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Energy Efficiency Implementation & Finance
1. Energy Efficiency Implementation & Finance Gil C. QuinionesActing President & Chief Executive Officer New York Power Authority October 4, 2011
2. Overview Large Public Power Council New York Power Authority Energy Efficiency at New York Power Authority Energy Efficiency Initiatives in New York Takeaway Questions
3. Large Public Power Council (LPPC) NYPA is a member of a consortium of 25 locally-owned and controlled not-for-profit power systems serving more than 45 million people in 11 states and Puerto Rico LPPC is a member of the Alliance to Save Energy LPPC’s recently established Energy Efficiency Task Force focuses on supporting Federal policy and legislation that facilitates energy efficiency goals Clean & Efficient Energy Program (CEEP) launched in 2009 by Alliance to Save Energy, American Public Power Association, and LPPC. Created an online space for information sharing and peer-to-peer networking to assist public power utilities in establishing energy efficiency programs
4. Niagara Power Project (2,441 MW) St. Lawrence-FDR Project (800 MW) Blenheim-Gilboa Pumped Storage (1,040 MW) 500 MW Combined-Cycle (500 MW) Small Clean Power Plants (450 MW) Richard M. Flynn Power Plant (135 MW) New York Power Authority (NYPA)
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6. In 2008, NYPA committed to finance an additional $1.4 billion by 2015
7. Program results in 4,506 public facilities serviced, saving $135 million a year, and avoiding 824,000 tons of greenhouse gases and 2.5 million barrels of oil a year *Financed to Date
8. Energy Efficiency at New York Power Authority Customers are generally public and governmental entities with low default risk NYPA Energy Services Program Actual Financing to Date, 2008 -2011 ($MM) Breakdown by User Type / Customer
9. Energy Efficiency at New York Power Authority NYPA provides project financing through a revolving credit program funded by issuing commercial paper To date, NYPA’s has financed over $1.4 billion, recovered over $1.0 billion, with no repayment defaults in the program Customer repayment is typically within 10 years. Customers have the option to repay in full at any time with no prepayment penalty Completed Project. NYPA assists with systems commissioning and evaluating expected savings Initial Engineering Audit & Scope of Work Construction. NYPA serves as construction manager Implementation Project Origination Financing Commercial Paper issued to finance project beginning with audit Annual Interest based on cost of commercial paper outstanding in previous calendar year Monthly Interest during construction based on cost of monthly Commercial Paper issued
10. Energy Efficiency Initiatives in New York New York Energy Efficiency Portfolio Standard goal set in 2008 to reduce overall electricity usage by 15% by 2015 Green Jobs / Green NY (2009). Combination of grants and loans available for qualifying residential, small business, and non-profit facilities. Financing through New York State Energy & Research Development Authority (NYSERDA), which uses program funds to leverage commercial lending Municipal Sustainable Energy Loan Program (2009) allows municipalities to use Federal funding to create PACE-based revolving loan program. Several NY cities and towns developed programs but held up after FHFA comments in 2010 Power NY legislation (2011) requires utilities to offer on-bill financing for NYSERDA loan repayments to utility bills. Program in planning stage, targeted to begin in 2012 Recharge New York (2011) provides low-cost NYPA power as incentive for economic development incentives. Applicants will have energy efficiency requirements and those with energy efficiency history will be evaluated favorably
11. Energy Efficiency in New York In 2007, New York City issues PlaNYC, its comprehensive sustainability plan including 127 initiatives to meet clean development goals. Energy efficiency goals in PlaNYC include improving efficiency in buildings, expanding knowledge and energy efficiency workforce, and developing energy efficiency financing and information In October 2010, the City launched the New York City Energy Efficiency Corporation Public-private partnership funded with $37.5 million in Federal Energy Efficiency & Conservation Block Grants Offering financial products and credit enhancements to under-utilized energy efficiency markets including commercial, institutional, multi-family housing, and non-profits Model in development would aggregate small transactions, provide public incentives, and attract commercial lender for project financing
12. Questions to Consider Where is the potential “low-hanging fruit” in energy efficiency? What are the best practice mechanisms for using public funding to leverage commercial lending for energy efficiency? How can policymakers expand energy efficiency programs to customers with higher risk of default while still maintaining excellent credit?
Hinweis der Redaktion
We're the country's largest state public power organization, producing some of the cheapest electricity in North America.Our 17 generating facilities and over 1,400 circuit-miles of transmission lines produce the power to help sustain more than 380,000 jobs statewide.We are a national leader in promoting energy efficiency and the use of renewable-fuel and clean-energy technologies.