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Florida Supreme Court Paves The Way For PACE Financing

An Oct. 1 decision by the Florida Supreme Court will allow Florida municipalities to issue bonds to fund property assessed clean energy (PACE) programs, which provide upfront financing to commercial property owners who want to use green energy in their buildings.

Commercial property owners could tap into this financing source for green energy-related improvements, such as doing energy-efficiency retrofits to buildings or adding solar structures.

The decision was the outcome of an appeal of a bond validation judgment in the Leon County Energy Improvement District’s favor. The district has been seeking the authority to issue $200 million in bonds to fund a PACE program, and appeals of validation hearing judgments go directly to the Florida Supreme Court.

“The ruling is a big win for commercial property owners in Florida and a major victory for the state’s environment,” says Ellie Neiberger, an attorney with Bryant Miller Olive, which represented the PACE supporters in the case. “The ruling gives local municipalities bonding authority that can make clean energy projects more financially viable for commercial properties around the state.”

The programs have gained traction around the country over the past four years and are proving to be popular in a number of other states, such as California, Connecticut and Ohio, says David Gabrielson, executive director of PACENow, a Pleasantville, N.Y.-based nonprofit that serves as an advocate and information provider for PACE financing.

 

Conn. Green Bank To Approve 100th Megawatt Of Residential Solar

The Connecticut Green Bank reports that by the end of this year, it will have approved 100 MW of residential solar power.

More than 15,000 Connecticut homes have gone solar and will generate a majority of their electricity with solar energy. Over 10,000 of these new residential solar customers have made the switch to solar since 2014.

The quasi-public agency has partnered with solar provider PosiGen and private investors to offer new financing options for a much broader range of customers. These options include approval processes that do not require a traditional credit check and the offer of an attractive monthly payment.

“There’s never been a better time to switch to solar power,” says Bryan Garcia, president and CEO of the Connecticut Green Bank. “It’s a smart choice from several perspectives - energy savings, sustainability and predictable costs for homeowners. The key to the success of Connecticut Green Bank is the ability to make green energy, like solar, more accessible and affordable for everyone.”

 

IREC Adjusts Its Regulatory Team

The Interstate Renewable Energy Council (IREC) has made personnel changes within its regulatory team.

Under the continued leadership of IREC Regulatory Director Sara Baldwin Auck, IREC will be represented in state and federal regulatory matters by current key regulatory team members Sky Stanfield and Erica McConnell, both of whom moved this week from the law firm Keyes, Fox and Wiedman LLP to the San Francisco-based environmental, land use and government law firm Shute, Mihaly & Weinberger LLP.

Stanfield joined the firm as senior special counsel; McConnell is special counsel.

While associated with Keyes, Fox and Wiedman - which represented IREC for more than seven years - Stanfield’s practice focused on the intersection of renewable energy regulation and environmental and land use law, with a particular focus on regulatory policy implementation, compliance and permitting processes. She regularly works on the development and refinement of state and federally regulated interconnection standards.

McConnell’s practice combines a focus on renewable energy policy and on-the-ground experience with regulatory and transactional matters. Representing IREC, she has worked in multiple states on issues related to interconnection, net metering, shared/community renewable energy and solar permitting.

“These two key members of IREC’s regulatory team have been integral to IREC’s successes across the U.S., affecting the design and implementation of regulatory policies and best practices that are making it possible for millions more Americans to enjoy the benefits of clean, renewable energy,” says Jane Weissman, IREC’s president and CEO.

 

Scotland Shows Support For Solar Energy With Guarantee

The Scottish government says it will retain the “grandfathering” guarantee for investment in solar under the U.K.’s Renewables Obligation.

The policy runs contrary to what the U.K.’s Department of Energy and Climate Change has proposed for England and Wales. Grandfathering is the guarantee that the level of support provided per unit of electricity will not change throughout the lifetime of a solar installation once it has been built and connected and the investment has been made.

Scottish Energy Minister Fergus Ewing cites the need for “clarity and certainty” for solar projects to attract funding and reach financial close.

The Scottish government has also announced it will not be reviewing the level of Renewables Obligation support for solar prior to the early closure of the scheme - as is being proposed in England and Wales in what is called a “banding review.” Analysts say this will help remove uncertainty and boost investor confidence for projects in Scotland.

“Solar projects in Scotland now know what level of support they are going to get and that they will get it for the full 20 years,” says John Forster, chairman of the Solar Trade Association in Scotland. “It won’t be possible to cut support for Scottish projects down the line in, for example, year 15 of 20.”