Power & Utilities
On February 27th, the Conference of Mayors released survey findings summarizing how cities across the nation spent $2.7b in funding disbursed through the Energy Efficiency and Conservation Block Grant Program (EECBG). This program, authorized under the American Recovery and Reinvestment Act (ARRA) was designed to provide state and local governments federal support to carry out…...
The FY 2015 budget plan proposes $27.9B in DOE funding, reiterating President Obama’s commitment to a low-carbon future and energy infrastructure resilience. President Barack Obama’s FY 2015 budget plan released on March 4, 2014 allocates $27.9B for the Department of Energy (DOE), a 2.6 percent increase from the 2014 enacted level. It reflects DOE reorganization…...
The House has approved the 2014 Energy Efficiency and Improvement Act intended to boost energy efficiency of commercial buildings. On March 5, 2014, the U.S. House of Representatives approved the Energy Efficiency Improvement Act of 2014 (H.R. 2126), a bipartisan bill aimed to boost energy efficiency in leased commercial spaces and federal buildings. The bill,…...
DOE’s new energy efficiency standards will make commercial refrigeration equipment 30 percent more efficient. On February 28, 2014, the Department of Energy (DOE) finalized new energy efficiency standards for commercial refrigeration equipment used in the food retail and foodservice industry. The new standards update 2009 standards and will make the average commercial refrigeration unit approximately…...
Alternative power producers continue to turn to the YieldCo model to find lower costs of capital and residual value. Investors benefit from low risk exposure to renewable energy development, high yield and more favorable tax rates, however, risks do exist. Since January 1, 2014, two new YieldCos have been announced, SunEdison and Hannon Armstrong Sustainable…...
NYPA has launched Energy Master Plans for five cities and is soliciting public input to develop and coordinate individual city plans. On February 27, 2014, the New York Power Authority (NYPA) announced Energy Master Plans for the cities of Albany, Buffalo, Rochester, Syracuse, and Yonkers to reduce energy costs and consumption, advance sustainability, strengthen energy…...
To date, the 2009 Advanced Research Projects Agency-Energy has invested $900M for innovative projects leveraging $625M in private funding. On February 25, 2014, the Department of Energy’s (DOE) Advanced Research Projects Agency – Energy (ARPA-E) announced that it has advanced 22 innovative projects over the past five years, leveraging approximately $625M private funding following its…...
Hawaii Senate Bill 2933 mirrors energy storage sector growth interest and introduces investment and utilization tax credits. Senate Bill 2933 introduces two tax credit forms on utility scale renewable energy storage properties with the requirement that all departments of business, economic, and tourism are to submit an annual joint report to legislature. Investment credit will…...
Con Edison’s new multi-year rate plan keeps electric, gas, and steam delivery charges unchanged for 2 to 3 years and includes $1B for climate resiliency measures. Consolidated Edison Company’s (Con Edison) new multi-year, rate-stabilizing agreement approved by the New York State Public Service Commission (PSC) on February 20, 2014 will keep its base electric rates…...
Joule Assets and Kilowatt Financial have both unveiled $100 million funds for energy efficiency projects. Kilowatt specializes in project financing in solar and efficiency sectors and closed a credit facilitation with Citi on January 21. Kilowatt’s fund is segmented towards homeowners from 10 to 12 years up to $30,000. This recent development is leading to…...
The NY Green Bank has issued a request for proposal to private sector lenders to facilitate financing for clean energy projects. On February 11, 2014, NY State Governor Andrew M. Cuomo announced the start of NY Green Bank’s business operations through a request for proposal (RFP) to industry participants, private-sector capital providers, and investors for…...
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…...