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Legislation and Energy Policy: Federal and State Incentives and Mandates

Legislation and Energy Policy: Federal and State Incentives and Mandates. Energy and Sustainability Policy – From Inside the Beltway Duane Desiderio VP and Counsel The Real Estate Roundtable Washington, DC www.rer.org. NJ-PA Sustainability Symposium Rutgers-Camden March 31, 2011.

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Legislation and Energy Policy: Federal and State Incentives and Mandates

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  1. Legislation and Energy Policy: Federal and State Incentives and Mandates

  2. Energy and Sustainability Policy – From Inside the BeltwayDuane DesiderioVP and CounselThe Real Estate RoundtableWashington, DCwww.rer.org NJ-PA Sustainability Symposium Rutgers-CamdenMarch 31, 2011

  3. Energy Efficiency Incentives • Last Congress • Rebates: Cash for Clunkers, Building STAR • New Congress • Tax Reform • Commercial Buildings Deduction, IRCode §179D • Improve from 2005 Energy Policy Act • ASHRAE Baseline; Designs vs. Performance • Sliding Scale; 20% - 50%, in 5% increments • REITS • “Defined Spaces” The Real Estate Roundtable

  4. White HouseBetter Buildings Initiative (BBI) • Financial Incentives • 179D Tax Re-Design • Loan Guarantees for Building Retrofits • “Scoring” • Jobs Creation • Challenge to Building Owners • Grants to State and Local Governments The Real Estate Roundtable

  5. Federal Mandates • Federal Building Codes • For new construction and substantial rehab • Proposed standards not cost feasible • Don’t consider tenant behaviors • Focus instead on Energy Dept’s role in codes-setting process, not fed regs. • GSA Requirements The Real Estate Roundtable

  6. Federal Envt’l Issues • Stormwater • “Retrofits” of existing properties • Enhanced municipal requirements • Lead Paint Renovation and Repair • Pre-1978 target housing • Expand to commercial buildings • Impact on energy retrofits The Real Estate Roundtable

  7. www.rer.org The Real Estate Roundtable

  8. NJ Master Plan • Wind and solar and quick update

  9. State Legislation

  10. Philadelphia Green Works

  11. NJEDA Programs • Clean Tech/Energy • HUB; BEIP; BRAG; ERG; Green Growth Fund; Edison Innovation Fund

  12. EDA - Who We Are • State financing and economic development agency dedicated to serving as New Jersey’s “bank for business” by offering: • Financing Assistance • Tax Incentives • Real Estate and Redevelopment Assistance • Access to Small Business Services

  13. EDA Resources

  14. Clean Energy Manufacturing Fund (CEMF) • Designed to support companies looking to site a Class I renewable • energy or energy efficiency product manufacturing facility in New • Jersey. • New Jersey clean technology manufacturers can receive funding • under two separate components: project assessment and design, • and project construction and operation. • In total, up to $3.3 million in grants and interest-free loans • available. • - Up to $300,000 for predevelopment • - Up to $3 million as a low-interest, 10-year loan to support site • improvements, equipment purchases, and facility construction • and completion.

  15. Petra Solar, Inc. • Awarded $3.3 million through CEMF to support the purchase of equipment and • machinery and the company’s planning/design process. • Project will result in total public/private investment of over $7.6 million. • Petra expects to create more than 164 new jobs over two years. • Received a $200 million contract from PSE&G to install 200,000 solar panels • on utility poles and street lamps following BPU approval of PSE&G’s Solar 4 • All program. 15

  16. Clean Energy Solutions Capital Investment Grant/Loan Nautilus Solar received $5 million to build the largest solar energy facility at a university in the U.S. The 3.5 MW system will save William Paterson University $4.3 million in energy costs over the next 15 years. • With the goal of reducing the amount of greenhouse gases produced in New • Jersey, the Clean Energy Solutions Capital Investment Grant/Loan Program • provided loans and grants to support commercial, institutional, and industrial entity • end-use energy efficiency projects, CHP production facilities, and new state-of-the- • art efficient electric generation facilities, including renewable energy applications.

  17. Clean Energy Solutions ARRA Combined Heat and Power (CHP) Program NRG Thermal Energy was approved for a $1.9 million grant to establish a 4.6MW cogeneration facility that will serve the new University Medical Center of Princeton at Plainsboro. • In 2010, the EDA and BPU also launched the Clean Energy Solutions ARRA CHP • Program, a competitive solicitation that made project based grants available to • commercial, institutional or industrial entities (including public and not-for-profit • entities) in New Jersey with a CHP project. The federally allocated funding was • available in an amount of $450 per kW of installed electric generation.

  18. Offshore Wind Economic Development Act • Offshore Renewable Energy Certificate (OREC) Program that calls for a • percent of electricity sold in the state to be from offshore wind energy to • support at least 1,100 MWs of generation from qualified offshore wind • projects. • BPU will administer credits to wind energy producers for each MW of • electricity generated by offshore wind farms. Producers can sell the • credits to offset production costs of offshore wind projects. • Tax credits through the EDA for businesses that construct manufacturing, • assemblage and water access facilities to support the development of • offshore wind projects. • Businesses may be eligible for a credit up to 100% of its capital • investment in a qualified wind energy facility located within the South • Jersey Port District. • The value of credits approved by the EDA may be up to $100 million.

  19. New Green Programs Expected to Launch May 2011 • Edison Innovation Green Growth Fund • Loans of up to $1 million to Class I renewable or energy efficient clean • technology companies that are seeking funding to grow and support • their technology business. May convert to a 50 performance grant. • Companies must have commercial revenues. • Energy Efficiency Revolving Loan Fund • Loans of up to $2.5 million to support 100% of the eligible project costs • of commercial or industrial entities that received funding under BPU’s • Pay for Performance program or the Large Energy Users Programs, • which became available in 2011. The loan can be used for energy • efficiency whole building C&I projects (retrofit and new construction).

  20. Expansion/Relocation Incentives Redevelopment Assistance

  21. Additional Sources of Financing, Capital & Assistance • NJ BPU – Office of Clean Energy - http://www.njcleanenergy.com/ • NJ DEP – Office of Economic Growth & Green Energy - http://www.nj.gov/dep/egge/ • NJ Utilities (e.g. PSE&G Solar Loan Program) • Banks and other Commercial Lending Partners • Angel Investors & Venture Capital • Strategic Partners • Foundations & Non-Profits

  22. Michael A. Wiley Sr. Venture Officer – Technology & Life Sciences Division New Jersey Economic Development Authority mwiley@njeda.com Business Action Center: (866) 534-7789 www.njeda.com www.NewJerseyBusiness.gov

  23. Measurement Mandates • NYC, DC, Seattle, San Francisco, Austin, Los Angeles, CA (state) • USGBC • What is LEED and is it Law • ASHRAE 189 • What is it and how might it effect you

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