Rocky Hill, Conn., April 13, 2012 -The Clean Energy Finance and Investment Authority (CEFIA) released a Request for Proposals (RFP) for a Clean Energy Financial Innovation Program (Program).
The RFP seeks to attract financial institutions to identify new and innovative financing strategies to spur the deployment of residential clean energy installations in Connecticut. Funds for this Program are available as the result of the recent repurposing of American Recovery and Reinvestment Act (ARRA) State Energy Program (SEP) funds. Applicants proposing financing strategies with the greatest potential to attract and deploy capital will be provided with funds from CEFIA to use for credit enhancements, such as interest rate buy-downs, the development of third party insurance, or other strategic financing support mechanisms.
The Clean Energy Financial Innovation Program is part of CEFIA's overall effort to develop innovative financial approaches for residential clean energy deployment, which will allow a transition away from current subsidy models.
"We are looking to partner with financial institutions to identify, address and overcome current market barriers. We believe private sector institutions will bring a dynamic perspective to the table in terms of attracting and deploying capital. New financial strategies we can put in place will support our efforts to bring cheaper and cleaner energy to our state" said Bryan Garcia, President of CEFIA. "As an organization that created the first public sector supported residential solar lease financing program in the country, we invite our private sector partners to collaborate with us in developing the next financial innovation."
The United States Department of Energy's Lawrence Berkeley National Laboratory (LBNL) provided support to CEFIA in the development of this RFP. Merrian Goggio Borgeson of LBNL stated, "The staff at LBNL looks forward to continuing to work with CEFIA and the State of Connecticut in an effort to develop innovative financing opportunities to further support the adoption of clean energy. These efforts can lead to financing solutions that serve as replicable and scalable models for deploying clean energy - renewable energy and energy efficiency - in the residential sector throughout the United States."
Prospective Applicants should review the Clean Energy Financal Innovation Program RFP and other Program documents, which contain detailed information regarding the application and evaluation processes, solicitation eligibility, eligible energy projects, and potential areas of financial innovation. The RFP and Program materials are located at http://www.ctcleanenergy.com/AboutCCEF/CEFIAOpenRFPs/tabid/622/Default.aspx.
An optional "pre-submittal" conference call will be held on April 25, 2012. This call is an opportunity for Applicants to learn more about the Program. CEFIA, its advisors, and other relevant Program Partners will be in attendance. To participate in this conference call, please RSVP via email to Mary Vigil at Mary.Vigil@ctcleanenergy.com.
Applications under this round of the RFP must be submitted no later than 5:00 p.m. EST, May 30, 2012. Any questions or comments regarding the RFP should be directed via email to Dale Hedman, CEFIA Director of Clean Energy Deployment at firstname.lastname@example.org.