HARTFORD, CT – August 7, 2024 — Commissioner Andrew N. Mais shared that the Connecticut Insurance Department, in collaboration with key partners, released a report on the pressing need for climate smart technology in affordable housing. The report, titled “Emerging Public Health Needs for Climate Smart Technology in Connecticut Affordable Housing,” underscores the critical importance of investing in backup power and stable indoor temperature solutions to protect residents who rely on Home Medical Devices (HMDs), especially those in vulnerable communities.
This initiative is backed by the Connecticut Green Bank, Clean Energy Group, The Yale Schools of Medicine and Public Health, and Operation Fuel, with funding from the Robert Wood Johnson Foundation, the Energy Storage Solutions program, and the U.S. Department of Energy’s Building Technologies Office.
An informational webinar on the report will be held on Tuesday, Oct. 1 pm EDT. To register for the webinar, please visit https://register.gotowebinar.com/register/132552064745234522.
Connecticut, like many parts of the country, is increasingly facing climate change-related extreme weather events, leading to grid outages and temperature-related emergencies. While hospitals typically have backup generators, most residential buildings do not. Power disruptions significantly affect individuals who depend on electricity for their HMDs, which are essential for managing medical conditions and ensuring independent living.
“As we face the growing challenges of climate change, we must prioritize the integration of climate-smart technologies in our affordable housing initiatives,” said Commissioner Mais. “Ensuring the safety and well-being of residents, particularly those dependent on home medical devices, is a responsibility we cannot overlook. By fostering innovation and leveraging public-private partnerships, including with the insurance and public health sectors, we can enhance the resilience of our communities and provide essential protections for our most vulnerable populations. The Connecticut Insurance Department is proud to support this crucial work and remains committed to advancing sustainable, resilient housing solutions for all.”
“We spoke with close to 100 people across the state, hearing firsthand from people who rely on home medical devices and those who care for them, about their experiences and concerns related to power outages” said Annie Harper, PhD and Assistant Professor of Psychiatry at the Yale School of Medicine. “By listening to those most affected, we learned both about the challenges they face, and about solutions that will work for them.”
“As demand for emergency energy assistance grows every year, it is essential that low- and moderate-income residents benefit from emerging energy technologies,” said Roxanna Booth, Interim CEO of Operation Fuel. “Ensuring that families have access to power all year, especially during increasingly common extreme weather events, is an essential component of our state’s just energy transition.”
“Affordable housing providers are uniquely positioned to improve health outcomes in the event of a power outage,” said Marriele Mango, Project Director at Clean Energy Group. “By equipping their facilities with resilient power systems (solar+storage), providers can ensure that even their most vulnerable residents, including those reliant on electricity for medical needs, have access to basic but necessary services during an emergency, like outlets to charge medical devices and refrigeration to store medication.”
“This report underscores the intersection between energy resilience and health. In a season where many geographies are experiencing record high temperatures, it’s critical that we focus on policies and solutions that will keep people safe and make buildings more operationally efficient,” said Kimberlee Cornett, Director of Impact Investments for the Robert Wood Johnson Foundation.
“This project has provided us greater insights into addressing the challenges of increasing resilience for those living with home medical devices in multifamily affordable housing,” states Bryan Garcia, President and CEO of the Connecticut Green Bank. “Through the investment in and deployment of climate smart technologies, in partnership with the banking, insurance, and healthcare industries, and state and federal incentives and financing, including the Inflation Reduction Act, we can improve the lives of those residing in vulnerable communities.”
Key Report Findings:
- Many residents depend on multiple HMDs for critical health needs, including dialysis machines, ventilators, oxygen concentrators, CPAP machines, and electric wheelchairs.
- Residents often face financial strain due to high energy costs associated with running multiple HMDs.
- Residents employ various strategies in preparation for and during outages, such as stocking up on supplies, using alternatives for refrigeration, and relying on social networks or emergency services for support.
- Power outages cause significant anxiety and stress among residents, exacerbating their health and safety concerns. Where housing facilities have plans in place to support residents in case of power outages and communicate those plans effectively, residents feel less anxious.
