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Kresge Foundation Commitment to Advance Solar+Storage, Energy Efficiency (Ind. Report, Funding)
Clean Energy Group
Date: 2020-01-13
The Kresge Foundation, the Montpelier, Vermont-based not-for-profit Clean Energy Group (CEG) and New York City Energy Efficiency Corporation (NYCEEC) are reporting a $3.3 million commitment to accelerate the market development of solar PV plus battery storage (solar+storage) technologies in historically under-served communities. The multiyear financing program guaranteed by the Kresge Foundation includes:
  • A $3 million loan guarantee to reduce credit risk for solar+storage projects in low- and moderate-income areas. Structured as a 50 pct payment guarantee to help ensure borrowers' loan payments remain current, this innovative credit enhancement reduces the risk of a payment default to lenders and their investors who provided capital for solar+storage loans.

  • $170,000 in a capacity-building grant to accelerate the participating lender's ability to finance solar+storage projects, build project pipelines and actively engage in information sharing.

  • $120,000 in technical-assistance grants to enable eligible project owners and developers to assess the technical and financial feasibility of new solar+storage projects.

    Clean Energy Group is a national, nonprofit advocacy organization working on innovative technology, finance, and policy programs in the areas of clean energy and climate change.

    Established in 2010 as the nation's first local green bank, NYCEEC is a 501(c)(3) mission-driven lender focused exclusively on energy efficiency and clean energy in buildings. (Source: Clean Energy Group, Vermont Business, 9 Jan., 2020) Contact: NYCEC, Jessica Luk, Director of Development, www.nyceec.com; Clean Energy Group, Robert Sanders, rsanders@cleanegroup.org, www.cleanenergygroup.org; Kresge Foundation, www.kresge.org

    More Low-Carbon Energy News Clean Energy Group,  Solar+Storage,  Energy Storage,  


  • NYCEEC Co-CEO to Advance Energy Efficiency Financing (Ind. Report)
    New York City Energy Efficiency Corporation
    Date: 2018-05-16
    The New York City Energy Efficiency Corporation (NYCEEC) announced expanded senior leadership today to accelerate its growth and to deliver on its mission to advance energy efficiency and clean energy financing solutions. Board member Curtis Probst has joined Susan Leeds as co-CEO.

    The new leadership team will focus on growing NYCEEC's lending platform and new initiatives to build energy efficiency and clean energy financing markets for commercial and multifamily buildings. On the horizon are the launch of C-PACE in New York City, the strategic expansion of NYCEEC's loan originations to an eight-state region including New York State, and continued innovation in support of critical initiatives such as net-zero affordable housing renovations through RetrofitNY.

    NYCEEC is a non-profit finance company that provides loans and financing solutions for energy efficiency and clean energy projects. NYCEEC has financed over $135 million of energy efficiency and clean energy projects across hundreds of buildings and nearly 5,000 affordable housing units. (Source: NYCEEC, PR, PRNewswire, 15 May, 2018) Contact: NYCEEC, Susan Leeds, CEO, Posie Constable, Director of Business Development, Posie Constable, Head of Business Development, (646) 797-4630, pconstable@nyceec.com, www.nyceec.com

    More Low-Carbon Energy News New York City Energy Efficiency Corporation,  Energy Efficiency ,  

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