News & Events

Original Release: NYPA solar pr rel Aug 25 2021 TOWN OF EAST HAMPTON159 Pantigo RoadEast Hampton, New York 11937PETER VAN SCOYOC (631) 324-4140Supervisor pvanscoyoc@ehamptonny.govFOR IMMEDIATE RELEASEAugust 25, 2021 East Hampton Town’s First Solar Installation With Battery Storage System Will Generate Renewable Energy, Store Excess Power for Use or Sale During Periods of Peak Energy DemandTown collaborates with New York Power Authority to install rooftop system on Parks Department building East Hampton Town’s First Solar Installation With Battery Storage System Will Generate Renewable Energy, Store Excess Power for Use or Sale During Periods of Peak Energy Demand Town collaborates with New York Power Authority to install rooftop system on Parks Department building East Hampton Town’s first solar-plus-battery storage system is being installed on the roof of the Parks Department building at the Town Hall campus at 159 Pantigo Road in East Hampton. The 75-kilowatt solar PV (photovoltaic) system will generate clean, renewable power and charge a 137 kilowatt-hour battery that will allow the Town to sell excess power to the grid when demand and prices are at their peak. The Town, in collaboration with the New York Power Authority (NYPA), selected New York-based Solar Liberty and its financing partner on the project, Inclusive Prosperity Capital, through a competitive process to develop the solar-plus-battery storage system. NYPA recommended the system’s installation as part of East Hampton’s ongoing efforts to move toward a 100 percent renewable energy goal. The project also supports New York State’s aggressive solar and energy storage targets to fight climate change, which include the state generating 70 percent of its electricity from renewable sources by 2030. Other East Hampton Town buildings were also considered for solar and energy storage, but it was determined that the Parks Department was the best candidate for an immediate installation. This will be the first solar-plus-battery storage system installed at a town facility. Solar panels are already producing power at the Montauk police precinct and at the Lamb building shared by the East Hampton Office of Housing and Community Development and Town Trustees in Amagansett. “Not only will this project reduce carbon emissions and make the Town Hall campus more resilient, it is also estimated to save taxpayers at least $10,000 a year between bill credits and reduced electrical costs,” said East Hampton Town Supervisor Peter Van Scoyoc. The solar PV system will be financed through a 20-year Power Purchase Agreement (PPA) with Inclusive Prosperity Capital, with no upfront costs to the town. A PPA also enables the Town to benefit from cost offsets provided by tax credits. The battery was added at no cost to the Town through support from NYPA.“NYPA is proud to partner with the Town of East Hampton to help achieve its ambitious renewable energy goals,” said NYPA President and CEO Gil C. Quiniones. “This significant solar and storage solution illustrates the potential for energy and financial savings for public facilities and will lead the way for other municipalities.” It’s estimated that the power produced by the solar PV system in one year avoids the amount of emissions produced by the consumption of 7,000 gallons of gasoline, burning 68,000 pounds of coal, or the annual electricity usage of 11 homes. This project will expand the Town’s current solar portfolio, which in addition to the solar PV systems on the Lamb building and the Montauk police precinct includes the independently operated Accabonac solar farm and the Town’s Solarize East Hampton campaign, which offers discounts to residents and local businesses on solar installations. Visit EnergizeEH.org for more information.

