Finance Working Group

 

Financing energy efficient retrofits is a challenge that many members of the NYC Building Performance Stakeholder Consortium have been grappling with for years, long before the economic downturn stalled real estate investment. This spring, the Lab formed a Working Group, drawn from members of the Stakeholder Consortium, to look into American Recovery and Reinvestment Act funds directed toward retrofit projects in commercial spaces. Not finding many, the Group’s scope expanded to existing and emerging funding mechanisms, including those funded publicly, through tax incentives and utility-based incentive programs, and private models.

 

We recruited two smart and tenacious Baruch College MBA candidates, Daniella Leifer and Ryan North, to research and prepare a report on funding options. Ellen Sinreich, President and CEO of Green Edge LLC and a Consortium member, agreed to help guide their work. Daniella and Ryan reached out to other advisers, including Mayur Subbarao, Executive Vice-President of the Sustainable Profit Group, who has put together financing for energy efficient retrofits in New York City and the surrounding area.

 

Mr. Subbarao made a presentation on alternative financing models at the second Working Group meeting held in late October. At that meeting, members discussed a draft of the paper by Ellen, Daniella, and Ryan, “The Evolving Picture of Energy Efficiency Financing for New York City Commercial Buildings.” A draft of report was sent to the full Consortium and will be discussed at the Nov. 12th meeting. Nancy Anderson, Executive Director of the Sallan Foundation, has generously offered to feature the finished report on the Sallan website; other publication avenues are currently being explored.

 

Download a draft of the report:

“The Evolving Picture of Energy Efficiency Financing for New York City Commercial Buildings.”