The Greater Cincinnati Energy Alliance Wins 2012 CDFA Excellence in Energy Finance Award
CINCINNATI, OHIO – August 2, 2012 – The Council of Development Finance Agencies (CDFA) awarded the Greater Cincinnati Energy Alliance the 2012 Excellence in Energy Finance Award. The Energy Alliance will formally accept the award this evening in Washington, D.C. at the CDFA National Development Finance Summit.
The Energy Alliance, in partnership with the Cincinnati Development Fund, Inc. received the excellence award for its commercial Building Performance Program, which helps building owners in the Greater Cincinnati area identify ways to make their facilities more energy efficient.
The Energy Alliance utilizes public and private investments to offer market rate financing to program participants that wish to upgrade their building facilities with energy efficiency measures. Participants can qualify for loans between $100,000 and $1 million with competitive interest rates.
“Using our financing model, a program participant could take an energy efficiency loan for $125,000. Combine it with an incentive from the utility company, and the estimated payback can be 4 years or less. In fact, a monthly loan payment could be lower than their utility bill savings,” reflected Andy Holzhauser, Executive Director of the Energy Alliance.
Holzhauser explained that the finance model is attractive to private investors because it offers a low-risk entry into this emerging market.
“Our innovative community partnership with CDF gives us access to a huge pool of commercial buildings in the Cincinnati community – buildings that could see a drastic reduction in their monthly utility and operating costs if they were to install efficient equipment,” said Holzhauser.
For more details about the Building Performance Program visit http://www.greatercea.org.