Administrator Regan Recognizes Outgoing Chair Joanne Throwe August 12, 2021 Contact Information EPA Press Office (press@epa.gov) WASHINGTON – ​Today, U.S. Environmental Protection Agency (EPA) Administrator Michael S. Regan announced the selection of Kerry E. O’Neill as the chair of the Environmental Financial Advisory Board (EFAB). She succeeds Joanne Throwe, whose six-year term as a board member is ending, including nearly four years as chair. “At EPA, climate change is a top priority, and we know this crisis can be an opportunity to create good paying jobs, boost our economy and build back better. That’s why the work of the EPA Environmental Financial Advisory Board is so important, to ensure that our work delivers these benefits for the American people, especially for underserved communities overburdened by pollution,” said EPA Administrator Michael S. Regan. “I’m thankful for Joanne Throwe’s leadership and years of successful service to the board, and I’m looking forward to Kerry O’Neill bringing her experience and advice on climate impacts, community development, and clean energy finance.” The 32-member EFAB is a chartered federal advisory committee that provides feedback and advice to the Agency on ways to lower costs and increase investments in environmental and public health protection. O’Neill joined the board in June 2020 and was selected for a two-year term as chair. O’Neill and the other members of EFAB are drawn from all 10 EPA regions and hail from 17 states and the District of Columbia. “EPA is answering the call to tackle the most significant issues facing our people and our planet today, and the Environmental Financial Advisory Board is going to provide the expertise on financial solutions needed for success. We need to meet this moment at the scale required, including leveraging public-private partnerships, and with strategies that ensure our most vulnerable communities aren’t left behind,” said EFAB Chair, and Inclusive Prosperity Capital Chief Executive Officer, Kerry E. O’Neill. “I’m honored to be asked to serve as the chair of a board whose members are the most exceptional thinkers and leaders in their fields.” Outgoing Chair Joanne Throwe recently led the board in examining financial options for municipal stormwater infrastructure, small remote community wastewater system improvements, and lead risk reduction. “The Environmental Financial Advisory Board provides the federal government with an unprecedented resource, and it’s been an honor to serve on the board over the past six years,” said Joanne Throwe, President of Throwe Environmental. “EFAB’s expert analysis and policy recommendations will be needed more than ever as the country moves aggressively towards fortifying its environmental infrastructure and natural resources.” About Kerry E. O’Neill Kerry E. O’Neill is the chief executive officer of Inclusive Prosperity Capital Inc., a nonprofit investment fund that was spun out of the Connecticut Green Bank in 2018 to scale up impact for underserved communities and underinvested markets across the country. Inclusive Prosperity Capital operates at the intersection of community development, clean energy finance, and climate impact using a collection of products and strategies that match capital supply with project demand through partners on the ground. Prior to joining IPC, O’Neill led the residential energy financing programs at the Connecticut Green Bank, a state entity that works with private-sector investors to create low-cost, long-term sustainable financing for clean energy to maximize the use of public funds. Her work at the Connecticut Green Bank has given her insight into the institutional challenges – and opportunities – associated with clean energy investing for underserved communities. O’Neill earned a B.S. in computer science and engineering from MIT and a M.S. from NYU Tisch School of the Art’s Interactive Telecommunications Program. About Joanne Throwe Joanne Throwe is president of Throwe Environmental LLC and has over 25 years of experience in financing environmental and natural resource activities. She has experience in climate finance, stormwater management, green infrastructure, and public-private partnerships. She served as deputy secretary of the Maryland Department of Natural Resources from 2015 to early 2019, managing the day-to-day operations of over 1,300 employees and a budget exceeding $270 million. From 2009 to 2015, Throwe was the director of the Environmental Finance Center (EFC) at the University of Maryland, managing all aspects of EFC operations providing environmental finance technical assistance to communities. Additionally, prior to the EFC, she worked for several federal agencies. Background on EFAB Established in 1989, the EFAB is a chartered federal advisory committee that is convened by the agency to provide expert advice on environmental financing approaches from state and local governments, financial service companies, industry sectors and nongovernmental organizations. EFAB’s work focuses on lowering the cost of environmental protection, removing financial and programmatic barriers that raise costs, increasing public and private contribution in environmental facilities and services and building state and local financial ability to comply with environmental programs. EFAB members are selected to serve on the board based on the EFAB charter, which seeks to achieve balance and diversity in terms of workplace sector, geographic location, gender, ethnicity, and stakeholder perspective. EFAB members may serve up to a total of six years. The board’s designated federal officer is EPA Acting Region 7 Administrator Edward H. Chu. For more information on EFAB, visit EPA’s Water Finance Center online. A list of EFAB members is available online.   Link to Original article here: https://www.epa.gov/newsreleases/epa-announces-kerry-e-oneill-chair-environmental-financial-advisory-board

