SIERRA CLUB MARYLAND COOL CITIES WORKSHOP JUNE 27, 2009
Page Agenda EZ|Energy Zone Program Overview Program Benefits How it Works Q&A 2/14/2014Confidential 3
Page EZ|Energy Zone Finances green improvements with voluntary property tax assessments Eliminates barriers to adopting green improvements No cost to government Enables government to create green jobs and reduce carbon emissions by promoting clean energy improvements for buildings 2/14/2014Confidential 4
Page Benefits to Property Owners Begin saving money immediately No up-front costs No impact on credit No loan application No sunk costs – subsequent owners assume payments 2/14/2014Confidential 5
Page Benefits to Government Reduce greenhouse gas emissions by % per improved building Create green jobs Neutral impact on government budget Confidential6
Page For Every 1,000 Properties 2/14/2014Confidential 160 new jobs Invest $10 million into local economy Cut 1,400 tons of carbon emissions Save $340,000 annually on utility bills Assumptions Average cost of improvements $10,000 Average 7 tons/year carbon emissions per property (homes) Average $140/month household utility bill (Pepco Rate Announcement, 3/7/06) 20% energy savings per project (range is 10 to 40%) 16 jobs created per $1 million invested (Center for Working Families, Green Jobs NY Program Background, February 2009) 7
Page How it Works - Government Pass enabling legislation Negotiate and sign agreements Finance energy improvements Collect via special fee or tax 2/14/2014Confidential 2-4 MonthsOngoing 8
Page How It Works - Property Owner 1. Submit application 2. Schedule energy audit and scope work 3. Receive approval on scope 4. Agree to special tax or fee 5. Complete work 6. Repay via special tax or fee 2/14/2014Confidential 9
Page How It Works - Financing Government Pays PO 2/14/2014Confidential Bank Property Owner Loans to E|W Repays E|W Deposits to City acct Repays as fee Repays loan 10
Page Thank You Peter Mellen /14/2014Confidential 11
Page About Edison|Wright Program Coordination Legal framework Partner coordination Accountability for program development and launch Marketing Program site design and hosting Search Engine Marketing Partnerships and PR Administration and Finance Application underwriting Customer service Reporting Contractor management 2/14/2014Confidential 12