Overcoming barriers to securing financing
CLIENT | ReVision Energy
Northern New England’s schools, universities, non- profits and local governments are leaders in the effort to address climate change and to transition our society to renewable, carbon-free energy – yet are challenged to finance such change for their own buildings and campuses. This is due in part to the public sector’s ineligibility to participate in tax-advantaged financing for solar energy and in part to the need to preserve capital for physical plant expansion, faculty and student retention, and other priorities.Contracted to produce a master plan for key infrastructure requirements and investments necessary to support programs, we convened a six-person Master Planning Team (MPT) and subcontracted with the architectural design and construction company, GO-Logic of Belfast, Maine, which specializes in integrating energy efficient building into residential and community design. GO-Logic has helped the MPT to analyze existing building conditions, helped evaluate its energy system needs, with input from Pika Energy and advised the MPT on potential development options and costs.
Philip Conkling & Associates has teamed up with ReVision Energy to develop the New England Solar Energy Endowment initiative to overcome these barriers by providing New England’s civic institutions with third party financing solutions through mission-driven, place-based tax equity investments (TEI), combined with Federal long-term, low-interest debt for qualified renewable energy facilities.
This innovative financial and fund raising initiative combines elements of for-profit and non-profit motivations to jump-start a project, which but acts as a self-funding, carbon-free energy endowment.