BY MARK WOLFE, OPINION CONTRIBUTOR — 08/13/21 11:30 AM EDT THE VIEWS EXPRESSED BY CONTRIBUTORS ARE THEIR OWN AND NOT THE VIEW OF THE HILL © iStock Achieving President Biden’s goal to move the nation to a net-zero energy economy by the year 2050 will require a massive change in how we as a nation produce and use energy. Essentially this will mean that the amount of greenhouse gases produced will be equal to the amount we remove from the atmosphere. This represents an important and necessary goal to end climate change. Reaching net-zero by the year 2050 will not be simple or quick and will require significant investments in expanding solar and wind production, closing coal plants and retrofitting the commercial and residential built environment, representing possibly the single greatest investment opportunity since the telecommunications revolution. One tool that has been recommended by the administration has been tested in 22 states: a national green bank. The purpose of the bank is not to take deposits and make mortgages but rather to specifically make loans and provide incentives to facilitate private investment into low-carbon, climate-resilient infrastructure. Green banks focus on investments where the private sector has been reluctant to provide low cost capital because of concerns about perceived risk, new technologies that have not been in the market long enough to meet strict reliability criteria for lenders, smaller deal sizes, and areas with complicated financing structures like low income housing. The administration’s proposal, called the “Clean Energy and Sustainability Accelerator”, would begin with $27 billion and use those funds to increase the investment of capital in the key green energy sectors: renewable energy, grid technology, residential and commercial building efficiency, industrial decarbonization, clean transport and agriculture. Funding for the accelerator will have a multiplicative impact on total real-world investment in clean energy, because the accelerator will leverage private capital, recycle its own capital for repeat investment of the same dollars, and then borrow additional private capital to expand its own lending capacity. Some have argued that the green bank will duplicate existing work being conducted by the private sector. While this might be the case for large corporations with deep pockets and resources, it’s less true for smaller companies that have more limited resources to capitalize their investments. Also, buildings that house low income residents often have multiple layers of financing and few banks have the expertise to tailor specific solutions to provide green financing for those complicated situations. While there is strong congressional support for a national green bank, there is still no guarantee that the administration’s proposal will be enacted. The House has passed the plan, while the Senate is still considering the “National Climate Act” proposed by Sens. Chris Van Hollen (D-Md.) and Ed Markey (D-Mass.). Both the House and Senate bills would capitalize their version of the green bank with $100 billion, which has been projected to generate $880 billion in clean energy investments. To address low income concerns, the House, Senate and the administration green bank proposal all specify that 40 percent of the funds invested by the federal government must be deployed in low-income and disadvantaged communities. Many of these communities suffer from high energy burdens due to history of neglect in their building infrastructure, which has led to deferred maintenance and older, less energy-efficient buildings. The result is that low-income families pay amounts two to three times higher than the median energy burden across the country. The accelerator would help to support reducing energy burdens by investing in energy efficiency, renewable energy and weatherization thereby reducing energy use and the carbon generated to create the energy used in the first place. A national green bank would also support state-based green banks that have been leading the way in using innovative transaction structures to channel private investment into low-carbon projects in such areas as commercial and residential energy efficiency retrofits, rooftop solar photovoltaic systems and municipal-level, energy-efficient street lighting. One only has to look as far as Tesla to see how government-financing can address green financing needs that the private sector isn’t ready to meet. In 2010 Tesla applied for and received a $465 million U.S. Department of Energy loan from the Advanced Vehicle Manufacturing Loan Program to build a new factory to launch its Model S car. After the initial success of the car, Tesla was able raise capital in the private marketplace and pay back the government loan. The loan also helped to set the stage for the broader development and success of electric vehicles. On a more local level, the Connecticut Green Bank used tailored financing strategies to ensure that low-income homeowners and communities of color have the same access to rooftop solar and efficiency as homeowners with more resources — and with it the benefits of reduced energy burdens and healthier homes. Inclusive Prosperity Capital was spun out of the Connecticut Green Bank and now acts as a resource to other green banks to scale these and other strategies to scale nationally, including a partnership with N.Y. Green Bank to drive green investment in underserved communities in New York State and partnerships with green banks in Michigan, Texas, Washington, D.C. and Philadelphia focused on affordable housing and nonprofits. Another example is the Florida Solar and Energy Loan Fund, a Florida-based green bank that provides low-interest rate and long-term financing for comprehensive home upgrades meant to lower high electricity bills caused by nearly year-round air conditioning. The financing covers the cost of roof upgrades, which are essential to both hurricane resilience and rooftop solar installation. The net result is that overall household expenses are reduced, even including the loan repayment, because the increased home resilience lowers insurance premiums. While a national green bank will not solve the problem of climate change on its own, it is a key piece of the solution to helping finance the transition to a carbon-free economy and including low-income families and communities in the process. The President has requested, the House has acted and now the Senate must pass similar legislation to guarantee that the U.S. has a national green bank to help finance the technologies and

