Author Archives: Paul Barkley

Webinar: Green Banking at the Local Level

Join Us for a Webinar

October 1st, 2018, 1 p.m – 2:30 p.m. (ET)

Green Banking Strategies for Local Governments

Sponsored by the EPA

 

REGISTER HERE.

 

Tom Deyo, our CEO, together with Bryan Garcia, President and CEO of the Connecticut Green Bank and Jeff Schub, Executive Director of the Coalition for Green Capital, will participate in a panel discussion on green banks at the local level.

Exciting advancements are happening with green banks all across the United States. We will discuss ways that local governments are pursuing innovative financing to support energy efficiency and clean energy investments in their operations and communities.  We’ll give an overview of green banks, how they work and important considerations for local governments looking to bring aspects of the green bank model to their communities. We’ll also talk about how green bank strategies can help local governments fulfill their environmental, energy, and economic priorities.

Webinar Recording: Financing Clean Energy Projects

Webinar Recording:

Financing Clean Energy Projects

Hosted by the American Council for an Energy-Efficient Economy (ACEEE)

Originally Recorded: Tuesday, May 8

Watch here.

In advance of the 2018 Energy Efficiency Finance Forum, held May 21-22, ACEEE moderator Brian Stickles invited Adam Krop of CDP Cities North America, Tom Deyo of Montgomery County Green Bank, and Gwen Yamamoto Lau of Hawaii Green Infrastructure Authority to present their unique perspectives on financing clean energy projects.

The conference took place in Tarrytown, New York. For more on the Energy Efficiency Finance Forum, visit http://aceee.org/conferences

Thinking Local: Sharing the Green Bank Model

Thinking Local: Sharing the Green Bank Model

As part of the green bank movement, we at the Montgomery County Green Bank feel it is our responsibility to share what we know and help other jurisdictions figure out if the green bank model is right for them. On June 7, we convened a day-long workshop at The Historic Inns of Annapolis, in Annapolis, Maryland. We brought together several Maryland / DC / Virginia county/government officials and administrators with six green bank practitioners from several other states and localities to explore the various approaches to the green bank model.

Titled “Thinking Local: The Benefits of a Green Bank for your Community”, the workshop was focused on elevating the concept of green bank model in Maryland, Virginia and elsewhere. We started a conversation by exploring the different facets of green banks, answering questions on strategy, structure, and products, and sharing learnings on best practices.

The day’s proceedings went quickly, with a substantive dialogue and everyone engaged and asking questions. How do you fund a green bank? How can you structure a green bank? What financing programs have been tailored for commercial and residential needs? How is the green bank model helping states achieve their environmental goals? What challenges have been faced in setting up green banks, and how were they overcome? These questions and more were on the table and were readily answered by the assembled green bank practitioners.

I’d like to take a moment here and thank the green bank practitioners in attendance, who so generously shared their knowledge and insight on this important work. Thank you to Bonnie Norman, Principal and Chief Marketing Officer at E3 International LLC, for her commitment to helping shape and organize the event, and to our program presenters including Bert Hunter, EVP and CIO of the Connecticut Green Bank, Mary Templeton, President and CEO of Michigan Saves, Kristine Babick, Program Lead for the soon-to-be-launched DC Green Bank, Lynn Heller from the Climate Access Fund in Maryland, and Jeff Schub from the Coalition for Green Capital. We were also honored to have Stuart Clarke from the Town Creek Foundation, one of our funders, attend and give opening remarks. And I am grateful to the many county officials from across Maryland and Northern Virginia, who took the day to be with us and were so open to the possibilities of the green bank model for their communities.

We are pleased to have started this conversation, and it is one that we as a group have committed to continuing. We look forward to sharing the results of this conversation with you as it evolves.

