The 2015 ACEEE Energy Efficiency Finance Forum was held May 31 – June 2, 2015 at the San Francisco Marriott Marquis, San Francisco, California.
The ACEEE Energy Efficiency Finance Forum is the premier conference dedicated to catalyzing investment in, and scaling the market for, energy efficiency. Since 2007, attendees have enjoyed significant value in meeting and mingling with thought leaders and game-changing innovators from the industry at this important networking opportunity. Each year, the conference features more than 20 sessions covering cutting-edge developments in this dynamic and fast-growing space, and provides a foundation for tracking progress as energy efficiency and related socially responsible investments progress toward the mainstream.
The Energy Efficiency Finance Forum is an intimate venue for learning, meeting new partners, forming innovative collaborations and initiatives, and sourcing deals.
Participants Include: Clean-tech and energy efficiency investors; financiers; bankers, real estate professionals; CDFIs and other mission-driven lenders; entrepreneurs; utility staff; local, state, and federal agency personnel; energy service company personnel; policymakers; NGOs; energy efficiency program planners, operators, and evaluators; and marketing experts.
Sunday, May 31
Workshop Coordinator: Pat McGuckin, Cadmus
This workshop will guide participants through the key decisions in creating an energy efficiency financing program, with pros and cons from a variety of stakeholder perspectives. Participants will learn about the six key program components – from target markets to credit enhancement – and the seven most common program models – from third-party private lending to PACE and on-bill repayment. Participants will put the information to use in an interactive session to design a finance program based on their organization’s specific needs or on a typical real-world scenario.
Monday, June 1
Welcome and Plenary Session
Co-Chair Welcome: Sheridan Pauker, Wilson, Sonsini, Goodrich & Rosati; Bruce Schlein , Citi; Introductions: Casey Bell, American Council for an Energy-Efficient Economy; Keynote: Steve McBee, NRG Home
Envisioning a Mature Market
Moderator: Bruce Schlein, Citi; Speakers: Bill Campbell, Equilibrium Capital; Bert Hunter , Connecticut Green Bank; Cisco DeVries , Renewable Funding
The market potential for EE investment is large, and it's being approached in a variety of ways. In recent years we've focused on finding solutions to deploy at scale and serve hard-to-reach markets. What does a mature market look like?
1A Ballroom Building Volume: Recent Breakthroughs on the Path to Scale
Unlocking more of the estimated $1 trillion market opportunity in energy savings is a monumental endeavor by any measure. In this panel, we will examine some recent breakthroughs and the factors that contributed to their success. We will also share lessons learned and discuss how the growth of third-party financing, advances in software and big data tools, and other key market trends may help more stakeholders “get to yes” and increase project volume and origination in the future.
1B The Great Debate: Financing, Rebates, and the Future of Efficiency
Moderator: Philippe Dunsky, Dunsky Energy Consulting
Speakers: Jeff Perlman, Bright Power; Bob Hinkle, Metrus Energy;Tom Eckman, Northwest Power and Conservation Council
Financing and rebates are both tools to achieve long-term energy efficiency goals, but how do they compare? Panelists will debate the real costs and benefits of innovative financing programs, the extent to which they should substitute – or complement – traditional incentive-based programs, and good stewardship of ratepayer dollars. The panel will also explore disruptive forces in the delivery of energy services that could change the debate in the future.
2A Financing through Contractor Networks
This session will start with an overview of leveraging contractors to market energy efficiency finance programs, segments of contractor firms to know, and why they are a magic key to opening the customer door for financing. Next, it will explore pathways to engaging contractors as a facilitation channel for energy efficiency finance initiatives and the contractor channel from multiple perspectives. Attendees will learn how to ensure success with contractors and what that means for the financial value of investments.
2B Big Deals: Recent Developments in Securitization
It has been an eventful year for building energy efficiency as an asset. Here we will discuss lessons learned from recent deals.
2C Focus on California: Experimentation and Progress in the Golden State
Moderator: Jeanne Clinton, California Public Utilities Commission; Speakers: Frank Spasaro, Southern California Gas; Deana Carillo, CAEATFA; David Cohen, Center for Sustainable Energy; Paul Blagbrough, Union Bank
From on-bill repayment pilots to PACE securitizations and the potential establishment of a green bank, California is experimenting and learning quite a lot. This panel will provide an in-depth look at the evolution of the on-bill pilots, and look to the future of energy efficiency finance throughout the state.
