Communicate program results to contractor partners and workforce development stakeholders.
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Communicate the results of your financing activities to internal and external partners.
Establish an evaluation plan that will allow you to determine how your financing activities are impacting the market.
Determine if enhancements to existing financing products or the development of new products are necessary to allow you to achieve your goals and objectives.
Identify and partner with financial institutions that can provide capital, underwriting, and other functions to enable your customers to access financing.
Establish goals, objectives, and timeframes for your financing activities.
Ensure that your program’s customers will have access to affordable financing, so they can pay for the services you offer.
Develop a strategy for communicating program impacts and benefits to key audiences to create and sustain support and engagement.
In order to overcome lenders’ concerns over the risk associated with energy efficiency loans, many Better Buildings Neighborhood Program partners offered credit enhancements to lenders (e.g., loan loss reserve funds) to attract lender participation and to mitigate lender losses in the event of loan...
Some lenders perceive home energy lending to be too risky or not profitable enough for them to get involved. Programs have found that engaging potential lending partners early in the program design process, especially in face-to-face meetings, helped them understand both lender needs and the risks...
Complicated loan and program application processes have deterred many potential customers from following through with an upgrade. Delays and overly burdensome requirements raise barriers to participation. Many programs have successfully employed strategies to reduce the number of requirements that...
Publication Date
Organizations or Programs
Michigan Saves,
BeSmart Maryland
This summary from a Better Buildings Residential Network peer exchange call focused on how loan performance data is tracked and analyzed, and what the data shows.
Publication Date
Organizations or Programs
Efficiency Maine,
Indianapolis Better Buildings Program,
Enhabit
This summary from a Better Buildings Residential Network peer exchange call focused on gathering and communicating loan performance data.
Publication Date
Organizations or Programs
New York State Energy Research and Development Authority (NYSERDA)
This paper investigates the credit enhancement value of NYSERDA's on-bill energy efficiency financing program relative to its similar conventional unsecured loan program. In the raw data, while both loan pools perform well
relative to credit card lending, the on-bill loans default more often than the unsecured loans. This paper shows that this result persists: on-bill loans default more often, and this finding is not sensitive to model specification. This paper also shows that NYSERDA's alternate underwriting mechanism based on mortgage and utility bill repayment history performs well, and that projected dollar savings from the installed projects do not significantly influence loan performance.
Publication Date
This paper analyzes Bank of America's $55 million initiative to provide low-cost funding and grant support to advance energy efficiency investment in low- to moderate-income communities. The funding supported community development financial institutions (CDFIs) in developing and enhancing efficiency programs for residential, commercial, and multifamily buildings. We report on loan performance, energy savings, and the degree to which the savings offset the cost of the energy efficiency investment.
Publication Date
Organizations or Programs
Elevate Energy,
Enhabit
This paper analyzes Bank of America's $55 million initiative to provide low-cost funding and grant support to advance energy efficiency investment in low- to moderate-income communities. The funding supported community development financial institutions (CDFIs) in developing and enhancing efficiency programs for residential, commercial, and multifamily buildings. We report on loan performance, energy savings, and the degree to which the savings offset the cost of the energy efficiency investment.
Publication Date
This study examines actual loan performance data obtained from CoreLogic, the lending industry’s leading source of such data. To assess whether residential energy efficiency is associated with lower default and prepayment risks, a national sample of about 71,000 ENERGY STAR and non-ENERGY STAR-rated single-family home mortgages was carefully constructed, accounting for loan, household, and neighborhood characteristics. The study finds that default risks are on average 32 percent lower in energy-efficient homes, controlling for other loan determinants.
Publication Date
Study examining actual loan performance data to assess whether residential energy efficiency is associated with lower default and prepayment risks. Results show that default risks are on average 32 percent lower in energy-efficient homes, controlling for other loan determinants.
Publication Date
Organizations or Programs
Michigan Saves
This presentation describes the financial data Michigan Saves tracks and how the program uses the data to inform program implementation.
Publication Date
Organizations or Programs
Enhabit
This case study highlights Clean Energy Works Oregon's (now Enhabit) low interest, on-bill financing and alternative underwriting practices which have achieved a low rejection rate while also maintaining a low loan default rate.