Thurs. March 22 1 pm Webinar: The SEU Model featuring John Byrne

[Steve Seuser]

For people interested in learning more about the potential of the DC Sustainable Energy Utility to play a much more central role in DC's energy future, here's a webinar on Thurs. March 22, at 1 p.m. with John Byrne, one of the drivers of the SEU movement in the U.S. and a force behind the creation of the Delaware SEU:  https://www3.gotomeeting.com/register/810340942

This is a free event.

Steve Seuser

Begin forwarded message:

From: Amy Bolten <amy.b...@scwa.ca.gov>

Date: March 20, 2012 9:02:55 AM EDT

To: steve....@gmail.com

Subject: Applied Solutions Upcoming Webinar: The SEU Model

Reply-To: amy.b...@scwa.ca.gov

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Upcoming Webinar     Sustainable Energy as an Infrastructure Investment: The SEU Model   March 22nd, 10am PDT/1pm EDT   The Sustainable Energy Utility (SEU) is a 21st century non-profit organization designed to serve our need for a low-carbon, efficient, renewables-sourced and economically robust energy services sector.  The concept of the SEU and its unique bond financing structure was first adopted by the State of Delaware in 2007 as an independent, non-profit organization to foster a sustainable energy future for the State.  Analysis at the Center for Energy and Environmental Policy (CEEP) of energy conservation programs throughout the U.S. finds that the SEU model achieves greater energy savings at a faster rate than traditional utility incentive programs.   Dr. John Byrne, who shares the 2007 Nobel Peace Prize with the authors and review editors of the Intergovernmental Panel on Climate Change (IPCC) and developed the SEU tool, will detail the SEU structure and function and be joined by Applied Solutions Executive Director Michelle Wyman to discuss the options for local governments to consider an SEU as significant option towards building a clean economy locally that includes cost and carbon savings through efficiency and the strong potential for increased job creation through the clean energy sector.  Webinar participants will receive an overview of the SEU model and the Foundation for Renewable Energy and Environment (FREE)'s Sustainable Energy Bond Program and learn how widespread adoption can help ensure a clean, safe and prosperous planet for future generations.    Space is limited.  Please click here to reserve your spot now.    For videos and materials from past webinars, please visit our website.     LOCAL GOVERNMENTS BUILDING A CLEAN ECONOMY

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[Matthew Slavin]

Steve,

Thanks for sending this. I plan to tune in with interest.

One concern I've had over the SEU model is that its voluntary, and voluntary EE programs have had a poor records of performance over the years overall. VT and DE have addressed this by enacting mandatory Energy Efficiency Resources Standards – this gives the SEU's there a great deal of market to work with. Oregon, which has established the Energy Trust of Oregon, similar to the SEU, also has enacted mandatory EERS.

In contrast, the District has not enacted mandatory EE standards to my knowledge (excepting appliances and new building energy code, which does nothing for increasing EE in existing buildings). I see this gap as a major impediment to the SEU's ability to achieve greatly increased building.

Of course, the proposed ECO is a straight line pathway to put rigour into the demand side of the EE/SEU equation. This was the ECO concept from day 1 - to reinforce the SEU mandates by creating a mandated market for the SEU's services.

Matt

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[Updike, William (DDOE)]

I would add that though the SEU is a very good model, the entire budget for the Delaware SEU is $30 million I think, and our DC SEU will eventually be up to $20 million.  We have a $1-3 BILLION challenge/opportunity for energy upgrades in the District, and the goals that we’ve set in the Energy Working Group both for energy efficiency and renewables is going to take a multi-billion dollar scale of Apollo Project proportions to get done.  This will only happen if the banks can be convinced of the value proposition of energy efficiency and renewable deployment, and the SEU, PACE team, and others are able to access the private capital markets (there are structural problems with the SEU currently that inhibits them from doing so, but there are folks working on that front).   We certainly need to have the regulatory structures in place to help fix the market failures on energy, but ultimately it is going to come down to the banks, which is one of the reasons why I like the idea of the Green Bank that Matt has been proposing.  Still though the Green Bank also won’t be enough--we will need the entire banking community to buy-in in order get the work done.