Last month, Womble Bond Dickinson launched “Doing Well by Doing Good,” a thought leadership series focused on ways in which environmental and social governance impact business. The following article summarizes “Green Finance is Infrastructure: The $100 Billion Opportunity for Green Banks,” a presentation in the series. Click here to view the on-demand presentation (registration is required). About the Speakers Damon Burns, President and CEO, Finance New Orleans Mike Dow, Partner, Womble Bond Dickinson (US) Eli Hopson, Chief Executive Officer, DC Green Bank Alex Kragie, Director, American Green Bank Consortium Viktor Osasu, Associate, Womble Bond Dickinson (UK) Kerry O’Neill, Chief Executive Officer, Inclusive Prosperity Capital As is the case with any business endeavor, enacting ESG (Environmental, Social, Governance) change requires money. Green banks seek to finance the ESG movement by harnessing the power of private capital to address pressing global problems. Green banks are typically nonprofit organizations that use public capital to raise private money for ESG goals. “We go where private lenders aren’t stepping into – and we bring them with us,” Kragie said. The goal isn’t to compete with private lenders but to work with them and help facilitate investment in essential areas that aren’t being served sufficiently. Green Banking: A New Approach to Long-Standing Challenges So what makes the green banking concept different? “One concept of green banks is this public-private partnership,” O’Neill said. “We also are mission-oriented.” Many green banks address climate change or environmental challenges, while others also address financing inequalities by providing capital to underserved communities. Hopson calls this latter mission “inclusive prosperity” and says green banks are “filling these gaps in the market.” For example, Finance New Orleans sees green banks as a way to reinvent a city hard-hit in the past two decades by Hurricane Katrina, the Gulf of Mexico oil spill, and, most recently, the COVID-19 pandemic. Finance New Orleans has provided mortgage financing for low and moderate-income families for more than four decades. In 2019, Finance New Orleans became a green bank, expanding its focus to include such climate change initiatives as energy efficiency, stormwater management, and green infrastructure projects for homeowners, businesses, and local governments. The organization converted to a green bank to help the city meet goals set out in a 2015 climate plan by providing a needed financing vehicle. “We see becoming a green bank as an opportunity to deliver a substantial amount of capital into needed areas,” Burns said. “This is a chance to reinvent New Orleans.” DC Green Bank works with building owners, capital lenders, business owners, and contractors. But it also has a community-focused component, working with houses of worship, health and education institutions, nonprofits, and more to make immediate building improvements and energy systems replacements and upgrades. Recently, the DC Green Bank has made its second solar energy and green building loans and is looking into stormwater retention efforts to reduce flooding and water pollution, as well as electric public transportation. Hopson said the organization wants all of the District’s residents to benefit from its investments. Inclusive Prosperity Capital, a non-government-sponsored green bank, describes its purpose in part as “engaging with communities impacted most by climate change.” The green bank provides capital for green energy improvements in multifamily and single-family housing, commercial buildings, and government facilities and has particular experience in the solar energy space. Interest rates for green bank loans are similar to those offered by traditional banks, but they are available to finance projects that other lenders may have rejected. The organization or product would need to meet the goals of the particular bank (e.g., climate change or serving underrepresented communities). The Growth – and Potential – of Green Banking Green bank members of the American Green Bank Consortium have made approximately $7 billion in investments in the past decade. Kragie said that for each $1 in public funds spent by its members, $3 in new private investment is generated. He hopes the concept can expand to become more national in scope, with the federal government taking a partnership role (a step that is more likely than ever to happen in today’s political and social environment_. Legislation currently before Congress, H.R. 806, would create the Clean Energy & Sustainability Accelerator, described by the Coalition for Green Capital as an independent, nonpartisan nonprofit finance entity that will operate as the U.S. national green bank. It will use public funds to mobilize more private investment to accelerate the deployment of clean and resilient infrastructure in every community in the United States. It also will have a Start-up Division, which will provide technical assistance and start-up funding to states and other political subdivisions to establish green banks in those states and political subdivisions where such banks currently do not exist. The Accelerator would start with a $100 billion federal investment, and supporters say it would generate $463 billion in total public-private investment within the first four years. As currently envisioned, the Accelerator would seek investment and procurements in renewable energy, energy storage, transportation, transmission, resiliency, efficiency, reforestation, agriculture, and industrial de-carbonization. It would target 40 percent of