Sonesta White Plains
White Plains, NY
Over 150 individuals met in person to learn about financing the clean energy transformation needed to tackle the climate crisis and strengthen the economy as well as how to finance a rapid scaling of deep building retrofits and other energy-saving initiatives. Financing will play a vital role in dramatically reducing energy use and greenhouse gas emissions over the next 30 years.
Attendees explored creative and innovative ways to finance projects that are essential for reducing energy waste, saving money, creating jobs, and meeting climate goals. They collaborated and networked with other industry leaders and learned about successful projects that are emerging across the United States that cover energy efficiency as a service and other pay-for-performance finance structures.
Welcome — David Davenport, NY Green Bank
David Davenport, conference chair and managing director at NY Green Bank on the Investment & Portfolio Management Team, welcomed attendees to the forum at the opening session. He is responsible for leading NY Green Bank’s disadvantaged community lending activities, including financing high-performance affordable housing and beneficial building electrification that serves historically marginalized New Yorkers. Mr. Davenport has over 30 years’ experience in real estate, finance, and government.
Opening Keynote — David Nemtzow, U.S. Department of Energy
David is senior advisor at the U.S. Department of Energy’s Loan Programs Office, where among other responsibilities he coordinates LPO’s Virtual Power Plant Initiative, which provides financing to innovate, large, interconnected efficiency, demand flexibility, renewables, storage, and other clean DER projects. Previously he was director of DOE’s Building Technologies Office.
Opening Plenary: Ithaca's Plan to Electrify Everything to Help Reach Goal of Carbon-Neutrality by 2030
| Vanessa Fajans-Turner
Inclusive Prosperity Capital
This plenary included stakeholders working to ensure that Ithaca, N.Y., achieves its goal of electrifying all its buildings by 2030. In November 2021, Ithaca became the first U.S. city to announce a plan reach this goal.
Wednesday Keynote Address and Panel Discussion
Bridging the Gap: Ensuring Access to Energy Efficiency for All
Tony G. Reames, the senior advisor in the U.S. Department of Energy’s Office of Economic Impact and Diversity, discussed energy justice and the need for creative, alternative financial solutions to expand access to energy efficiency. He highlighted efforts of DOE and the “all of government” Justice 40 initiative to achieve equity. The presentation was followed by a discussion on fiscally sustainable and scalable solutions to accelerate investment on inclusive terms. The discussion was moderated by Holmes Hummel, founder and executive director of Clean Energy Works, and the panelists included Tammy Agard, Chief Executive Officer at EEtility and Greg Hale, Senior Advisor for Energy Efficiency Markets & Finance at NYSERDA.
Clean Energy Works
Tuesday, May 24
This workshop provided an introduction to the world of energy efficiency finance. Instructors discussed key components of efficiency financing, the most popular financing models, and the latest trends. The workshop covered the three major market sectors—residential, commercial, and government facilities—with a discussion of pros, cons, and applicability of different finance mechanisms. Matthew Brown of the National Energy Improvement Fund was the workshop presenter.
1A. Utility Financing Program Landscape and Case Studies
| Claire Cowan
| Anne Arquit Niederberger
| Darren Hanway
Southern California Gas
| Hank Ryan
Efficiency Data & Development
This panel explored how utility financing products (such as on-bill) and regulations can spur energy efficiency upgrades. It included a case study of a retrofit of a multifamily building in Germany that dramatically reduced energy waste.
1B. The Flexibility of Green Bank Capital to Fill Market Gaps
|Maria Duanne Andrade
Solar & Energy Load Fund
New York Green Bank
D.C. Green Bank
This panel explored how green banks are using the $7 billion in capital that they've generated in the United States (through 2020) to invest in energy efficiency.
1C. Financing Energy Efficiency in Affordable Housing & Multifamily Properties
| Abigail Corso
| David Davenport
New York Green Bank
| Atalia Howe
Community Preservation Corporation
| Kim Stevenson
Inclusive Prosperity Capital
| Kelly Biscuso
The increased focus on social equity in energy efficiency is attracting new types of lenders, investors, and financing structures aimed at hard-to-reach markets. This panel showcased some of these new capital sources that are targeting efficiency upgrades for affordable multifamily house—a market that has been traditionally underserved.
2A. Energy Efficiency Financing Programs: Evaluation and Innovation
| Kaylee D'Amico
CA State Treasurer's Office
| Alex Hill
& Climate Advisors
| Andrew Chintz
| Fred Lee
Bayview Asset Management
This session looked at how energy-saving financing programs are performing and how they can improve, based on the perspectives of three such programs.
2B. Different Approaches to Energy Efficiency as a Service
| Barend Dronkers
| Gopal Vemuri
| Nick Henner
| Cassandra John
This panel looked at energy efficiency as a service, an approach that finances energy-saving upgrades through a service agreement that requires no upfront capital from the building owner. Panelists discussed companies providing energy as a service products and recent utility involvement in this space.
2C. Market Education of Energy Efficiency Financing Products and Resources
| Rachel Cluett
| Kyle Saltsman
RE Tech Advisors
| Andrew Padian
| David Tancabel
This session helped simplify the complicated world of energy efficiency financing by sharing some of the best resources available to educate the market on financing products and programs for particular sectors or building types.
3A. Maximizing Impact from the Energy Efficiency Revolving Loan Fund Program
| Matthew Brown
| Sam Cramer
National Association of State Energy Officials
| Mary Templeton
| Sean Williamson
This panel discussed lessons learned from past efforts and successes in creating revolving loan funds (RLFs) and the 2021 bipartisan infrastructure bill, which includes $250 million for an energy efficiency RLF capitalization grant program available to states.
3B. Commercial Property Assessed Clean Energy (C-PACE) Landscape
| Michele Pitale
| Kate Cusack
Nuveen Green Capital
| Kim Johnston
| Tricia Baker
| Mark Lyles
New Buildings Initiative
This panel explored how C-PACE, which has more than $2 billion in cumulative investments, can help finance complex energy upgrades in different markets across the United States.
3C. When You Build It … A Case Study of Pay as You Save (PAYS) at Scale!
| Tammy Agard
| Geoff Marke
Missouri Office of
| Elizabeth Ruder
This panel featured varying perspectives that helped make Missouri the first U.S. state where every investor-owned utility will soon be offering PAYS.
4A. How Do We Reach and Finance the Savings from Deep Energy Retrofits?
| Troid Edwards
| Andy Frank
| James Geppner
This panel shared innovative approaches to financing deep energy savings in residential and commercial properties.
4B. Financing Clean Transportation
| Michelle Levinson
World Resources Institute
| Steve Nadel
| Burr Tweedy
New York Green Bank
| Elizabeth Wolfe
US Dept. of Energy
Loan Programs Office
This panel discussed the important role that financing can play in slashing the transportation’s heat-trapping emissions through electrification.
4C. Accelerating Residential Financing Programs and Products
| Veronique Bugnion
| Luz McCarthy
| Mathieu Poirier
& Climate Advisors
| Chris Nichols
This panel discussed incorporating energy efficiency improvements into mortgages, more inclusive financing programs, and Canada’s Community Efficiency Financing initiative for the residential sector.
For more than a decade, the Finance Forum has brought together a diverse mix of participants, including clean-tech and energy efficiency investors; financiers; real estate professionals; community development finance institutions and other mission-driven lenders; utility staff; local, state, and federal officials; policymakers; NGOs; energy service company personnel; energy efficiency program planners, operators, and evaluators; and marketing experts.
Click here for a list of organizations that participated in the 2021 virtual event.