2D Corporate Social Responsibility and Beyond: Energy Efficiency as an Investment
This session will take a close look at how corporate sustainability decision-makers are looking at energy efficiency as an asset within their real estate portfolios.
Plenary The Policy Landscape: Impact on Energy Efficiency Finance and Role as a Demand Driver
Moderator: Sheridan Pauker, Wilson, Sonsini, Goodrich & Rosati; Speakers: Sara Hayes, American Council for an Energy-Efficient Economy; Abhilasha Wadhwa, California Energy Commission; Holmes Hummel, Clean Energy Works
This is a "critical moment" for energy efficiency finance, and policy at the federal, state and local level has an important role to play. Hear the latest developments from key industry experts.
Tuesday, June 2
Plenary Risk, Confidence, and Decision-Making: A Real Estate Perspective
Real estate owners pursue investment decision processes based on internal priorities, market realities, and expected results. Successful energy efficiency finance programs must understand and interact with these processes in order to capture demand. In this session, major real estate owner representatives discuss their perspectives on decision-making processes for choosing energy efficiency projects and financing options.
3A Multifamily Finance: New Opportunities and Lessons Learned
Moderator: Lauren Ross, American Council for an Energy-Efficient Economy; Speakers: Karyn Sper, Fannie Mae; Fred Lee, New York City Energy Efficiency Corporation; Barun Singh, WegoWise; Matt Schwartz, California Housing Partnership Corporation
This session focuses on opportunities for energy efficiency finance in the multifamily sector. The session will start with a discussion of recent federal efforts to increase transparency of energy consumption in multifamily buildings and the implications for loan performance. Panelists will also discuss successful efforts among utilities and the housing community to overcome traditional barriers to multifamily energy efficiency finance. Attendees will learn about innovative financing strategies and products that are designed to meet the unique needs of multifamily building owners and developers.
3B Co-selling Energy Efficiency and Solar
Moderator: Emily Martin Fadrhonc, Lawrence Berkeley National Lab; Speakers: Claire Tramm, Effortless Energy and Chicago Infrastructure Trust; Juan Pablo Alban, Enerdigm Capital Management; Kerry O’Neill, Connecticut Green Bank
Between 2008 and 2013, rooftop solar grew an average of more than 50 percent per year in the U.S. Energy efficiency providers can look to the meteoric growth in solar to understand what strategies they can use to accelerate adoption. This panel will explore the challenges of applying these approaches and co-selling energy efficiency with solar: what works, what doesn’t, and what are the limits to applying solar strategies to energy efficiency? The panel also will consider the role of financing options and tax supports for solar versus energy efficiency, as well as consumer motivations for investing in solar, energy efficiency, or both.
3C Residential PACE: Market Update and Regulatory Considerations
Residential PACE is proving enormously successful in California and is now operating in six states across the country. What have been the keys to success and lessons learned? What will it take to replicate this success nationwide?
3D Making It Count: Showcasing Financing’s Value in Maturing Utility Portfolios
As energy efficiency financing programs continue to grow, utilities and other program administrators are increasingly treating financing as a mature and integral portfolio strategy. Large-scale efforts in some jurisdictions have led program administrators try to quantify the benefits of financing approaches from both a planning and evaluation perspective. These efforts have raised a number of important questions. For example, how can program administrators project the amount of additional savings that financing programs may help program administrators obtain? How can evaluation be used to track progress over the short and long term, informing program design and potentially tying into performance incentives? How can regulators determine the influence of financing on a portfolio’s overall cost-effectiveness, and how can programs assess the impact of financing within broader efforts to effect large-scale market transformation?
Keynote Address The Honorable John Chiang, California State Treasurer
4A Financing Resiliency Initiatives and the Distributed Grid
Moderator: Jim Barrett, American Council for an Energy-Efficient Economy; Speakers: Genevieve Sherman, Connecticut Green Bank; Sy Kim, NRG
We are witnessing a growing trend toward resiliency investment. This panel will provide a background on new technology and discuss how energy efficiency is being incorporated into deals.
4B Optimizing Green Bank Potential
Moderator: Jeff Schub, Coalition for Green Capital; Speakers: Teveia Barnes, California Infrastructure and Development Bank; Cyd Miyashiro, Hawaii Green Infrastructure Authority
Many states are establishing green banks to leverage private sector dollars for clean energy investment. This panel features some of the banks that are currently in development, and explores their role in deploying energy efficiency at scale.
