$50B Bill to Fund Clean Energy Economy Proposed by Illinois Senator Dick Durbin
U.S. Sen. Dick Durbin, D-Ill., has introduced America's Clean Future Fund Act, a bill that would spur job creation by investing in a clean energy economy, achieve critical reductions in greenhouse gas emissions, facilitate a fair transition for workers from declining energy sectors and renew the U.S.' commitment to technology, innovation, and a sustainable future.
Minneapolis, MN Seeks ‘Inclusive' Financing for Energy Efficiency Improvements
A proposal before state regulators would create a Pay As You Save program in the City of Minneapolis to help more homeowners afford efficiency upgrades. In this $50 million pilot program proposal, customers would be able to borrow money for energy efficiency improvements and repay it through their monthly utility bill.
Two $80M Solar Projects Planned for Mississippi
The chairman of Mississippi's public service commission has approved $80 million solar facilities for Hancock and Clarke Counties, bringing separate electric generating stations to each county and delivering wholesale power directly to the Mississippi Power Company/Southern Company transmission grid. Both projects are expected to create about 300 temporary construction jobs and five permanent positions in each county.
Iowa City, IA Puts TIF Districts' Unused Funds Toward Climate Goals
Iowa City Council amended three urban renewal area plans that could translate into millions in green financing, and the city plans to use property taxes from each area to finance energy efficiency improvements through a system of matching funds for eligible properties. Iowa City has committed to reducing citywide carbon emissions by 40% from 2010 levels by 2030 and reaching net-zero emissions — sequestering more carbon than it is producing — by the year 2050.
New Jersey Passes PACE Bill, Advancing Financing for Businesses & Multifamily Efficiency Upgrades
The New Jersey General Assembly has passed legislation creating a financing mechanism to help commercial property owners undertake clean energy and energy-efficient projects. The bill will enable the New Jersey Economic Development Authority to establish a Commercial Property Assessed Clean Energy (C-PACE) program.
Fannie Mae Expands Green Bond Program
Late last month, the mortgage financier announced the issuance of its latest Single-Family Green Mortgage-Backed Security under its Green Bond Program. The first bond in the program was issued on April 22, 2020, in observance of the 50th anniversary of Earth Day. Since then, Fannie Mae reports it has issued over $40 million worth of the issuance.
Miami-Dade County, FL Receives $235M EPA Loan to Upgrade Wastewater Infrastructure
Miami-Dade County has received a $235 million loan from the federal government to help fix its troubled sewer system, which is plagued by leaking pipes that often spill untreated wastewater into Biscayne Bay, beaches and waterways.
Can C-PACE Provide a Piece of the Post-Covid Puzzle?
Despite reduced overall levels of investment in Q1 and Q2 2020 as a result of the pandemic, interest in Commercial Property Assessed Clean Energy financing, or C-PACE, has risen in some markets across the country.
Massachusetts Launches PACE Financing Program for Energy Improvements
In Massachusetts, 21 communities throughout the commonwealth will now be able to offer a new PACE program, adopted in 2016 as part of an act to promote energy diversity, that allows for long-term financing of large energy improvement projects. Property Assessed Clean Energy Massachusetts will allow property owners a way to finance energy efficiency upgrades, renewables, and gas line extensions.