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Capturing the Solar Dollar: Sustainable Economic Development Opportunities for West Virginia

Capturing the Solar Dollar: Sustainable Economic Development Opportunities for West Virginia. Washington Homeopathic Products, Berkeley Springs. About Us. $46 million loan fund Patient & flexible capital Advisory services & technical assistance

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Capturing the Solar Dollar: Sustainable Economic Development Opportunities for West Virginia

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  1. Capturing the Solar Dollar: Sustainable Economic Development Opportunities for West Virginia Washington Homeopathic Products, Berkeley Springs

  2. About Us • $46 million loan fund • Patient & flexible capital • Advisory services & technical assistance • For small business, agriculture, nonprofit and municipalities • Triple bottom-line focus: 1X Economic growth 2X Job creation/retention 3X Environmental stewardship • $60 mm in loans to over 360 biz / 25,000 hrs to 1,860 biz / 4,500 jobs • Small business, big impact Clarion Hotel, Harpers Ferry

  3. Not your father’s bank.

  4. Clean Energy Loans We provide flexible and affordable loans to businesses that have difficulty accessing traditional financing at terms that work for them. • Interest rates reflect risk • Currently between 7 – 8 percent • Can be fixed or variable (i.e. “Prime plus”) • Terms • Working capital up to 5 years • Equipment up to 10 years • Solar up to 15 years • Real estate up to 20 years • Flexible provisions may include • Interest-only periods • Seasonal payments • Participation loans with banks/other revolving loan funds • Less restrictive loan-to-value requirements Rates/terms vary, based on individual borrower and project characteristics.

  5. Energy Audit Program • Administrator: Natural Capital Investment Fund • Funding: USDA Energy Audit Program • Purpose: get applicants REAP-grant ready • Eligible costs: energy audits / assessments / technical reports • Cost-share: 3:1 match • Average out of pocket costs • Farm: $400 average • Small Business: $625 - $1,250 based on scope FINAL CUTOFF May 31, 2019 Example: Your energy audit will cost $2,500– we pay $1,875, you pay $625.

  6. WV Solar Portfolio Companies

  7. Multiple Benefits of Clean Energy

  8. Economic Impacts along Solar Value Chain

  9. North Carolina

  10. North Carolina

  11. Clean Energy’s Impact on North Carolina

  12. NC Property Tax Revenuepilot reporting

  13. 2018 NRDC Report for Midwest

  14. 2018 NRDC Report for Midwest

  15. The Business Case • Tax incentives: 30% federal tax credit & accelerated depreciation • Grants: 25% USDA REAP • Loans: REAP Guaranteed Loans & PACE/LEEP financing • Rate stability • Enhanced asset value • Customer attraction/loyalty • Business interruption mitigation, with batteries • Dr. Dino Beckett, Mingo County

  16. Advocate for Solar • Power Purchase Agreements • Renewable Energy Portfolio Standard • Net metering rules • Property Assessed Clean Energy • Property tax exemption • State tax credit • Incentives for manufacturing • Also: energy efficiency programs Clean Energy Policy Agenda coming soon!

  17. Contact Us ncifund.org @NCIFund on Facebook/Twitter

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