Tom Deyo, CEO

Montgomery County Green Bank

Montgomery County Green Bank Unveils Commercial Loan For Energy Efficiency and Renewables

FOR IMMEDIATE RELEASE: March 14, 2018

Montgomery County Green Bank Unveils Commercial Loan for Energy Efficiency and Renewables

The First County-level Green Bank’s Program will Expand the Market for Energy Efficiency and Renewable Energy in Montgomery County

Rockville, MD — Today, Montgomery County Green Bank is announcing the Commercial Loan for Energy Efficiency and Renewables (CLEER), a new lending program with partners Revere Bank and Ascentium Capital LLC. The program is aimed at supporting commercial and industrial businesses that are planning to make clean energy or energy efficiency upgrades to their properties in Montgomery County, Maryland. Through the CLEER program, these lenders, commercial contractors, and Montgomery County Green Bank will work together to bridge the financing gap for energy efficiency, solar PV, and energy storage projects in office, retail, light industrial and multifamily rental properties that are not currently covered by existing programs.

“CLEER is the result of partnering with lenders and contractors to offer financing that can accelerate clean energy market growth in Montgomery County,” said Montgomery County Green Bank CEO Tom Deyo. “This loan product exemplifies the green bank approach of working with the private sector market to increase the scale of lending for clean energy and energy efficiency projects.”

The structure of the CLEER program is simple: Montgomery County Green Bank lists eligible contractors, businesses use these contractors to define energy savings scopes of work (including energy efficiency improvements, solar PV, and energy storage), and Revere Bank and Ascentium Capital provide loans to businesses to finance the eligible scopes of work. The borrowing businesses are considered approved based on credit with loan terms set to match the expected energy savings. Montgomery County Green Bank also provides overall program oversight to ensure the success of the program and track progress towards greenhouse gas reduction goals.

“We are excited to see our vision for the Montgomery County Green Bank come to fruition with the launch of its first program,” commented Montgomery County Executive Ike Leggett. “Revere Bank’s and Ascentium Capital’s participation means the start of more accessible financing to support the energy savings improvements of County businesses – a key component of the Green Bank’s strategy. The investments of these lenders also support jobs in our community.”

“Montgomery County has made reducing greenhouse gas emissions one of our highest priorities, and the Montgomery County Green Bank is a key part of our strategy to achieve that goal,” said Montgomery County Council President Hans Riemer. “This new program is a concrete step toward making commercial buildings in the County healthier for our planet and for the employees who work in them.”

Lending partners Ascentium Capital and Revere Bank offer the financing for the CLEER program. They have joined the program to help local businesses and commercial property owners complete energy savings projects that might otherwise not be able to move forward because of a lack of available financing.

“We are proud to participate in the CLEER program and tailor financing programs that support business investment in energy efficiency projects. This represents a substantial opportunity to generate a positive cash flow for businesses. Convenient financing combined with energy saving solutions can drive a substantial return on investment. We look forward to serving the clients in Montgomery County,” said Josh Patton, Vice President of Sales at Ascentium Capital.

“Revere Bank is honored to be involved in this lending program and help both the local business community and building owners,” said Ken Cook, Co-President and CEO, Revere Bank. “Our participation in CLEER demonstrates our commitment to being environmentally responsible, minimizing our carbon footprint, creating jobs, and supporting our local economy.”

Energy efficiency and clean energy upgrades are well-known approaches for reducing energy use in commercial buildings, thereby building stronger, more resilient businesses. Commercial contractors have long worked with the Pepco energy savings program to accomplish these goals.

The CLEER program works in a complementary manner with the Pepco program and builds on its offerings. The CLEER program is primarily funded by proceeds from the merger of Exelon Corporation and Pepco Holdings Inc. Montgomery County’s support for the merger has resulted in over $41 million to the County to create programs benefiting Pepco customers.

“This financing product developed by Montgomery County Green Bank with Ascentium Capital and Revere Bank will be an enormous help to the contractors working in energy efficiency in the commercial and industrial sector,” said Keith Derrington of Recurrent. “Our customers will benefit from the availability of this financing and will help fill the funding gaps our customers tend to face as they decide on moving ahead with projects. We look forward to working with Ascentium Capital and Revere Bank on this financing program.”

CLEER is the first program to be unveiled by Montgomery County Green Bank as part of the organization’s overall mission to increase energy efficiency and renewable energy generation in Montgomery County.

About Montgomery County Green Bank

Montgomery County Green Bank is a publicly-chartered nonprofit organization dedicated to accelerating affordable clean energy and energy efficiency investment in Montgomery County, MD. It is also the nation’s first county-level green bank. In support of the County’s goal to reduce its greenhouse gas emissions, Montgomery County Green Bank partners with the private sector to build a more inclusively prosperous, resilient, sustainable, and healthy community by providing affordable financing options for projects that private investors may not currently be able or willing to finance alone.

