This is a defining time for the future of energy financing.
Interest in a streamlined connection between investment capital and a new generation of energy projects is shifting into high gear. Technical support, administrative funding, and most importantly a national loan loss reserve are all within reach because of the 2022 Inflation Reduction Act (IRA). The IRA is the most significant federal investment in U.S. history to help fight the climate crisis and it earmarked $28 billion for pioneering energy financing programs.
Finance entities and front-line leaders that take action in this watershed moment will lead the way to vigorous economic growth, supporting working families in tangible ways, and creating more blue-collar jobs.
The right financing + the right project partners
= more energy independence
Experience matters
Public Sector Consultants (PSC), a nonpartisan public policy research and consulting firm, is the force behind the creation of the nation’s first nonprofit green bank – Michigan Saves. After the successful establishment of Michigan Saves, PSC played a foundational role with other green banks, such as providing advisory services to the DC Green Bank and the Indiana Energy Independence Fund.
PSC has the know-how to lead any locally engaged team that is ready to explore, start, or grow a green bank in their city, county, or state.
Michigan Saves sprang from a 2009 grant through the Michigan Public Service Commission to create an innovative system for renewable energy financing and energy efficiency. One year later, Michigan Saves was incorporated as a 501(c)(3) nonprofit, led by a diverse board of directors. Once established, the board engaged PSC to staff the organization —a role we still play today — leveraging our expertise and history with Michigan Saves to provide steadfast management services in support of this flourishing green bank. Since its founding, Michigan Saves has delivered over $450 million in loan originations.
Five phases of a green bank
Through PSC’s work establishing green banks, we have identified and refined standard components that are vital to conceptualizing, structuring, and launching a successful green bank. Not all entities will require support in each area, but each component is an important part of the process.
Learn more about the components included in each phase.
The whole package
To effectively seek funding for a new green bank, PSC can support an entrepreneurial team by drafting a business plan that summarizes overall operations including governance and staffing, administrative costs, future funding availability, loan products, and recommended timing to meet established goals. Financing products and programs are at the heart of all green banks, and while PSC will not run these programs, we have access to national leaders in the field that have proven plug-and-play financing products to quickly deploy clean energy financing at the local level. Depending on the needs of the community, these may include the Smart-E Loan for residential projects provided by Inclusive Prosperity Capital and commercial, nonprofit, and municipal lending services provided by the National Energy Improvement Fund.
Operations
- Administration
- Governance and staffing
- Organizational development
- Marketing and promotion
- Program management
Residential
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No money down home energy loan
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Low-interest financing with long terms and fixed payments
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Network of contractors across all trades and experienced lenders
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Access to a new market
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Sophisticated credit enhancement
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Significant value to customers
Commercial, nonprofit, or government property
- Simple and fast financing, licensed lender in all 50 states
- Equipment financing/leasing (HVAC, lighting, plumbing, etc.)
- Construction equipment and bridge capital loans for contractors
- Rebate advancements for contractors
- Supports installation of high-efficiency equipment and major construction projects for businesses
Are you ready to plug and play?
Power up with us.
Homeowners can benefit from lower energy bills and improving the comfort of their homes
Commercial building upgrades save money and create healthier, productive work environments
Energy independence supports the creation of good-paying clean energy construction jobs
Public and private entities can design more programs targeted to help specific communities
Make it happen
PSC has the expertise to support committed leaders and advocates in setting up the next generation of energy financing. Our strong track record of successfully advising, building, and operating financing entities proves that we have the technical chops to get the job done. Seize this extraordinary federal funding opportunity to ensure that your community doesn’t miss out on the benefits supported by the IRA.
This is just the beginning.
Let’s talk details.
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