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Community Investment Corporation "On Bill" Energy Financing Fact Sheet

In cooperation with the utility companies (ComEd, NICOR, North Shore Gas, Peoples Gas), CIC-Energy Savers will soon offer loans for energy retrofits of multifamily (5 to 50 units) properties which can be repaid as an additional item on a utility bill.
Finance Illinois On-Bill Utility Payment Retrofit Utility Incentives & Programs

Energy Savers Fact Sheet

ENERGY SAVERS helps lower operating costs of apartment buildings by reducing energy usage. FINANCING Energy Savers loans are secured with a second mortgage lien. The first mortgage lender must allow the Energy Savers subordinate loan to be secured with a subordinate mortgage. The property must be: 1. An apartment building with at least five (5) residential units, and 2. Located in the cities of Chicago or Rockford; or the Illinois counties of Cook, Lake, Kane, DuPage, Will, McHenry, or Kendall, and 3. In need of energy-related repairs.
Finance Illinois Incentives Retrofit

Building Energy Efficiency Partnerships for Affordable Multifamily Housing: 2015 and Beyond

This paper offers a snapshot of the resources devoted to promoting low-income multifamily housing energy efficiency retrofits; it describes many of the policies, public-private resources and partnerships influencing and funding the field in late 2014.
EB5 ESCO Finance Policy Proposal Report/Research Brief Retrofit Utility Allowance Utility Incentives & Programs

Valuing the Financial Benefits of Energy Efficiency in the Multifamily Sector

This paper focuses on how efficiency upgrades affect the financial performance of multifamily buildings. It also provides a replicable methodology for similar research to be carried out on Elevate Energy’s growing portfolio as well as other multifamily buildings nation-wide. Increasing the energy efficiency of multifamily buildings not only helps owners improve building operation, but also provides a lending opportunity for financial institutions. Energy efficiency program implementers and policy makers who aid in shaping utility Energy Efficiency Portfolio Standards also benefit from understanding the full range of positive effects associated with multifamily energy efficiency improvements. These non-energy benefits (NEBs) can range from improved health to job creation and lower greenhouse gas emissions. In this study, we analyzed the financial benefits of energy efficiency upgrades in multifamily buildings. We also examined building owners’ motivations for investing in energy efficiency. We looked at a group of thirteen buildings upgraded through the Elevate Energy efficient buildings program, formerly known as Energy Savers, and compared them to twenty-one buildings that underwent an energy assessment, but did not complete an upgrade. We also interviewed five building owners who completed upgrades through the program. Interviews focused on learning more about their motivations for investing in their buildings and the financial outcomes they perceive. All of the buildings in this study have naturally occurring affordable rents in low-income neighborhoods. Based on the quantitative analysis of pre- and post-upgrade data, buildings that completed an upgrade experienced a 1.6% median increase in net operating income ($29.10 per unit), a $0.12 per square foot decrease in gas costs, and a $0.34 per square foot increase in rental income six months to a year after the upgrade. In the interviews, building owners emphasized the impact of turnover costs and associated lost rental income on the success of a building. They also discussed the importance of keeping rent affordable to maintain a core group of stable, happy tenants. Overall, our results highlight the financial benefits of energy efficiency upgrades among owners who choose to complete the improvements. The paper concludes with specific recommendations for lending entities, energy efficiency programs, and building owners.
Benchmarking Database Finance Retrofit

Green Tax Incentive Compendium: Federal and State Tax Incentives for Renewable Energy and Energy Efficiency

This volume presents certain federal and state tax incentives promoting the renewable energy and energy efficiency industries. Each section outlines the basic features and regulatory requirements for a tax program which provides financial incentives for clean technology development through renewable energy and energy efficiency projects.
Finance Incentives Renewable Energy Retrofit

Show Me the Money: Energy Efficiency Financing Barriers and Opportunities

This paper briefly characterizes energy efficiency market sectors; describes the major players in the energy efficiency financing market; describes the key barriers facing each market sector; reviews primary internal and external financing strategies used by each market sector; summarizes our investor discussions; and offers conclusions and recommendations for catalyzing large-scale deployment of capital to the energy efficiency sector.
ESCO Finance Split Incentive

Energy Efficiency Finance 101: Understanding the Marketplace

The number and diversity of energy finance programs have increased dramatically in recent years. Likewise, there is a growing interest among different types of financial institutions in participating in local initiatives. However, finding a financial partner that best fits a particular program can be a challenge. This paper attempts to catalog the different categories of institutions in the marketplace so that readers will be more equipped to determine which type may offer the best fit for a local initiative. In addition, the paper offers descriptions of the different types of loan structures and mechanisms most often used in energy finance.
Finance Utility Incentives & Programs