 

Bill Updike

Program Analyst

Government of the District of Columbia

Department of the Environment

1200 First Street, NE 5th Floor

Washington, DC 20002

(202) 535-1337 - Direct

green.dc.gov

 

 

 

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From: sustainabl...@googlegroups.com [mailto:sustainabl...@googlegroups.com] On Behalf Of Matthew Slavin
Sent: Tuesday, March 20, 2012 10:45 AM
To: Steve Seuser
Cc: Sustainable DC Energy
Subject: Re: [Sustainable DC Energy] Thurs. March 22 1 pm Webinar: The SEU Model featuring John Byrne

 

Steve,

Thanks for sending this. I plan to tune in with interest.

One concern I've had over the SEU model is that its voluntary, and voluntary EE programs have had a poor records of performance over the years overall. VT and DE have addressed this by enacting mandatory Energy Efficiency Resources Standards – this gives the SEU's there a great deal of market to work with. Oregon, which has established the Energy Trust of Oregon, similar to the SEU, also has enacted mandatory EERS.

In contrast, the District has not enacted mandatory EE standards to my knowledge (excepting appliances and new building energy code, which does nothing for increasing EE in existing buildings). I see this gap as a major impediment to the SEU's ability to achieve greatly increased building.

Of course, the proposed ECO is a straight line pathway to put rigour into the demand side of the EE/SEU equation. This was the ECO concept from day 1 - to reinforce the SEU mandates by creating a mandated market for the SEU's services.

Matt

On Tue, Mar 20, 2012 at 9:37 AM, Steve Seuser <steve....@gmail.com> wrote:

For people interested in learning more about the potential of the DC Sustainable Energy Utility to play a much more central role in DC's energy future, here's a webinar on Thurs. March 22, at 1 p.m. with John Byrne, one of the drivers of the SEU movement in the U.S. and a force behind the creation of the Delaware SEU:  https://www3.gotomeeting.com/register/810340942

 

This is a free event.

 

Steve Seuser

 

Begin forwarded message:

From: Amy Bolten <amy.b...@scwa.ca.gov>

Date: March 20, 2012 9:02:55 AM EDT

To: steve....@gmail.com

Subject: Applied Solutions Upcoming Webinar: The SEU Model

Reply-To: amy.b...@scwa.ca.gov

 

Having trouble viewing this email? Click here

 

Upcoming Webinar       Sustainable Energy as an Infrastructure Investment: The SEU Model   March 22nd, 10am PDT/1pm EDT   The Sustainable Energy Utility (SEU) is a 21st century non-profit organization designed to serve our need for a low-carbon, efficient, renewables-sourced and economically robust energy services sector.  The concept of the SEU and its unique bond financing structure was first adopted by the State of Delaware in 2007 as an independent, non-profit organization to foster a sustainable energy future for the State.  Analysis at the Center for Energy and Environmental Policy (CEEP) of energy conservation programs throughout the U.S. finds that the SEU model achieves greater energy savings at a faster rate than traditional utility incentive programs.   Dr. John Byrne, who shares the 2007 Nobel Peace Prize with the authors and review editors of the Intergovernmental Panel on Climate Change (IPCC) and developed the SEU tool, will detail the SEU structure and function and be joined by Applied Solutions Executive Director Michelle Wyman to discuss the options for local governments to consider an SEU as significant option towards building a clean economy locally that includes cost and carbon savings through efficiency and the strong potential for increased job creation through the clean energy sector.  Webinar participants will receive an overview of the SEU model and the Foundation for Renewable Energy and Environment (FREE)'s Sustainable Energy Bond Program and learn how widespread adoption can help ensure a clean, safe and prosperous planet for future generations.    Space is limited.  Please click here to reserve your spot now.    For videos and materials from past webinars, please visit our website.       LOCAL GOVERNMENTS BUILDING A CLEAN ECONOMY

 

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[Steve Seuser]

Bill,

Actually, it's the opposite scenario in the SEUs in DC and Delaware.  The Delaware SEU has a $3-4 million annual budget, but has effectively leveraged private bond financing of $73 million for energy efficiency improvements under contact with energy services companies, who guarantee financial performance as part of their contracts.  The $73 million bond financing package not only pays for all improvements (on a variable basis depending on the specific investment), it ends up saving participating buildings over $20 million in energy costs AFTER paying the costs of the energy investments.  

