Clean Energy Upgrade Program
Workshop for Financial Institution Stakeholders
The State Treasurer's Office (STO) is hosting a workshop on energy efficiency and renewable energy financing through the Clean Energy Upgrade Program for financial institution stakeholders on December 2, 2011.
On August 2, 2011, Governor Jerry Brown signed ABX1 14 (Skinner) into law. ABX1 14 authorizes the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) to administer a Clean Energy Upgrade Program (Program) using up to $50 million from the funds originally appropriated to the SB 77 PACE Bond Reserve Program.
Under this Program, CAEATFA may provide financial assistance in the forms of credit enhancements to financial institutions providing a loan to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements on homes or small commercial properties. Initially, CAEATFA anticipated establishing a loan loss reserve program to support these loans.
CAEATFA also anticipates it will solicit proposals from interested parties who have ideas on additional credit enhancement structures CAEATFA should consider to support energy efficiency and renewable
To learn more about the program or to register for the workshop, go to http://treasurer.ca.gov/caeatfa/abx1_14/index.asp or contact Martha Alvarez; email: Martha.Alvarez@treasurer.ca.gov; phone: (916) 651-5105.