county of sonoma
DESCRIPTION
John Haig Energy & Sustainability Manager. County of Sonoma. Status of Energy Independence. Harness the Power of AB 811. SCEIP opened on March 25 th , 2009. The first contract was signed on April 16 th , 2009. Forty-Five million dollars in applications for efficiency upgrades!. - PowerPoint PPT PresentationTRANSCRIPT
County of Sonoma
John HaigEnergy & Sustainability Manager
Status of Energy Independence
SCEIP opened on March 25SCEIP opened on March 25thth, 2009., 2009.
The first contract was signed on April 16The first contract was signed on April 16thth, 2009., 2009.
Forty-Five million dollars in applications for efficiency upgrades!Forty-Five million dollars in applications for efficiency upgrades!
Harness the Power of AB 811Harness the Power of AB 811
Reduce emissions and create jobs; we’re all in it together.Reduce emissions and create jobs; we’re all in it together.
How can AB 811 Benefit You?How can AB 811 Benefit You?
• GHG reduction
• Enables property owners
• Rebates and tax credits
• Repaid over as many as 20 years
• Creates GREEN jobs
FundingFunding
Involve Stakeholders ASAP.
Anticipate a greater financial need from the start.
Do research.
Think creatively.
Work together.
Start BIG.
Consider adding the AB811 contractual assessments to Teeter
AB 811 – FAB 811 – FINANCESINANCES
Assessments to participants;
7% Interest will cover
administration costs plus
Treasury note.
SCEIP Program
Initial $100 Million Dollar commitment
$45 Million in Treasury
Notes
$55 Million from SCWA
Property Tax System-
Assessments repaid through Twice yearly
Tax payments
Bonds;when loan
volume reaches threshold.
$100 Million Financing$100 Million Financing
$100 Million Funding $100 Million Funding Current Applications in DollarsCurrent Applications in Dollars
Applications Received
Your Program Will FlourishYour Program Will Flourish
Take time to create the right program for your needs
Work with Lenders
Plan for a Storefront and/or Web Site.
Tools and Applications
Funding
Administrators
Marketing
Legal Team
Eligibility RequirementsEligibility Requirements
•Legal owner(s) of property
•Current on mortgage(s)
•Current on property taxes
•No Bankruptcy
•No involuntary liens on the property
•Less than 10% value of the property
•LTV 110%
•Lender Acknowledgement on Commercial upgrades
Minimum Financing AmountMinimum Financing Amount
$2,500
AssessmentsAssessmentsAn assessment is an added item on your property tax bill.
Often confused with re-assessing the property.
Paid twice a year with the property taxes.
Remain with the property for up to 20 years.
Does not impact the credit score of the property owner.
If the house is sold, the assessment remains with the property.
AB 811 – Energy StoreAB 811 – Energy Store
SONOMA COUNTY ENERGY INDEPENDENCE PROGRAM
SCEIP Web site SCEIP Web site
The Future of Energy IndependenceThe Future of Energy Independence
Some Possibilities…• Increased commercial outreach • Mandatory/incentivized audits of
homes• Partnership with utilities on joint
efforts towards energy efficiency and distributed generation
The Future of Energy IndependenceThe Future of Energy Independence
Some new hope• Tax exempt status for refinancing
bonds• Other financing possibilities-
deferred comp, private, banking, pensions, Treasury, Federal/State reserve,
• Regional bonding – grant exploration
SCEIP404 AVIATION BOULEVARD, SANTA
ROSA, CALIFORNIA 95403PHONE: (707) 521-6200
FAX (707) 524-3769
[email protected] www.sonomacountyenergy.org
www.sonomacountyenergy.org
(707) 521-6200