Steve Seuser

On Mar 20, 2012, at 11:07 AM, Updike, William (DDOE) wrote:

I would add that though the SEU is a very good model, the entire budget for the Delaware SEU is $30 million I think, and our DC SEU will eventually be up to $20 million.  We have a $1-3 BILLION challenge/opportunity for energy upgrades in the District, and the goals that we’ve set in the Energy Working Group both for energy efficiency and renewables is going to take a multi-billion dollar scale of Apollo Project proportions to get done.  This will only happen if the banks can be convinced of the value proposition of energy efficiency and renewable deployment, and the SEU, PACE team, and others are able to access the private capital markets (there are structural problems with the SEU currently that inhibits them from doing so, but there are folks working on that front).   We certainly need to have the regulatory structures in place to help fix the market failures on energy, but ultimately it is going to come down to the banks, which is one of the reasons why I like the idea of the Green Bank that Matt has been proposing.  Still though the Green Bank also won’t be enough--we will need the entire banking community to buy-in in order get the work done.

 

Bill Updike

Program Analyst

Government of the District of Columbia

Department of the Environment

1200 First Street, NE 5th Floor

Washington, DC 20002

(202) 535-1337 - Direct

green.dc.gov

 

<image005.jpg>

Steve Seuser

<image003.jpg>

Upcoming Webinar       Sustainable Energy as an Infrastructure Investment: The SEU Model   March 22nd, 10am PDT/1pm EDT   The Sustainable Energy Utility (SEU) is a 21st century non-profit organization designed to serve our need for a low-carbon, efficient, renewables-sourced and economically robust energy services sector.  The concept of the SEU and its unique bond financing structure was first adopted by the State of Delaware in 2007 as an independent, non-profit organization to foster a sustainable energy future for the State.  Analysis at the Center for Energy and Environmental Policy (CEEP) of energy conservation programs throughout the U.S. finds that the SEU model achieves greater energy savings at a faster rate than traditional utility incentive programs.   Dr. John Byrne, who shares the 2007 Nobel Peace Prize with the authors and review editors of the Intergovernmental Panel on Climate Change (IPCC) and developed the SEU tool, will detail the SEU structure and function and be joined by Applied Solutions Executive Director Michelle Wyman to discuss the options for local governments to consider an SEU as significant option towards building a clean economy locally that includes cost and carbon savings through efficiency and the strong potential for increased job creation through the clean energy sector.  Webinar participants will receive an overview of the SEU model and the Foundation for Renewable Energy and Environment (FREE)'s Sustainable Energy Bond Program and learn how widespread adoption can help ensure a clean, safe and prosperous planet for future generations.    Space is limited.  Please click here to reserve your spot now.    For videos and materials from past webinars, please visit our website.     LOCAL GOVERNMENTS BUILDING A CLEAN ECONOMY

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[larry martin]

Bill is correct about the need for leveraging bank capital to succeed - and Matt's observation about the weakness of an all voluntary approach has been borne out historically.  While I've been lured toward comfort that the market will demand energy alternatives and efficiency through higher fossil fuel prices - I'm not so sure that the market will provide this impetus sufficiently in the near term; and that we may need to push a little harder through mandatory programs.  I hate going there, but it may just be a practical reality.  Fortunately, efficiency and wind  are already cost competitive, and other technologies are getting close.  The DC SEU is at this point IS hobbled in critical ways that need to be addressed.  The main hurdle is the upfront costs associated with investments in efficiency and new installation of renewables

That is where the private capital is so key.  I'd like to observe that the Green Bank is one approach to helping support investment in efficiency, but that a DC Public Bank, modeled after the N.D. institution that has functioned admirably since the 1920s is another model that would also work - and has been embraced by the Sust. DC Green Economy workgroup.

Larry

[Matthew Slavin]

Not to beat a horse, but as I've written before, I am dubious regarding a People's bank. First, given past DC financial history (control board), I doubt Congress would allow this (especially after lobbied by commercial banks that would loose deposits). Second, if it came into being, I think it would degrade DC's credit rating. Third, it would require that taxpayers – not the FDIC – insure the bank against loss (as in the case with ND - currently the only state bank in the US) and I can't see District voters going for this exposure.

I think the ECO mandate is a necessity. Again, what bucks up the SEU in VT and DE and Energy Trust in Oregon is mandates. Whether a Green Bank or an SEU with direct bonding authority would better bolster leverage in generating investment capital is a point for discussion, although as I've suggested before, I think the Green Bank offers advantages.  But again, a point for discussion.