its funding to communicates with the greatest need for jobs. A national green bank would provide nationwide coverage in an industry that currently is widespread but operates mainly at the state and local levels. According to the Coalition for Green Capital, 14 states have green banks, and 19 more are in development. More than a dozen states – including populous states like Georgia and Texas – have yet to form a green bank. Kragie said the good news for the industry is that the concept of a national green bank has bipartisan support. Progressives are drawn to the focus on climate change, while fiscal conservatives appreciate the market-based approach to investing. “It is a heck of a lot easier when we are advocating something that many people want,” he said. Green banking  is also well underway in the UK. According to Osasu, one of the most significant developments is the UK government’s recent announcement of   the formation of a national infrastructure bank which will

Inclusive Prosperity Capital’s tax equity partnership with Greenprint Capital, as well as a debt facility with the Connecticut Green Bank, will allow IPC to acquire, develop, construct, and operate distributed solar projects in underserved markets. Rocky Hill, CT, December 2, 2020 — Inclusive Prosperity Capital, Inc. (IPC), a mission-driven specialty finance organization working at the intersection of community development, clean energy finance, and climate impact is pleased to announce the closing of a tax equity partnership with San Diego-based Greenprint Capital, as well as a debt facility with the Connecticut Green Bank. Having launched these two partnerships, IPC is now able to acquire, develop, construct, and operate distributed solar projects throughout the United States.  IPC’s solar Power Purchase Agreement (PPA) provides direct financial savings to customers in underserved markets – small-scale commercial properties, houses of worship, affordable multifamily housing, and non-profits. IPC can be flexible to accommodate most commercial or community-scale customers. “Launching a solar PPA platform has been a major component of IPC’s strategy since our formation in 2018. Building on the many years in which our staff supported the Connecticut Green Bank’s solar PPA program in Connecticut, IPC is well-positioned to deliver energy-saving solar PPAs to customers who might otherwise be overlooked by traditional financiers. We are thrilled to be partnering with Greenprint Capital and Connecticut Green Bank to achieve this major milestone in IPC’s growth,” said Kerry O’Neill, IPC’s Chief Executive Officer. IPC’s first four solar projects are in Connecticut, acquired from the Connecticut Green Bank, and include two schools, an Islamic center and a Boys and Girls Club. The projects total 495 kW and are anticipated to save the customers approximately $20,000 in their first year of operation.  IPC’s first four solar customers include: • Boys and Girls Club of the Lower Naugatuck Valley – 127 kW Rooftop Project • Bridgeport Islamic Community Center – 75 kW Rooftop Project • The Country School – 107 kW Rooftop Project • Washington Montessori School – 186 kW Rooftop Project Bert Hunter, Connecticut Green Bank’s Chief Investment Officer noted, “IPC will be one of our key partners in continuing to serve the Connecticut solar market. With this latest round of financing, we are confident IPC has the tools needed to manage the solar PPA partnership throughout the state of Connecticut and beyond. We are eager to see IPC replicate and expand upon the success the Connecticut Green Bank has had in creatively de-risking projects to provide access to previously credit-challenged potential solar customers.” Antoine Bishara, Principal at Greenprint Capital, said, “IPC’s focus on de-risking solar projects in underserved markets is a great fit for Greenprint’s approach to tax equity investment.  We see Greenprint’s role in the market as leveraging our efficiency to lower financing costs and unlock the small and medium scale distributed solar market for tax investors. That efficiency is even more important when it results in lower PPA prices for important community organizations like IPC’s customers.” John D’Agostino, Director of Financing Programs at IPC said, “we are very excited about our first four projects in Connecticut and are grateful for the opportunity to serve four organizations whose missions align with our own.  The Solar PPA projects will help these customers continue to provide a wide array of services to their communities.  Greenprint’s nimble and efficient approach to tax equity financing is a major reason we’re able to make this possible.  This partnership will allow IPC to provide financing solutions to commercial and community solar developers as well as energy savings to their customers. We hope to remain long-term partners and bring the success we’ve achieved with Greenprint in Connecticut to IPC’s pipeline of solar projects throughout the country.” About Greenprint Capital: Greenprint is a professional advisory and consulting firm focused on structured tax credit and preferred equity investments in renewable energy projects. Greenprint and its financial partners invest in and support infrastructure development activities and seeks to serve all stakeholders involved About the Connecticut Green Bank: The Connecticut Green Bank was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation’s first full-scale green bank, its mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com. About Inclusive Prosperity Capital: Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit investment fund scaling clean energy financing solutions that channels investment capital to program partners in communities that need it most. As a spin-out and strategic partner of the Connecticut Green Bank, IPC is focused on scaling its work in Connecticut and expanding its successful model nationwide by accessing mission-driven capital and partnerships. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver Inclusive Prosperity.

