1. FUNDING DEEP ENERGY
RETROFITS TO FUTUREPROOF
AFFORDABLE HOUSING
Partners in Innovation
Boston – April 14, 2010
Blair Hamilton

2. It’s Useful to Differentiate
“Funding” from “Financing”
Funding Financing
Public Investment, Financial mechanisms to
including grants, spread the cost of
interest rate subsidies, measures over time,
tax credits, etc. including consumer loans,
leasing, mortgages,
+ performance contracts,
power purchase
Building Owner’s share
agreements and property-
of investment in energy
secured finance
efficiency measures

3. Combining Funding and
Financing to Pay for Deep Retrofit
100%
70% Financed
out of Savings
30% Funding

4. VERMONT EXAMPLE - 2010 Funds
REGULAR FEDERAL
$1M
WEATHERZATION PROGRAM
STATE WEATHERIZATION
SUPPLEMENTAL (ARRA) $5M
TRUST FUND
$8M
WEATHERZATION FUNDS
ARRA SEP FUNDS $1M
UTILITY RATEPAYER FUNDS
(EFFICIENCY VERMONT & $3M REGIONAL CABON
$2M
VERMONT GAS SYSTEMS (RGGI) REVENUES
VERMONT HOUSING AND REGIONAL FORWARD
$.5M CAPACITY MARKET (ISO- $.2M
CONSERVATION BOARD
NE) REVENUES
VERMONT SMALL
$.5M McARTHUR FOUNDATION
RENEWABLE GRANTS $.2M
FED. APPLIANCE REBATES $.1M
SEN. SANDERS EARMARK $.2M TOTAL $22M+

5. GOING FORWARD
1. New Funding Opportunities to Support Deep Retrofit
from HUD
2. HOME STAR and BUILDING STAR now in Congress
• Jobs Bill with focus on quick implementation
• Direct Federal Funds for Retrofit
• HOME STAR is first-up: $6 Billion this year in
rebates to homeowners
• BUILDING STAR in the wings: $6 Billion in rebates
to owners of all other buildings, including rental
housing
• Funds provided through States and “Rebate
Aggregators”

6. HOME STAR
• Silver Star – $3.7B in prescriptive rebates for
individual measures (typical $1,000 per measure,
not to exceed $3000 per home)
• Gold Star – comprehensive, audit-based rebates
based on % savings reduction (not to exceed $8000
per home)
BUILDING STAR
• Proposed $6B in rebates for qualified retrofit
measures on a per square foot or % savings basis,
not to exceed 50% of installed measure cost
• Example: $.60/sq ft for most insulation; $150-$300
per window based on performance; $.25/sq ft for
lighting that reduces energy use by 25%.