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Contractor Financing Workshop

Contractor Financing Workshop. Sponsors:. Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA. Introduction to Financing Workshop. Project of Energy Upgrade California

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Contractor Financing Workshop

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  1. Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA

  2. Introduction to Financing Workshop • Project of Energy Upgrade California • Renewable Energy Development Institute serving Lake and Mendocino Counties • Ecology Action statewide program administration • Sponsors for the workshop include • Mendocino College • Build It Green • Electric Gas Industries Association • North Coast Builders Exchange • Savings Bank of Mendocino • Umpqua Bank • USDA • CHF

  3. Energy Upgrade California Overview • Partnership between the California Energy Commission and Public Utilities Commissions • Collaboration with the local city and county governments, investor-owned utilities and municipally-owned utilities • Vision: Create a sustained home performance industry and transform the market for energy efficiency existing home retrofits

  4. www.energyupgradeca.org

  5. Paths to Participation Basic Energy Upgrade $1,000 Rebate AdvancedEnergy Upgrade $1,250 to $4,000 Rebate

  6. Basic Energy Upgrade Approach • Basic Energy Upgrade Assessment • Packaged set of basic measures • Whole house air sealing to BPI Standards • Attic insulation upgrade to R-38 or greater • Duct testing and sealing to BPI Standards • Combustion safety (CO monitor and BPI Building Analyst testing) • Hot water pipe insulation • Thermostatic Shower Shut-off Valve • Project completed by a participating Energy Upgrade Contractor

  7. Advanced Energy Upgrade Approach • Comprehensive diagnostic assessment • Contractor-developed home energy upgrade solution package – customized work scope • Energy savings verified through test-in/test-out energy modeling – HERS II procedures • Certified Contractors managing project

  8. Energy Financing Basics • Utility energy bill is a form of financing and is what ratepayers are used to • Customer’s common complaint is “I can’t afford energy efficiency or solar” • Contractor’s common comment is “My customers don’t need financing” • Offer energy efficiency and renewables with financing for higher sales volume • Financing Toolbox – no one perfect loan for everyone • Secured financing offers longest terms and lowest interest rates • Unsecured financing offers no lien on property with reasonable rates and terms • Subsidized financing can offer very low rates and enhanced credit approvals • Loans are tailored for residential, commercial and institutional sectors • Cash rebates and tax incentives can reduce initial costs

  9. Residential Financing • Conventional Mortgage – fixed and variable rate with 15 to 30 year terms • Issues with real property values and credit tightening • Lowest rates in a generation • Energy Efficiency Mortgage • Home Equity Line of Credit – variable rate and term • Unsecured Energy Loan – EGIA • CHF Energy Retrofit Loan • CDBG Rehabilitation Loan • Unincorporated Mendocino – CDC / Fort Bragg – City of Fort Bragg

  10. Subsidized Financing • CHF Home Energy Retrofit – Lake County 0% / Mendocino 3% • CDBG Home Rehab Loan – Fort Bragg / Unincorporated Mendocino • Energy Savings Performance Contracting and Power Purchase Agreements • Operating Lease – Solar primarily with Lessor using tax credits • PG&E On-bill 0% commercial financing – gas rate tariff • SAFEBIDCO – Small business and non-profits • California Energy Commission – Ag / Non-Profits / Schools & Hospitals • Property Assessed Clean Energy (PACE) Loans • ABx1 14 Energy Upgrade Financing – loan guaranty • SBA CDC / 504 and 7(a) for business financing • Economic Development and Financing Corporation - RLF

  11. REDI Contact Info Keith Rutledge – REDI Programs Director KRutledge@redinet.org 707-459-1256 office 707-485-2613 cell Terry Phenicie – REDI Programs Manager TPhenicie@redinet.org 707-459-1256 office 704-621-2824 cell

  12. Institutional Financing • Public Finance – Bond measures • USDA Community Facilities • Energy Savings Performance Contracting and Power Purchase Agreements • Operating Lease – Solar primarily with Lessor using tax credits • PG&E On-bill 0% commercial financing – gas rate tariff • SAFEBIDCO – Agencies and non-profits • California Energy Commission – Non-Profits / Schools & Hospitals

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