the proposal focuses on establishing tax credits…...
DOI’s proposed Maryland 80,000 acre offshore wind lease sale aims to harness up to 1,450 MW of wind energy, enough to supply 300,000 homes. On December 17, 2013, the Department of Interior (DOI) announced a proposed notice of sale for approximately 80,000 acres of Maryland offshore area for commercial wind energy development. The proposed…...
EIA’s latest Annual Energy Outlook (AEO) projects a 56 percent increase in natural gas production by 2040, overtaking coal as the largest share of U.S. electric power generation. On December 16, 2013, the Energy Information Administration (EIA) released the AEO 2014 Early Release Overview presenting updated projections for U.S. energy markets through 2040. The AEO…...
Alternative energy project financiers are utilizing the YieldCo model to find new, cheaper sources of capital in 2013, as renewable tax credits set to expire. The YieldCo model is unlocking cash flow value from fast growing companies and providing attractive investment opportunities as money market funds, interest rates, and bond rates remain stagnant. Overview At…...