We’ve been writing a lot about how the multifamily housing sector represents a sizeable opportunity to achieve energy savings through targeted energy efficiency programs.
Now, listen to experts from the American Council for an Energy-Efficient Economy (ACEEE), National Housing Trust, and CNT Energy discuss findings and elaborate on strategies that can help utilities design and implement energy efficiency programs that work. Access the Webinar on YouTube and from the Windows Media file.
Of the roughly 70 questions generated by the discussion, many had to do with financing utility programs:
Question: Can you provide specific of examples of how financing for multifamily programs has been provided?
Anne McKibbin, CNT Energy: With our Energy Savers program, we work with Community Investment Corporation (CIC), the largest multifamily lender in Illinois. They have a revolving loan fund from which building owners can get financing. One-third of building owners who go through the program take advantage of it. The other two-thirds finance out of their cash flow.
Todd Nedwick, National Housing Trust: In New Jersey, PSE&G created an on-bill approach which is very advantageous for the low-income family housing perspective, as owners are often not able to take on additional asset-backed debt. Financing is provided so that it can be repaid through the utility bill, with no up-front costs required on the part of the owner. It’s a really promising model.
See also an appendix in the Metropolitan Area Assessment that provides details on available funding mechanisms for 50 multifamily energy efficiency programs.
- ACEEE: Scaling Up Multifamily Energy Efficiency Programs: A Metropolitan Area Assessment
- National Housing Trust: Partnering for Success: An Action Guide for Advancing Utility Energy Efficiency Funding for Multifamily Rental Housing
- CNT Energy/ACEEE: Engaging as Partners in Energy Efficiency: A Primer for Utilities on the Energy Efficiency Needs of Multifamily Buildings and Their Owners
- University of Arizona: Energy Efficiency and its Relationship to Household Income in Multifamily Rental Housing