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ACEEE 2018 Energy Efficiency Finance Forum

ACEEE Energy Efficiency Finance Forum

We’re pleased to be presenting at the American Council for an Energy-Efficient Economy (ACEEE)’s 2018 Energy Efficiency Finance Forum, happening in Tarrytown, New York on May 21-22. On the 22nd, we’ll join a small group of clean energy finance professionals and contribute to the conversation about the evolution of green banks. We’ll share our experience in setting up the Montgomery County Green Bank.

This event will bring together a wide variety of stakeholders in the energy efficiency and clean energy space. Together, we will explore innovations, trade ideas, discuss what works and why.

Learn more and register here.

 

GreenFest 2018

We’re excited to be an exhibitor at this year’s GreenFest, being held Saturday, May 5th at Jesup Blair Local Park in Silver Spring.

GreenFest is the largest annual environmental festival in Montgomery County, Maryland. It’s free, and a great opportunity for residents, businesses, nonprofits and neighbors to come together, share ideas and learn.
Come by our table and take a Stand for Clean Energy! We look forward to meeting you there.
Learn more at the GreenFest website.

A Great Day at the 2018 Montgomery County Energy Summit

Photo courtesy of Montgomery County Government Press Office.

What a great way to start Earth Month – with the Montgomery County Energy Summit on April 4! We applaud the County for this endeavor and were so pleased to be able to contribute as a sponsor to this Summit, which took place at the Silver Spring Civic Center. Such a terrific chance to hear County Executive Ike Leggett and Jeffrey Abramson of Tower Companies speak on leading the County toward an energy savings future. We thoroughly enjoyed the opportunity created by the Summit to engage with a wide variety of energy stakeholders from across the County on new and progressive approaches to managing energy.

We saw many good energy savings products, interacted with for-profit and nonprofit energy service providers, and were able to participate in important discussions on ways to achieve the County’s energy goals. Wide-ranging topics included strategies for multifamily units, financing solar, data management and working with property managers and brokers to drive energy efficiency in buildings. Board members Bonnie Norman and Bob Sahadi joined me to give a presentation on green banks. Throughout the day, we repeatedly talked about the role of partnerships.

Partnerships are so important in advancing the cause of clean energy and energy efficiency, especially at the local level. Since last year, we’ve been working hard to bring our first financing product to market, and in March – just in time for this year’s Summit – we launched the Commercial Loan for Energy Efficiency and Renewables (CLEER). CLEER is designed to support for profit and non-profit business and commercial property owners in the County in making energy efficiency and renewable energy improvements to their properties or businesses. The tools, connections and resources we offer make it easier for businesses, commercial owners and nonprofits to undertake these kinds of improvements to their properties.

Special features of this loan program – such as no collateral requirement – are possible because of the partnerships we built with two lenders, Revere Bank and Ascentium Capital LLC. And then to achieve results, we rely on the partnerships we are forming with experienced commercial energy-improvement contractors. We’re happy to say that our initial roster of authorized contractors is expanding with more coming on board each week. These lender and contractor partnerships, together with the initial and ongoing support of the County, the Montgomery County Department of Energy (DEP) and other stakeholders, enabled us to provide an offering this year alongside other Summit participants. For us, it was a milestone event just from that perspective.

Now five years strong, it has become quite clear that the County’s Energy Summit is key to successful clean energy actions in the County. The Summit brings in a broad set of participants from the County, state, and the federal governments to drive attention to achieving large-scale energy transformation.

Although the theme of this year’s Summit was incremental steps, the energy at the event demonstrated the tremendous commitment and enthusiasm that lies behind a local shift to clean energy and energy efficiency. This commitment is one more thing that helps make Montgomery County a great place to do business, work, and live. We at the Montgomery County Green Bank felt privileged to be a contributor this year and are already looking forward to next year’s event.