Key Report Recommendations:
- Broaden the definition of HMDs to include all devices critical for health management, mobility, and communication.
- Individual residents should receive alerts to prepare for power outages.
- Include health aides and nurses in planning efforts due to their on-the-ground experience with HMD users.
- More resilient buildings would reduce the burden on emergency services and hospitals during outages.
- Solutions must consider both physical health and emotional distress caused by power outages.
- Housing providers should develop and communicate detailed emergency plans to all residents.
- Buildings should provide common areas powered by backup energy sources for residents during short outages.
- Encourage property managers to share best practices and strategies.
- Utilize available local, state, and federal incentives and financing to implement climate smart technologies.
- Foster collaboration between healthcare, insurance, public, and philanthropic sectors to fund climate smart technology investments.
Investing in climate smart technology for affordable housing is crucial to ensure the safety and well-being of residents who rely on HMDs. By enhancing the resilience of these buildings, Connecticut can better protect its vulnerable populations and reduce the strain on emergency services during extreme weather events.
Connecticut Insurance Department highlights urgent need for Climate Smart Technology in Affordable Housing
/in Community Solutions, NewsHARTFORD, CT – August 7, 2024 — Commissioner Andrew N. Mais shared that the Connecticut Insurance Department, in collaboration with key partners, released a report on the pressing need for climate smart technology in affordable housing. The report, titled “Emerging Public Health Needs for Climate Smart Technology in Connecticut Affordable Housing,” underscores the critical importance of investing in backup power and stable indoor temperature solutions to protect residents who rely on Home Medical Devices (HMDs), especially those in vulnerable communities.
This initiative is backed by the Connecticut Green Bank, Clean Energy Group, The Yale Schools of Medicine and Public Health, and Operation Fuel, with funding from the Robert Wood Johnson Foundation, the Energy Storage Solutions program, and the U.S. Department of Energy’s Building Technologies Office.
An informational webinar on the report will be held on Tuesday, Oct. 1 pm EDT. To register for the webinar, please visit https://register.gotowebinar.com/register/132552064745234522.
Connecticut, like many parts of the country, is increasingly facing climate change-related extreme weather events, leading to grid outages and temperature-related emergencies. While hospitals typically have backup generators, most residential buildings do not. Power disruptions significantly affect individuals who depend on electricity for their HMDs, which are essential for managing medical conditions and ensuring independent living.
“As we face the growing challenges of climate change, we must prioritize the integration of climate-smart technologies in our affordable housing initiatives,” said Commissioner Mais. “Ensuring the safety and well-being of residents, particularly those dependent on home medical devices, is a responsibility we cannot overlook. By fostering innovation and leveraging public-private partnerships, including with the insurance and public health sectors, we can enhance the resilience of our communities and provide essential protections for our most vulnerable populations. The Connecticut Insurance Department is proud to support this crucial work and remains committed to advancing sustainable, resilient housing solutions for all.”
“We spoke with close to 100 people across the state, hearing firsthand from people who rely on home medical devices and those who care for them, about their experiences and concerns related to power outages” said Annie Harper, PhD and Assistant Professor of Psychiatry at the Yale School of Medicine. “By listening to those most affected, we learned both about the challenges they face, and about solutions that will work for them.”
“As demand for emergency energy assistance grows every year, it is essential that low- and moderate-income residents benefit from emerging energy technologies,” said Roxanna Booth, Interim CEO of Operation Fuel. “Ensuring that families have access to power all year, especially during increasingly common extreme weather events, is an essential component of our state’s just energy transition.”
“Affordable housing providers are uniquely positioned to improve health outcomes in the event of a power outage,” said Marriele Mango, Project Director at Clean Energy Group. “By equipping their facilities with resilient power systems (solar+storage), providers can ensure that even their most vulnerable residents, including those reliant on electricity for medical needs, have access to basic but necessary services during an emergency, like outlets to charge medical devices and refrigeration to store medication.”
