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Residential Multifamily Small Business Commercial / Industrial Nonprofit Energy Efficiency Renewable Energy Credit Enhancement Market Sector EE / RE Type Results State Entity Program Name MUSH 1 On-Bill Repayment Lease PACE Number of Projects Dollar Amount Financed Loans 12 OREGON - Energy Trust of Oregon Home Energy Efficiency 13 R EE CE OB 2,460 $ 23,100,000 1 2 3 4 5 6 7 8 MUSH = Municipalities, universities, schools, and hospitals. Also known as the institutional sector. Connecticut results are from CEFIA Stakeholder Webinar, March 19, 2014. See www.ctcleanenergy.com/Portals/0/CEFIA%20Update_Informational%20Webinar_041914.pdf. CT Solar Lease results as of March 2014. Launched September 2013. CT Solar Loan results are as of March 2014. Launched July 2013. Smart-E results are as of January 2014. Launched May 2013. Cozy Home is for affordable housing. Results are as of March 2014. Launched July 2013. C-PACE results as of March 2014. Launched January 2013. Clean Energy Upgrade results as of December 2013. Launched December 2012. See www.treasurer.ca.gov/caeatfa/annual/2013.pdf. 9 California PACE results are for HERO Residential PACE, the largest of the 8 PACE programs. Launched November 2011. From a presentation by Renovate America to the Association of Energy Service Professionals, 9/2014, and a press release dated July 2014, at http://pacenow.org/renovate-america-closes-50-million-equity-investment. 10 CHEEF = California Hub for Energy Efficiency Financing, 11 The Florida Solar and Energy Loan Fund covers only a small portion of the state. 12 Clean Energy Loan Fund results as of September 2014. Launched February 2011. See http://cleanenergyloanprogram.org/solar_energy_loan/SELF_Overview_FY%202014%2009302014.pdf. 13 The Home Energy Efficiency Loan program is offered through Clean Energy Works Oregon and Craft3, a specialty lender. Results as of December 2013. Launched 2009. See www.craft3.org/2013_Annual_Report/index.html. 22
4. Overview of Maryland’s Existing Clean Energy Finance Programs Section Summary Maryland has numerous financing programs across multiple sectors that are operated by a variety of entities in a decentralized manner. At an average of $20 million in lending per year, the amount of financing available through these programs is insufficient to meet the State’s energy efficiency and renewable energy financing needs. Private-sector capital will need to be leverage to meet this need. MCEC plays an important role in connecting related resources to needs and is established as a trusted third-party advisor for consumers looking to deploy solutions or find financial assistance. MCEC’s MCAP and MHELP programs have been effective at leveraging private-sector capital. Private-sector financing options are readily available in some sectors and for certain technologies, but private-sector financing gaps still exist in many areas. Introduction A number of public and private clean energy financing programs currently exist in Maryland, some of which have been in place for more than 20 years. These programs offer loans, leases, on-bill financing, power purchase agreements, tax-exempt bonds, and other innovative contracts to finance clean energy projects for residential, multifamily, and commercial property owners. Energy efficiency upgrades are the most common target technologies for these programs, although several also finance renewable energy installations. Some of the oldest programs, such as the State Agency Loan Program (SALP), have existed for 20 years, but most programs are more recent, including MCAP, which was launched in 2012. Many of these more recent efforts are still in the pilot phase, such as Pepco and Baltimore Gas and Electric’s (BGE’s) Small Business Energy Advance programs, both of which fall under the EmPOWER program umbrella. State agencies have also put significant effort into examining the potential for new finance programs to target technologies like microgrids and rooftop solar systems; dedicated finance programs targeting these clean energy sectors have not yet been established. Maryland financing programs have an average energy efficiency and renewable energy financing volume of $20 million per year, broken out by sector as follows: $9.7 million for municipal, $4.5 million for residential, $3.2 million for multifamily, $1.5 million for commercial, and $1.1 million across multiple sectors. This section describes the Maryland clean energy finance programs that are currently available, have just become available, or are expected to be available soon. 23
Page 1 and 2: BLUEPRINT FOR BUILDING THE ENERGY E
Page 3 and 4: Prepared for Maryland Clean Energy
Page 5 and 6: 2014 MCEC Board of Directors George
Page 7 and 8: T A B L E O F C O N T E N T S Execu
Page 9 and 10: E X E C U T I V E S U M M A R Y Dur
Page 11 and 12: 1. Introduction Since its creation
Page 13 and 14: 2. Green Bank Overview Section Summ
Page 15 and 16: Finally, green banks emphasize orga
Page 17 and 18: 3. Comparison of Existing Green Ban
Page 19 and 20: The Connecticut Green Bank invests
Page 21 and 22: The GEMS program design will includ
Page 23 and 24: to work collaboratively with the pr
Page 25 and 26: AFV Financing (cont’d) Connecticu
Page 27 and 28: Clean Energy Works (CEW) is a separ
Page 29: Residential Multifamily Small Busin
Page 33 and 34: issued after the completion of an a
Page 35 and 36: funding each year for loans to nonp
Page 37 and 38: equired to install energy measures
Page 39 and 40: Public Clean Energy Grant Programs
Page 41 and 42: In response to the 2014 revisions,
Page 43 and 44: among eligible customers. BGE antic
Page 45 and 46: commonly used for municipal, state,
Page 47 and 48: Sponsor - Program DHCD - Be Smart H
Page 49 and 50: Residential Multifamily Small Busin
Page 51 and 52: Figure 3: Financing Program Average
Page 53 and 54: falls short of the 20% that Marylan
Page 55 and 56: Table 6: Stakeholder Meeting Attend
Page 57 and 58: Payback expectations. Contractors m
Page 59 and 60: treatment and environmental quality
Page 61 and 62: Analysis of Cross-cutting Barriers
Page 63 and 64: Multi-family projects are subject t
Page 65 and 66: Next Steps Having concluded that th

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