Energy Efficiency Information Session for Businesses

Information Session: Energy Efficiency & Sustainability

Hosted by the Rockville, Olney and Montgomery County

Chambers of Commerce

THURSDAY, SEPTEMBER 27th, 7:30 am-9:30 am
MANOR COUNTRY CLUB
14901 Carrolton Road
Rockville, MD 20853
Save money by saving energy!
Improve your operations and learn about local sustainability programs

We’re inviting local business leaders to join us at a FREE morning event jointly hosted by the Rockville, Olney and Montgomery County Chambers of Commerce. Have breakfast and learn about no-cost and low-cost strategies to reduce your operating costs through energy efficiency, and improve your operations through sustainability programs.

 

We’ll be there, along with our hosts, local businesses and representatives from Pepco and the Department of Environmental Protection. We’ll be talking about ways that energy efficiency and sustainability programs can make your properties better and reduce your energy costs.

Registration and breakfast start at 7:30 am. The program will begin
at 8:00 am, with networking to follow.

REGISTER HERE.

The Montgomery County Green Bank Hires Its First CEO, Tom Deyo

FOR IMMEDIATE RELEASE: June 14, 2017
Montgomery County Green Bank
www.mcgreenbank.org

Montgomery County Green Bank Names Tom Deyo as First CEO
Deyo brings decades of leadership, experience, and vision to the mission of accelerating affordable clean energy and energy efficiency investment in Montgomery County, MD

Montgomery County, MD: The Board of Directors of the Montgomery County Green Bank (MCGB) is pleased to announce the appointment of Tom Deyo as the first Chief Executive Officer of the Montgomery County Green Bank, the nation’s first local Green Bank. Recognizing the importance of public-private commitment to increase energy efficiency, grow renewable energy generation, and reduce greenhouse gas emissions, Montgomery County established the MCGB in 2015 to partner with private lenders and investors and promote investment in green energy technologies. Across the globe, the Green Bank model has been instrumental in the deployment of billions of dollars of public-private investment in clean, lower-emission energy technologies, catalyzing the growth of the clean energy economy.

Deyo will build out this new organization as it works locally in Montgomery County to ensure that residents and businesses in the county have access to more flexible financing options for clean energy and energy efficiency projects. Acting locally in concert with county constituents, the MCGB’s mission seeks to develop markets in energy efficiency and renewable energy financing to support both economic growth and the reduction of greenhouse gas emissions, helping Montgomery County meet its aggressive goals of 80% reduction by 2050 while creating clean energy jobs and new business opportunities.

The Montgomery County Green Bank is a nonprofit organization that works with private lenders and investors to increase the flow of investment to homeowners, multifamily property owners, businesses, and institutions for the installation of greener technologies that reduce energy costs, improve health, increase resilience, and lower the environmental impact of energy consumption. The Montgomery County Green Bank has a specific goal to direct a portion of its work to aid limited- and moderate-income households in accessing this financing.

Deyo, a long-term resident of Montgomery County, has over 30 years of experience in working on housing and community development missions including green and healthy homes. Deyo has worked in the for-profit and nonprofit sectors in financing and investment, technical assistance, knowledge building, and grant making in housing and community development and green programs. Most recently, Deyo was at NeighborWorks America where he has led the corporation’s staff dedicated to supporting real estate development and management, green strategies, and healthy homes and communities. Under the leadership of Deyo and his team, NeighborWorks network organizations grew their portfolio of affordable housing to more than 150,000 owned and managed rental homes. Ninety-five network members achieved the NeighborWorks Green Organization designation demonstrating comprehensive support of sustainable practices extending social, financial, health, and environmental benefits of green homes and housing practices to communities, individuals, and families.

“Tom brings a track record of success to the position of CEO of the Montgomery County Green Bank,” said Bert Hunter, Chairman of the Board of the Montgomery County Green Bank. “His appointment is a key milestone for the Montgomery County Green Bank as we move to unlock private investment in clean energy and energy efficiency markets in Montgomery County. With Tom’s leadership MCGB will drive results that will improve our environment, reduce our community’s greenhouse gas emissions, and stimulate local economic activity in energy efficiency and renewable energy.”

About the MCGB: The Montgomery County Green Bank is a publicly-chartered nonprofit dedicated to accelerating affordable clean energy and energy efficiency investment in Montgomery County, MD. It partners with the private sector to build a more inclusively prosperous, resilient, sustainable, and healthy community.

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