Financing Energy Efficiency
Wednesday, Sep 14, 2011
The greatest barrier architects face when trying to design for energy efficiency is the client who says, “We can’t afford to pay for energy efficiency. We can’t spend our up- front dollars for this, when there are so many other compelling needs.” Too often, especially in retrofits, energy efficiency gets “value engineered” out. Even short paybacks cannot convince many. Capital expenditures trump operating dollars every time.
At this two-part series, learn about methods of financing energy efficiency, instead of paying for these capital improvements up front. There are several strategies for paying for energy efficiency improvements off the balance sheet. Some do this by restructuring the underlying mortgage, using the projected income from energy savings as part of the equation. Some use Energy Service Agreements, where a third party pays for the original up front expense and takes on the responsibility for paying the utility payments, making a profit on the difference between prior energy bills and new energy bills. The new NYC Energy Efficiency Corporation will use both private and public funds to leverage energy efficiency funding. Incentive programs from utilities, NYSERDA and the federal government will be the focus of Part 2, on November 9.
Sponsor: AIA-NY Chapter
Moderator: Susan Leeds - CEO, New York City Energy Efficiency Corporation.
Panelists: Sadie McKeown - Senior Vice President/Director of Field Offices & Green Financing Initiative, Community Preservation Corporation; Sean Neill - principal and founder, Cycle-7, an affiliate of Transcend Equity; Michael Weisberg - founded M-Core™ Credit Corporation.
Date: Wednesday, September 14, 6:00 - 8:00 pm
Location: The Center@AIA-NY, 536 LaGuardia Place
RSVP: AIA-NY Chapter