“This report underscores the intersection between energy resilience and health. In a season where many geographies are experiencing record high temperatures, it’s critical that we focus on policies and solutions that will keep people safe and make buildings more operationally efficient,” said Kimberlee Cornett, Director of Impact Investments for the Robert Wood Johnson Foundation.
“This project has provided us greater insights into addressing the challenges of increasing resilience for those living with home medical devices in multifamily affordable housing,” states Bryan Garcia, President and CEO of the Connecticut Green Bank. “Through the investment in and deployment of climate smart technologies, in partnership with the banking, insurance, and healthcare industries, and state and federal incentives and financing, including the Inflation Reduction Act, we can improve the lives of those residing in vulnerable communities.”
Key Report Findings:
Key Report Recommendations:
Investing in climate smart technology for affordable housing is crucial to ensure the safety and well-being of residents who rely on HMDs. By enhancing the resilience of these buildings, Connecticut can better protect its vulnerable populations and reduce the strain on emergency services during extreme weather events.
Connecticut Green Bank and OCOsink empower commercial building owners to make energy efficiency improvements
/in Building Solutions, NewsNew partnership combines the benefits of C-PACE financing with OCOsink’s process to simplify the creation of complex projects with an increased return on investment
Hartford, CT (August 1, 2024) – The Connecticut Green Bank announces a new partnership with OCOsink, a West Hartford-based energy consultant, designed to help commercial building owners develop and manage projects that will increase their energy efficiency and achieve their energy goals, while allowing them to focus on their core business needs. By leveraging OCOsink’s Energy Program Facilitation (EPF) services, building owners are empowered to make improvements as complex energy concepts are translated into actionable projects with measurable results. This comprehensive solution is a cost-effective way to professionally engineer and manage energy efficiency projects, while taking advantage of the benefits of C-PACE financing. Building owners who take advantage of EPF services could be eligible for interest rate reduction when they use C-PACE financing.
“Buildings have been increasingly expensive to operate, due to rising utility rates and maintenance costs. Our process provides owners with the resources and framework to make impactful energy efficiency upgrades, transforming energy audits into comprehensive energy projects,” said DJ Plis, Founder and Managing Director of OCOsink. “Our goal is to make decarbonization accessible and to ensure long-term benefits for our clients and the environment.”
OCOsink’s EPF services are value-driven and tailored to each property’s unique needs. The process includes project development, engineering and procurement, implementation oversight, and performance assurance.
“We understand the challenges property owners face when trying to address complicated energy efficiency projects and their need for these improvements to be cash flow positive,” said Alysse Lembo-Buzzelli, Director of Program Development and Origination at the Green Bank. “Designing projects is a major pain point for owners interested in making changes but are uncertain how to get started. Our partnership with OCOsink solves this problem by providing assistance from development through completion and performance assurance for energy efficiency projects.”
With C-PACE financing, building owners can cover up to 100 percent of the energy improvement costs with terms up to 25 years repaid through a voluntary benefit assessment. Projects financed through C-PACE are often cash flow positive in year one. Projects that utilize EPF services through OCOsink will be eligible for a reduced interest rate through the Green Bank. This interest rate reduction will offset the cost of EPF services, while also resulting in better financial return on investment for building owners.
Learn more about EPF services and C-PACE financing, please visit www.ctgreenbank.com/EPF.
Enko Chem grows their commitment to clean energy
/in Building Solutions, C-PACE, Customer StoriesJuly 2024 Newsletter
/in Newsletters, NewslettersGreen Bank launches their second green liberty offering, announces enhancements to c-pace, annual awards, and more
Connecticut Green Bank Seeks New Lending Partners to Continue Growth of Successful Smart-E Loan Program
/in Home Solutions, Investment Solutions, NewsLaunched in 2013, Smart-E helps residents improve the energy efficiency, resilience, and safety of their homes through a network of participating lenders and vetted contractors
Hartford, CT (July 22, 2024) – The Connecticut Green Bank today announced that it is seeking lenders interested in joining their Smart-E loan program through an open Request for Qualifications. Since 2013, the Smart-E loan has helped nearly 9,000 homeowners complete projects worth more than $170 million that have generated renewable energy, improved the efficiency and comfort of their homes, or removed health and safety hazards. The program is currently expanding to reach more homeowners across Connecticut, especially low-and-moderate income homeowners and communities of color, while increasing the program’s offerings into resilience and potential opportunities created by the Greenhouse Gas Reduction Fund (GGRF).