08/05/2020 Contact Information:  EPA Press Office (press@epa.gov ) WASHINGTON (August 5, 2020) — ​Today, the U.S. Environmental Protection Agency (EPA) announced the 33 members of the Environmental Financial Advisory Board (EFAB). EPA welcomes 19 new and 13 returning members along with the incumbent Chair. The EFAB provides ideas and advice to the EPA administrator, EPA Regions and the agency’s programs on innovative ways to lower the costs of – and increase investments in – environmental and public health protection. “EPA values the insights provided by EFAB members, who bring a wealth of experience in finance and investment to the agency,” said U.S. EPA Administrator Andrew Wheeler. “I am grateful for their willingness to help us continue protecting public health and the environment using financially sound methods. I also thank the outgoing members for their many contributions to the work of the agency.” Established in 1989, the EFAB is a chartered federal advisory committee that is convened by the agency to provide expert advice on environmental financing approaches from state and local governments, financial service companies, industry sectors and nongovernmental organizations. EFAB’s work focuses on lowering the cost of environmental protection, removing financial and programmatic barriers that raise costs, increasing public and private contribution in environmental facilities and services and building state and local financial ability to comply with environmental programs. Following the agency’s request for EFAB nominations, EPA selected members for two- or three-year terms from a pool of more than 60 highly qualified candidates. Selections were made in accordance with the EFAB charter to achieve balance and diversity in terms of workplace sector, geographic location, gender, ethnicity, and stakeholder perspective. The Chairperson and members are drawn from all EPA regions and hail from 18 states. The 33 EFAB members and their affiliations are: Joanne Throwe, EFAB Chair (Incumbent), Throwe Environmental LLC, Bristol, R.I. Ashley Allen Jones, i2 Capital, Washington, D.C. Brent Anderson, RESIGHT, Littleton, Colo. (Returning member) Janice Beecher, Institute of Public Utilities, Michigan State University, East Lansing, Mich. (Returning member) Steven J. Bonafonte, The Metropolitan District of Hartford, Hartford, Conn. Angela Montoya Bricmont, Denver Water, Denver, Colo. Stacy D. Brown, Freberg Environmental, Inc., Denver, Colo. Theodore Chapman, S&P Global Ratings, Farmers Branch, Texas (Returning member) Zachary Davidson, Ecosystem Investment Partners, Baltimore, Md. Jeffrey R. Diehl, Rhode Island Infrastructure Bank, Providence, R.I. Sonja B. Favors, Alabama Department of Environmental Management, Montgomery, Ala. Jon B. Freedman, Water Technologies & Solutions, Charlottesville, Va. Phyllis R. Garcia, San Antonio Water System, San Antonio, Texas Edward Henifin, Hampton Roads Sanitation District, Virginia Beach, Va. (Returning member) Craig Holland, The Nature Conservancy, Arlington, Va. (Returning member) Craig A. Hrinkevich, Robert W. Baird & Company Inc., Red Bank, N.J. John L. Jones, New Mexico Rural Water Association, Albuquerque, N.M. Margot M. Kane, Spring Point Partners LLC, Philadelphia, Pa. George W. Kelly, Earth & Water Strategies, Denver, Colo. Cynthia Koehler, WaterNow Alliance, San Francisco, Calif. Colleen Kokas, Environmental Liability Transfer, Inc., Lahaska, Pa. Pamela Lemoine, Black & Veatch Management Consulting, LLC, Chesterfield, Mo. (Returning member) Eric Letsinger, Quantified Ventures, Chevy Chase, Md. James McGoff, Indiana Finance Authority, Indianapolis, Ind. (Returning member) Christopher Meister, Illinois Finance Authority, Chicago, Ill. (Returning member) Kerry E. O’Neill, Inclusive Prosperity Capital, Inc., Stamford, Conn. James (Tony) Parrott, Metropolitan Sewer District of Louisville, Louisville, Ky. (Returning member) MaryAnna H. Peavey, Idaho Department of Environmental Quality, Boise, Idaho Dennis A. Randolph, City of Grandview, Grandview, Mo. Eric Rothstein, Galardi Rothstein Group, Chicago, Ill. (Returning member) William Stannard, RAFTELIS, Kansas City, Mo. (Returning member) Carl Thompson, Infiltrator Water Technologies, Old Saybrook, Conn. (Returning member) David Zimmer, New Jersey Infrastructure Bank, Lawrenceville, N.J. (Returning member) Additional information about EFAB: https://www.epa.gov/waterfinancecenter/efab

IPC stands in support of Black Americans and all others across the nation who are protesting police brutality and systemic racism following the death of George Floyd in Minneapolis. Racial justice, environmental justice, and climate justice are inextricably linked – inclusive prosperity for all is not possible without addressing these issues collectively. The climate crisis cannot be solved without confronting the role of systemic racism especially in the environmental community. The negative impacts of racism fall disproportionately on Black Americans just as do the burdens of the climate crisis. Energy costs, negative health outcomes such as asthma and respiratory issues, and pollution are disproportionately higher in communities of color. Decades of disinvestment must be redressed. IPC commits to finding ways to step up our work with black and brown communities. We will continue to elevate the voices and the work of partners on the ground working to ensure clean energy is deployed in communities of color and fighting for a just transition to a new energy paradigm. We pledge to listen, learn and collaborate on investment solutions that bring the benefits of clean energy and inclusive prosperity to all. We acknowledge that we must improve the diversity of our staff, which will require the necessary work of self-reflection, changes and continuous improvement. We know a statement in and of itself doesn’t mean much. We hope to be judged by the partnerships we create, the work we do, and the results we deliver together with those in communities across the country fighting for racial and climate justice. Signed, Staff and Board of Inclusive Prosperity Capital  