4C New Business Models for Financing Energy Efficiency
Moderator: Matthew McNerney, American Council for an Energy Efficient Economy; Speakers: Alex Hill, Dunsky Energy Consulting; Peter Adamczyk, Vermont Energy Investment Corporation/Commons Energy; David Berliner, CoPower
As increasing sources of capital are being deployed in energy efficiency projects and investments around the country, new business models are being developed to address harder to reach sections of the economy, and to implement deeper energy efficiency savings. This session will share insights from the energy efficiency financing frontier on what is changing in the space and how innovative business models are reaching higher to save.
4D Segmenting the Small Commercial Market
The small commercial market is can be complicated to navigate. It features a variety of building types and ownership models. This panel will feature companies that have been successful in segmenting and delivering services to this space.
5A Perspectives on Marketing Energy Efficiency Finance
Moderator: Vanessa Richter, Conservation Services Group: Speakers: Brad Kates, Opinion Dynamics; Harry Charalambides, Willdan Group (contact Harry at email@example.com to receive a copy of his presentation); Jamie Chesler, Pacific Gas & Electric
A key to tapping this critical moment for energy efficiency finance is driving demand. Hear about recent efforts to market energy efficiency finance.
5B Developing Effective Products for Low to Moderate Income
Moderator: Lori Bamberger, Saving Neighborhood Energy; Speakers: Martha Jane Murray, Clinton Climate Initiative; Avni Jamdar, Emerald Cities; Rebecca Schaaf, Stewards for Affordable Housing for the Future
This session will focus on efforts to achieve equity in the delivery of energy services for low- to moderate-income customers. It will also highlight opportunities for energy efficiency to improve the financial health of this market segment.
5C Financing Program Data Practices
This panel will review existing practices for energy efficiency financing program data collection, with an eye towards how these practices can help program administrators and policy makers improve program design and lenders and investors more accurately account for risk, increase lending, and ultimately lower financing costs. The panel will be followed by a full-room interactive discussion on identifying the most critical common data fields to be collected across programs, and issues in defining them.
5D Examining the Financial Value of Credit Enhancement
This session will explore how recent developments in insurance and credit enhancement will facilitate easier and cheaper assessment of financial risk and thereby increase the volume of financing of energy efficiency.
This year, we are collaborating with the Council of Development Finance Agencies (CDFA) to host the CDFA Deal Room. This innovative venue will serve as an opportunity to connect energy efficiency-related projects in need of capital with private sector investors to discuss financing and funding possibilities.
We are pleased to announce the following projects are seeking capital have been accepted to present in the CDFA Deal Room. Click here for more detailed descriptions.
TreeHouse Brokerage & Development
Seeking: $4.5 million in funds to achieve a zero energy community at Sustainability Park (S*PARK) in Denver, Colorado
New World Connection
Seeking: Funding to purchase solar panels and electronics, install, and test charging stations in the amount of $20,000-$100,000. Funders are potentially eligible for 30% Federal Renewable Energy Tax Credit.
Seeking: Equity/Project Finance for $55M Multifamily Housing Project
Green Cooling Tower Solutions (GCTS)
Seeking: Project Finance, $5-50 million
California Alternative Energy and Advanced Transportation Authority (CAEATFA) / California Hub for Energy Efficiency Financing (CHEEF)
Seeking: The California Hub for Energy Efficiency Financing is providing over $30 million in credit enhancements to leverage private capital for energy efficiency retrofits in both the residential and commercial sectors. CAEATFA is seeking lending partners to participate in these innovative pilots that will be launched in 2015.
Seeking: A $5 million investment for the creation of an independent residential energy efficiency lending product in major markets in California, Texas, Florida, and Arizona to offer competitive rates to borrowers, reflecting an interest rate premium to the borrower which factors the lower risk profile of an energy efficient home loan. We'll sell these products for the lending entity, and are open to brand licensing for a 3.75% interest in the new entity.
New York City Energy Efficiency Corporation (NYCEEC)
Seeking: $25 million secured credit facility
Baltimore Microgrid Project
Vermont Energy Investment Corporation (VEIC)
Seeking: $100,000 in seed capital
Chicago Infrastructure Trust: Municipal Lighting and Building Efficiency