The Smart-E loan is offered through participating lending partners and a vetted network of local contractors who install the projects. For lenders, the Smart-E loan provides a no-cost way to engage with new and existing customers through a product that has proven to have few delinquencies and charge-offs. The Green Bank supports the program with marketing and technical assistance as well as a loan loss reserve.
“As the program continues to grow and evolve, serving diverse homeowners and contractors across the state, we are excited to add new credit unions, local and regional banks, and other lenders to our existing core group of partners,” said Bert Hunter, Executive Vice President and Chief Investment Officer of the Green Bank.
A virtual information session for lenders will be held on Wednesday, August 7 at 1 pm. Register here.
The RFQ can be found here.
Connecticut Green Bank Launches Award-Winning 11th Green Liberty Notes Offering
/in Investment Solutions, NewsWith investments starting at $100, the 11th offering makes energy efficiency upgrades more accessible for small businesses and organizations
Hartford, CT (July 9, 2024)—CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, announced the launch of its award-winning 11th offering today. The crowdfunding campaign, now in its third year, is made possible by Raise Green, an online marketplace for impact investing.
“We’re grateful for the opportunity to continue making much-needed energy efficiency upgrades more accessible to small businesses and organizations across Connecticut,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “Our 11th Green Liberty Notes offering will help bolster Connecticut’s clean energy transition and support the state’s local economy. By investing, you’re not just making a financial choice; you’re helping to build a more resilient future for our communities.”
Investments in the Green Liberty offering support Eversource’s SBEA program, which enables small businesses in Connecticut to lower their energy expenses through efficiency enhancements and interest-free loans. Due to the climate benefits associated with the SBEA program, Kestrel has reviewed and verified this Green Liberty offering for its environmental attributes. The Green Bank’s partnership with Amalgamated Bank has deployed over $100 million of private capital into the SBEA program.
Notes may be purchased through the Raise Green online platform without a broker, starting with a $100 minimum. The previous Green Liberty offering was the eighth consecutive offer to surpass its maximum limit for a raised amount, so interested investors are encouraged to act quickly.
Featuring a low minimum investment, a short one-year term, and an easy online purchase process, Green Liberty offerings were created to be accessible to nearly anyone who wants to invest. In total, more than $2.7 million has been raised from Connecticut citizens and buyers from 35 states nationwide. Over 60% of original investments have been $1,000 or less, with more than half of the investors being Connecticut residents.
Investors from the seventh round of Green Liberty Notes (now reaching the end of its term) can reinvest their principal and interest in this latest offering. Anyone who invested in the seventh round and invests in this offering, either by reinvesting their principal and interest or by investing a different amount, will receive an interest rate “boost” as a thank-you for their early support of the Green Liberty Notes.
The Connecticut Green Bank was recognized by the Clean Energy States Alliance with the 2024 State Leadership in Clean Energy (SLICE) Award for its leadership, innovation, and effectiveness in advancing clean energy technologies through the Green Liberty Notes.
“We are deeply honored to receive CESA’s prestigious State Leadership in Clean Energy award for our Green Liberty Notes Program,” said David Beech, Senior Manager of Clean Energy Finance, who accepted the Award on behalf of the Green Bank at CESA’s annual meeting. “This award is a testament to the hard work and dedication of our team and partners who are committed to advancing clean energy solutions and making them more accessible.”
For more information about this investment opportunity, please visit invest.ctgreenbank.com.
