Groups Seek to Expand Funding for Efficiency Improvements in Affordable Housing Properties
This article from June 2014's Tax Credit Advisor Magazine describes how to tap utility funding for energy efficiency. The article was written by Todd Nedwick (National Housing Trust) and Deron Lovaas (Natural Resources Defense Council).
Retrofitting affordable multifamily housing properties to make them more energy efficient is critically important for building owners and residents alike. But investing in energy efficient improvements requires capital, which can be difficult to secure in the current era of constrained public budgets. To address this challenge, the National Housing Trust is partnering with Natural Resources Defense Council, Energy Foundation, Elevate Energy, and New Ecology to achieve a common goal: boosting the levels of both utility and state funding available for energy efficiency improvements in multifamily housing properties, particularly affordable housing.
The partnership focuses specifically on a growing source of funding that has been largely untapped by this market: utility-supported state energy-efficiency programs. These programs, operated by utility companies such as electric and gas companies, provide discounts on efficient appliances, grants for installing energy-saving improvements (e.g., insulation and windows), and other incentives to support making other energy-efficiency improvements to commercial and residential properties. For more about how the partnership is seeking to expand funding for efficiency improvements in affordable housing properties, read the article in full, below.