Expands Access to Affordable, Clean Energy in New York State ROCKY HILL, CT, May 18, 2020 – Inclusive Prosperity Capital, Inc. (IPC), a mission-driven specialty finance organization working at the intersection of community development, clean energy finance, and climate impact is pleased to announce the closing of a $25 million transaction with NY Green Bank, a division of The New York State Energy Research and Development Authority (NYSERDA). The transaction will enable IPC to deploy capital into underserved clean energy and energy efficiency markets across its entire portfolio of products.  IPC’s products deliver savings on distributed solar PPAs and accessible rates and offerings on debt investments for single and multifamily residential properties as well as non-profit, commercial, municipal, institutional, and small infrastructure projects. Kerry O’Neill, CEO, IPC said, “IPC was created to scale clean energy deployment in the very markets that need it most by combining mission-aligned and market-rate capital into a unique impact investment platform. IPC is thrilled to take this approach in New York State by partnering with NY Green Bank to unlock energy savings, locally-driven economic development, and improved health outcomes in support of the NY’s policy goals. We’ll use this investment to forge new partnerships with developers and mission-aligned organizations across New York that drive capital into the very communities that are most in need of recovery.” A spin-out of the Connecticut Green Bank, the IPC team has deployed $450 million of clean energy projects in underinvested markets to date, including low-to-moderate income neighborhoods and underserved credits. IPC is leveraging this successful track record to expand into the New York State market and nationwide. The transaction with NY Green Bank marks IPC’s first investor for projects outside of Connecticut. It also leverages a catalytic $10 million guarantee from The Kresge Foundation. “IPC knows how to balance investor requirements with the capital needs of developers. This means we are uniquely positioned to scale impactful investments. The timing of this facility is significant, and IPC is primed to deliver critical investment into community and clean energy infrastructure projects,” said Chris Magalhaes, Chief Investment Officer, IPC. IPC’s custom fund platform and unique market offering is made possible through collaboration with key mission-aligned partners, including The Kresge Foundation, which has provided operating support and a well-structured credit enhancement that investors can leverage to extend impact without sacrificing on risk. Duane Morris LLP has been instrumental as IPC’s legal counsel for this $25 million credit facility, and in advising IPC on new market entry. Alfred Griffin, President, NY Green Bank said, “The financing provided by NY Green Bank to Inclusive Prosperity Capital will be used to advance projects that expand and ensure clean energy access for all communities in support of Governor Andrew M. Cuomo’s climate and clean energy goals. This transaction will help provide underserved communities with access to green, renewable resources, reducing carbon emissions, and delivering cleaner air across New York State.” IPC uses a partnering strategy to work with clean energy leaders and community development organizations across the US to identify investment opportunities. These opportunities span local, regional, and national markets. Despite the challenging economic times brought on by the Coronavirus – and in such an uneven manner – IPC believes that clean energy investment in underinvested neighborhoods should be part of the recovery efforts for communities hit the hardest.   About Inclusive Prosperity Capital: Inclusive Prosperity Capital, Inc. (“IPC”) is a not-for-profit investment fund scaling clean energy financing solutions that channels investment capital to program partners in communities that need it most. As a spin-out and strategic partner of the Connecticut Green Bank, IPC is focused on scaling its work in Connecticut and expanding its successful model nationwide by accessing mission-driven capital and partnerships. IPC operates at the intersection of community development, clean energy finance, and climate impact. We believe everyone should have access to the benefits of clean energy, helping to deliver Inclusive Prosperity.   About NY Green Bank: A division of NYSERDA, NY Green Bank is a state-sponsored, specialized financial entity working with the private sector to increase investments into New York’s clean energy markets, creating a more efficient, reliable and sustainable energy system in support of Governor Cuomo’s Green New Deal and New York’s Climate Leadership and Community Protection Act.  

