Improving the energy efficiency of housing, businesses, and community facilities can transform lives and communities by lowering operating costs, creating “green collar” jobs, and reducing carbon emissions. Financing these projects is an emerging and growing segment of the opportunity finance industry, which is uniquely positioned to bring environmental sustainability and economic opportunity to low-income communities traditionally left behind by more mainstream energy efficiency loan programs.
With the support of Bank of America, in 2012 OFN launched an Energy Efficiency capacity building initiative to help CDFIs improve and expand their energy efficiency financing programs. The initiative included a webinar series and the creation of a low-cost financing fund to support OFN members’ energy efficiency lending.
Podcasts and Webinars
Supported by Bank of America, OFN developed the following trainings to help CDFIs improve their energy efficiency financing programs.
Underwriting Multi-family Energy Efficiency Projects
Is your CDFI interested in supporting energy efficiency and cost control in affordable multi-family buildings? Learn how OFN Member Enterprise Community Partners is meeting the challenges of underwriting such transactions.
Underwriting Energy Efficiency Loans for Real Estate 101
Clean energy and community development expert Robert G. Sanders discusses what’s needed to adequately underwrite an energy efficiency commercial loan. He introduces different ways to establish baseline and projected energy savings for occupied and unoccupied existing buildings and new construction; identifies special energy-related loan conditions to help ensure that expected energy outcomes are achieved; discusses what the impact of projected energy cost savings will have on the credit analysis (e.g., debt service coverage ratio, real estate appraised value); and suggests an effective application and underwriting process for energy efficiency commercial loans.
Energy Efficiency Measurement and Analysis
Often a third of a building’s operating budget, utility expenses can be the biggest—and most unpredictable—line item. In the past, understanding a facility’s energy performance was time-consuming, tedious, and unwieldy. Manual data entry and record keeping frequently resulted in inconsistent and error-prone analysis. Today, a number of software products exist to simplify this process and provide automated utility tracking and building performance benchmarking. In this podcast, two of the leading platforms in the market, WegoWise and EnergyScoreCards, demonstrate their products and show how utility analysis can uncover savings opportunities in your existing properties or in plans for new construction.
Partnerships for Energy Efficiency Lending
Effective energy efficiency lending requires unique skills and knowledge. In this podcast, learn which improvements have the most impact for the least cost and how to structure loans that work for the customer and the CDFI. Hear from Jack Markowski, President & CEO of Community Investment Corporation, and Anne Evens, Director of CNT Energy, who describe their successful Energy Savers partnership, which has reduced energy costs by 30% in more than 9,500 affordable apartments in the Chicago Metro area. This innovative partnership combines the lending expertise of a CDFI and energy efficiency expertise of a nonprofit energy organization to deliver a one-stop shop for multifamily building owners.
Green Finance Fund/United States Green Building Council (USGBC)
Wanda Speight, EVP Financial Services for OFN, discusses OFN’s Energy Efficiency Financing Program and announces OFN’s partnership with the United States Green Building Council (USGBC). Beth Holst, VP of Strategic Alliances for USGBC, presents an overview of USGBC and some of the benefits OFN members will receive through the partnership, including free and discounted services.
Helping OFN members and partners deliver lasting change where it’s needed most.