Partners in Innovation: Preserving Affordable Rental Housing through Energy Conservation

Regional Green House Gas Initiatives

Michael Colgrove, Director of Energy Programs, NYSERDA – NYC OfficeWednesday, April 14, 2010

3:30-5:00pm

What is NYSERDA?

Mission

Use innovation and technology to solve some

of New York’s most difficult energy and

environmental problems in ways that improve the

State’s economy.

•Public benefit corporation

•Established by the New York State Legislature in 1975

New York State Energy Research and Development Authority

NYS Funding SourcesSystems Benefit Charge (SBC)Public benefits fund to support energy efficiency adoption, research and development, and energy burden and environmental justice issues.

SBC I (1998-2001) = $234.3M totalSBC II (2001-2005) = $750M totalSBC III (2006-2011) = $875M total

Renewable Portfolio Standard (RPS)Provides funding to achieve the State’s goal of replacing 30% of its fossil-fueled electricity use with renewable sources.

RPS = $962M

Energy Efficiency Portfolio Standard (EEPS)Provides funding to achieve the State’s goal of reducing its electricity usage by 15% by 2015.

EEPS (2009-2011) = $950.8M awarded thus far

Emissions Allowance Trading ProgramsRGGI (collections to date plus projected revenue thru 3/2012) = $446MCAIR (for all allowance vintages thru 2011) = $24M

RGGI Proceeds

NYSERDA Programs

Multifamily Performance Program• Funding for both affordable and market-

rate buildings• Challenges owners to reduce overall energy

use by 15%

SBC Funding - $88 millionEEPS Funding - $23 millionRGGI Funding - $18 million

NYSERDA Programs

Home Performance & ENERGY STAR Homes• Both existing and new construction;

affordable and market-rate• Based on national EPA programs

SBC Funding - $104 millionEEPS Funding - $45 millionRGGI Funding - $6 million

NYSERDA Programs

EmPower NY• Low-income program for residents and

tenants• Free appliance and lighting installations• Referrals from utility arrears programs

SBC Funding - $46 millionEEPS Funding - $30.5 millionRGGI Funding - $7 million

OpportunitiesThe addition of RGGI funds creates a number of opportunities:

• Enables oil savings and fuel-neutral programs

• Provides funding for non-SBC customers• Allows us to continue programs with little or

no remaining SBC funds• Leverages and extends current funding

sources• Encourages deeper savings per project

ChallengesThe addition of RGGI funds also creates a number of challenges:

• Tracking multiple funding sources in one project

• Attributing savings – both CO2 and energy• Integrating “cost-effectiveness” metrics for

carbon savings with those for energy savings• Budgeting with uncertain auction proceeds• Managing pipelines with funding received

quarterly• Legislative appropriations

Contact Information

Michael ColgroveDirector of Energy Programs

NYSERDA – NYC Office

MTC@nyserda.org

485 7th Avenue, Suite 1006New York, NY 10018