US Department of Energy Funds CESA’s Efforts to Scale Up Solar for Low-and Moderate-Income Households   Montpelier, VT (October 3, 2019) – The Clean Energy States Alliance (CESA) will lead a wide-ranging initiative to accelerate the development of solar projects that benefit low-and-moderate-income (LMI) households and communities. The “Scaling Up Solar for Under-Resourced Communities Project” is being supported by a three-year funding award of $1.1 million from the US Department of Energy Solar Energy Technologies Office. The project team will focus on three distinct subsets of the LMI solar market: single-family homes, manufactured homes, and multifamily affordable housing. For the single-family homes component of the initiative, CESA will work with Connecticut Green Bank, Inclusive Prosperity Capital, Lawrence Berkeley National Laboratory, and PosiGen Solar to evaluate and promote a successful initiative that has brought solar to more than 2,500 Connecticut single-family homes, most of which are LMI. State agencies from across the country will be given the opportunity to join a working group where they will receive technical assistance and other support to consider adopting similar programs for their states. For manufactured homes, CESA, with assistance from representatives of the New Mexico Energy Conservation and Management Division, will examine the potential for using solar to power manufactured homes in different states, based on their housing stock, solar policies, geography, and the applicability of different possible technologies. State government agencies, rural electric cooperatives, municipal utilities, and other stakeholders will be encouraged to join a learning network to explore the potential for launching a pilot project or program for manufactured homes. The multifamily affordable housing component of the project will build on work carried out by Clean Energy Group (CEG) in conjunction with the Kresge Foundation. CEG and CESA will work with housing developers/owners and community development lenders to replicate and expand loan guarantee and other foundation program-related investment (PRI) models for solar and solar plus battery storage (solar+storage) projects for multifamily affordable housing. Principal objectives will be to increase community resilience and reduce energy costs for low-income households. CESA has worked actively on LMI solar more than five years. CESA Executive Director Warren Leon remarks that: “CESA is committed to helping state governments and other stakeholders implement solar in ways that provide meaningful benefits to under-resourced communities. The new grant from the US DOE solar office will enable us to significantly expand our outreach and assistance.” To carry out the new initiative and other work CESA is engaged in related to solar for LMI communities, two talented individuals with strong experience working on this topic have been added to the CESA staff. CESA Project Director Nicole Hernandez Hammer is a well-known environmental justice advocate, climate change expert, and sea-level researcher. A Guatemalan immigrant, she has worked to address the disproportionate impacts of climate change on under-resourced communities across the US. For the past year, she has been a consultant to the Rhode Island Office of Energy Resources, working primarily with community groups on LMI solar. She was a climate science and community advocate at the Union of Concerned Scientists and assistant director of the Florida Center for Environmental Studies, among other positions. She was recently recognized by NBC as one of the #NBCLatino20. Laura Schieb, CESA project associate, earned a JD at Vermont Law School, as well as an LLM in Energy Law with a Certificate in Climate Law. While at the law school, she was employed as a Global Energy Law Fellow, implementing projects at the Energy Law Clinic, including leading a team preparing a report on low-income solar ownership in Vermont. To learn about or to sign up for updates about the new Scaling Up Solar for Under-Resourced Communities Project, go to www.cesa.org/projects/low-income-clean-energy/scaling-up-lmi-solar/.   ###   About the Clean Energy States Alliance The Clean Energy States Alliance (CESA) is a national nonprofit coalition of public agencies and organizations working together to advance clean energy. CESA members—mostly state agencies—include many of the most innovative, successful, and influential public funders of clean energy initiatives in the country. CESA facilitates information sharing, provides technical assistance, coordinates multi-state collaborative projects, and communicates the achievements of its members. For more information, visit www.cesa.org.   About the Solar Energy Technologies Office The US Department of Energy Solar Energy Technologies Office supports early-stage research and development to improve the affordability, reliability, and performance of solar technologies on the grid. Learn more at energy.gov/solar-office.

Inclusive Prosperity Capital’s John D’Agostino was the recent guest on the Impact Lenders Podcast, the podcast for people and institutions using lending for good, to discuss IPC is bringing energy efficiency to community development. Listen to this podcast here.