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Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of...

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

Contractor Financing Workshop

Sponsors: Build It GreenEGIAMendocino CollegeSavings Bank Of MendocinoUmpqua BankNorth Coast Builders ExchangeUSDA 

Page 2: 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• 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

Page 3: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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

Page 4: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

www.energyupgradeca.org

Page 5: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

Paths to Participation

Basic Energy Upgrade$1,000 Rebate

Advanced Energy Upgrade $1,250 to $4,000 Rebate

Page 6: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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

Page 7: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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

Page 8: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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

Page 9: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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

Page 10: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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

Page 11: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

REDI Contact Info

Keith Rutledge – REDI Programs Director [email protected]

707-459-1256 office707-485-2613 cell

Terry Phenicie – REDI Programs [email protected]

707-459-1256 office704-621-2824 cell

Page 12: Contractor Financing Workshop Sponsors: Build It Green EGIA Mendocino College Savings Bank Of Mendocino Umpqua Bank North Coast Builders Exchange USDA.

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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