[Steve Seuser]

One of the top ideas in the Sustainable DC Green Economy working group is the DC Public Bank, which also came out in the overall Sustainable DC voting as one of the most popular ideas.  It would be a wholesale bank owned by DC government, operated independently, that would hold deposits of DC government agencies, make participation loans in partnership with local banks, and reduce the costs of banking services to DC government agencies.  It is modeled after the 93-year-old Bank of North Dakota, which has helped stabilize the state's economy through the recession, resulting in the lowest unemployment, home foreclosure, and bank failure rates in the country.  It also provides significant revenues for the North Dakota state budget, putting the North Dakota state government in a better financial position than most other state governments around the U.S.  Over 14 other states, including California, are currently considering establishing state banks.

How would  the DC Partnership Bank help us implement the recommendations of Sustainable DC? 

Investments: Provide a new pool of capital to help local banks make loans for Sustainable DC priority investments in partnership with the DC public bank

New Revenue: Generate a new ongoing revenue stream from public bank operations that can fund other Sustainable DC programs funded through the city budget

Reduced green infrastructure financing costs: Provide direct lending through the public bank for green infrastructure projects identified by Sustainable DC.  The interest charged on these direct loans flows directly back as bank revenue and is returned as profit to DC government to further finance green initiatives.

A fact sheet on the DC Partnership Bank is attached.

Steve Seuser

[Matthew Slavin]

Boy, I hate to go down his road again so will be brief.  ND state bank has nothing to do with low unemployment and few foreclosures in ND.  High agriculture prices and large employment in shale oil of recent years have ensured low unemployment and few foreclosures. SD, Nebraska, Iowa, Wyoming also have low unemployment, few foreclosures due to hi ag prices and oil/gas extraction and don't have a state bank.  State bank notwithstanding, North Dakota economy was devastated during the Great Depression due to bottom falling out of farm prices. If a case for a DC People's  Bank is to be made, I'd recommend not pointing to State Bank as being responsible for ND strong economy right now as it will get quickly shot down and prove embarrasing.

<image005.jpg>

Steve Seuser

<image003.jpg>

Upcoming Webinar       Sustainable Energy as an Infrastructure Investment: The SEU Model   March 22nd, 10am PDT/1pm EDT   The Sustainable Energy Utility (SEU) is a 21st century non-profit organization designed to serve our need for a low-carbon, efficient, renewables-sourced and economically robust energy services sector.  The concept of the SEU and its unique bond financing structure was first adopted by the State of Delaware in 2007 as an independent, non-profit organization to foster a sustainable energy future for the State.  Analysis at the Center for Energy and Environmental Policy (CEEP) of energy conservation programs throughout the U.S. finds that the SEU model achieves greater energy savings at a faster rate than traditional utility incentive programs.   Dr. John Byrne, who shares the 2007 Nobel Peace Prize with the authors and review editors of the Intergovernmental Panel on Climate Change (IPCC) and developed the SEU tool, will detail the SEU structure and function and be joined by Applied Solutions Executive Director Michelle Wyman to discuss the options for local governments to consider an SEU as significant option towards building a clean economy locally that includes cost and carbon savings through efficiency and the strong potential for increased job creation through the clean energy sector.  Webinar participants will receive an overview of the SEU model and the Foundation for Renewable Energy and Environment (FREE)'s Sustainable Energy Bond Program and learn how widespread adoption can help ensure a clean, safe and prosperous planet for future generations.    Space is limited.  Please click here to reserve your spot now.    For videos and materials from past webinars, please visit our website.     LOCAL GOVERNMENTS BUILDING A CLEAN ECONOMY

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[Updike, William (DDOE)]

Sorry Steve, I should’ve clarified—their initial approved bonding capacity was $30 million I believe.  I think that most, if not all, of the $73 million that they have now dedicated has gone to public buildings—is that correct?   Do you know if the $73 million is counting against Delaware’s debt cap?   That is one of the big challenges we have here in the District.  I’ve only tangentially followed what’s happening in Delaware, and would love to know more—thanks!

 

Bill Updike

Program Analyst

Government of the District of Columbia

Department of the Environment

1200 First Street, NE 5th Floor

Washington, DC 20002

(202) 535-1337 - Direct

green.dc.gov

 

[Matthew Slavin]

BTW - Not implying that I will campaign against a People's Bank or seek to shoot it down, although I'd enjoy a honest debate on the relative merits of the various financing vehicles in play.

Just suggesting to keep in mind that the concept will be readily open to criticism if efforts focus upon hanging a People's Bank hat on low employment/low foreclosures in ND.

Best,

Matt