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Clean Energy Finance and Investment Authority. C-PACE: A financing tool for building owners. CEFIA is Connecticut’s Green Bank!.
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Clean Energy Finance and Investment Authority C-PACE:A financing tool for building owners
CEFIA is Connecticut’s Green Bank! • Support the Governor’s and legislature’s energy strategy to achieve cleaner, cheaper and more reliable sources of energy while creating jobs and supporting local economic development
Underwriting energy financing • CEFIA designs energy financing products through which lending institutions can deploy their capital at scale. • In partnership with investors, CEFIA designs underwriting standards for various EE and RE loan products across building sectors. • Building and energy savings data are critical toward transforming energy efficiency financing a mainstream financial asset class with a high degree of standardization, predictability and scale 3
In Practice: C-PACE Program • C-PACE transactions are approved based on projected future cash flow resulting from utility bill savings • Program necessitates an energy baseline or “benchmark” to meet statutory requirements (SIR>1; M&V) • Underwriting requires a standard and consistent format for establishing a baseline. • C-PACE uses the ASTM-BEPA standard • Data most easily collected through “Green Button” • Data housed in the CEFIA Data Management Platform 4
In Practice: C-PACE Program • CDMP enables upload of utility bill data in excel format • Normalize to calendar month per ASTM BEPA methodology 5