Running Brook Farms Plants the Seeds of Sustainability
/in Building Solutions, C-PACE, Customer StoriesConnecticut Green Bank wins 2024 State Leadership in Clean Energy Award from Clean Energy States Alliance (CESA)
/in NewsJune 26, 2024, Montpelier, VT – The Clean Energy States Alliance (CESA), a national nonprofit coalition of public agencies working together to advance clean energy, is pleased to announce the recipients of the 2024 State Leadership in Clean Energy Awards. Since 2009, the biennial Leadership Awards have recognized outstanding state programs and projects that have accelerated the adoption of clean energy technologies. The four winners were chosen by an independent panel of distinguished judges and were evaluated based on leadership, innovation, cost-effectiveness, and replicability.
“The Clean Energy States Alliance was founded on the principle that states are the driving force behind this country’s clean energy transformation,” said CESA Executive Director Warren Leon. “CESA’s State Leadership in Clean Energy Awards recognize state innovation and accomplishments and share best practices so that creative programs in one state can spread to others.”
This year’s awards were presented in Chicago, IL on June 3 to the Connecticut Green Bank for its Green Liberty Notes Program. This program was developed following the Green Bank’s highly successful Green Liberty Bonds The Notes program provides small-dollar investors with the opportunity to support and benefit from clean energy development. It is the first one-year maturity designated green bond offered via a crowdfunding campaign, with an easy online process that doesn’t involve a broker. Investments start at $100 and are capped at $25,000, with priority given to smaller investments.
David Beech, center, accepts the SLICE Award from the CESA team.
This innovation makes it possible for everyone, regardless of income, to invest in Connecticut’s clean energy transition. Like other savings instruments, such as certificates of deposit, a competitive market rate of interest is paid at maturity (the previous offering was between 5-5½ percent). To date, more than $2 million in investment has been raised through the notes to support energy efficiency retrofits for small businesses. According to the judges: “The Connecticut Green Bank’s Green Liberty Notes Program is innovative and opens the rewards of the clean energy economy to a new community, extending the benefits so everyone can participate. The threshold to entry is low and the return on investment is good. Other states could adopt this highly replicable and cost-effective program.”
The other three winners were the California Energy Commission (CEC), the Maryland Energy Administration (MEA), and Massachusetts Clean Energy Center (MassCEC).
The five judges who donated their time to assess the programs nominated by state agencies across the country were Michael Brower, Clean Energy Venture Group; Greg Dierkers, U.S. Department of Energy; Deb Perry, International City/County Management Association (ICMA); Autumn Proudlove, North Carolina Clean Energy Technology Center; and Joan White, Solar Energy Industries Association. While CESA appreciates the time and expertise provided by the judges to this process, the judges’ participation in no way implies their respective organizations’ endorsements of these programs.
In July, CESA will release a report on the State Leadership in Clean Energy Award (SLICE) winners that will highlight each of these programs with a case study. The report will be posted on CESA’s website at https://www.cesa.org/projects/state-leadership-in-clean-energy/2024-awards. This webpage will also contain information and registration links for a webinar series featuring the program managers of these exemplary programs. The webinars, which will take place in the summer and fall of 2024, will be free to attend and open to the public.
###
About the Clean Energy States Alliance (CESA)
The Clean Energy States Alliance (CESA) is a leading US coalition of state energy agencies working together to advance the rapid expansion of clean energy technologies and bring the benefits of clean energy to all. Established in 2002, CESA is a national, member-supported nonprofit that works to develop and implement effective clean energy policies and programs. CESA’s members include many of the nation’s most innovative, successful, and influential implementers of clean energy policies. CESA facilitates the expansion of state clean energy policies by championing renewable energy, pioneering energy storage solutions, promoting energy equity, and enhancing resilience. For more than two decades, CESA has played a pivotal role in transitioning the US towards accessible, sustainable, clean energy solutions. Learn more at www.cesa.org.
The Town of Manchester will save more than $100,000 annually through seven solar systems.
/in Community Solutions, Customer StoriesSwitch to Geothermal Reduces Heating Costs and Brings in AC
/in Customer Stories, Home Solutions, Smart-E