With just 26 days until polls close, all eyes are on the presidential race. While this election will have important implications for the future of national climate and energy policy, our mission at the State Support Center remains steady: we’re focused on supporting states in the on-the-ground work to build a clean energy future with widespread, equitable economic growth. Regardless of November’s outcomes, state-level leadership will continue to be of paramount importance for the clean energy transition.
Elect to Talk About It. Community roundtables are emerging as a best practice for spreading the word about elective pay clean energy tax credits. We’ve seen successful roadshows reaching schools, towns, and nonprofits in Michigan and Pennsylvania and we’d love to help you host similar events in your state. Contact us if you’d like to organize these events in your area!
Exciting Growth in the Mission-Driven Green Banking Industry.
The world of green banking is changing quickly. During Climate Week, S2 Strategies helped launch the U.S. Green Bank 50 (GB 50), a groundbreaking new membership organization of state and local green banks throughout the country. GB 50 aims to accelerate the growth of the U.S. green banking industry, speed up investment in clean energy and inclusive climate solutions nationwide, and further increase clean energy investments in lower-income and historically underserved and marginalized communities. You can read more about it from the Financial Times and E&E News.
Shortly after Climate Week, the Virginia Clean Energy Innovation Bank was launched within the state’s energy office, with $10 million in seed funding. And just last week, we saw the first Greenhouse Gas Reduction Fund agreements as the Coalition for Green Capital announced a partnership with Spruce Root for heat pumps in Alaska and Climate United announced a $31.8 million loan to build solar projects benefiting the University of Arkansas.
Inspiration to Brighten Your Day.
Meet Markus. Our Program Director, Melissa Cheatham, met Markus in Arizona at the recent Powering Local Communities event hosted by the Congressional Progressive Caucus Center, which brought together community organizers, elected officials, and technical experts to talk about elective pay. Elected to his local school board while still in high school, Markus lit up the whole room when he shared that his board had just approved 1.7 MW of solar panels at 9 school district locations, which are projected to save the district more than $25 million. This project will receive at least a 30% Investment Tax Credit through elective pay. These are exactly the kinds of projects we are all working so hard to advance. Way to go, Markus!
Big Projects, Big Benefits. Do you understand “How States Can Unlock the Full Potential of the Loan Programs Office” at the Department of Energy? If you missed our webinar, co-hosted with RMI, Center for Public Enterprise and LPO, don’t worry – you can watch the recording here.
Resources From Our Network
We love nothing more than a success story to celebrate – and replicate! Check out the map UndauntedK12 is building to track school direct pay projects. If you know of a project that isn’t listed, please submit it.
Stacking and braiding energy efficiency incentives is tricky. Northeast Energy Efficiency Partnerships has new guidance for managing attribution in designing Home Energy Rebates that stack.
You can’t get lower than 0%. That’s the interest rate available to borrow funds through USDA’s Rural Energy Savings Program (RESP). State agencies and green banks are eligible borrowers and Energy and Environmental Study Institute can help your state apply.
Good work demands good people. Check out our jobs board for opportunities to be part of the good work on clean energy.
By our next newsletter, the election will be over and we’ll know more about the political context in which we’ll work for the next few years. Regardless of the results, our team will remain motivated to continue working together, with you, to drive positive state-led climate action.
Keep up the good work,
The State Support Center Team