This article, from law firm Bricker & Eckler, is authored by Dylan F. Forchers.
The back-to-back announcements that two organizations – Joule Assets, Inc. and Kilowatt Financial – are launching separate $100 million funds for energy efficiency projects is an encouraging development for alternative energy finance, Greentech Media reports. Leading clean energy consumer finance company Kilowatt Financial’s program will let U.S. homeowners ”make energy efficient improvements to their home through 10 to 12 year unsecured loans of up to $30,000,” The Wall Street Journal reports. Described as a “landmark transaction,” the arrangement with Citi is to “facilitate a securitization of the pool of loans into the capital markets, and thereby help establish a secondary market and scale energy efficiency activity,” the article said. In addition, power-reduction project financing company Joule Assets established the Energy Reduction Assets Fund, which will “aggregate portfolios of projects using software that identifies values and risks without having to negotiate with every individual contractor,” according to Greentech Media. For more information, read this recent Bricker & Eckler publication on new vehicles for renewable energy project financing.
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Bricker & Eckler