This week several members of the commercial real estate industry participated in stakeholder meetings sponsored Senator Kevin de Leon (D – Los Angeles) chair of the Senate Select Committee on Energy Efficiency. The events were well attended by an array of groups including environmental and green building organizations, union representatives, commercial real estate, and policymakers from the Legislature, Governor’s Office, and regulatory agencies.
Much of the discussion focused on a recently release CA Public Utilities Commission Report entitled, “Energy Efficiency Financing in California; Needs and Gaps.”
As we have reported several times, under legislation passed two years ago (AB 758) state regulators are laboring to establish policy that will induce Zero Net Energy in all new commercial buildings in California by 2030, and 50% of existing buildings.
The report and meeting focused on ways that the State can accelerate the scope of commercial retrofits in California with regulatory reductions; incentives; and/or financing options.
Ideas being discussed range from “on-bill” financing, to energy service agreements, Commercial PACE programs, to utilizing public funds to form loan-loss reserves and/or other credit enhancing mechanisms, including the notions of loan guarantees and tax credits.
The commercial real estate industry must be involved in these discussions. You know your business and how to make these policy changes in a way that will allow our industry to climb out of this economic downturn. We will keep you updated as we continue to work with the Senator, the CEC and the CPUC, but ask that you read the report above and the one below (last story) and continue to provide input and be engaged.
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