1 Green Jobs - Green New York Presentation for LIFE May 16, 2011 New York City Presented by NYSERDA

2 Agenda 1.Green Jobs-Green New York (GJGNY) Overview 2.Program Development and Implementation Strategy 3.Workforce Development 4.Sector Overview 3.Question & Answer

3 Statewide initiative established in Public Authorities Law October 2009 Goals: – Promote energy efficiency and energy conservation – Reduce energy consumption and costs – Reduce greenhouse gas emissions – Support sustainable community development – Create green job opportunities, including for emerging, unemployed and displaced workforce Overview of Green Jobs – Green New York

4 Overview of Green Jobs – Green New York (cont.) Funding: $112 million from the Regional Greenhouse Gas Initiative (RGGI) Target Participants: Residential, multifamily, small business, and Not-for-Profit property owners Features: No-cost and reduced-cost energy audits Innovative financing through revolving loan fund Aggressive workforce development and job placement Outreach by constituency-based organizations serving targeted communities

5 Program Development and Implementation Strategy Deliver through existing programs – Speed deployment – Reduce marketplace confusion Develop new financing strategies Give CBOs opportunity to work with stakeholders in targeting community benefits Expand on existing workforce development programs Leverage other training and job placement resources

6 Implementation Approach – Aggregation of households recruited by CBOs in targeted communities – Enable Community Benefit Agreements – Career pathways through community-based skills training, classroom, OJT, certifications – One-Stop Career Centers as a central resource

7 Workforce Development: Community Benefit Agreements Enter into contracts with CBOs and local contractors Local hiring, training, wage, benefit or other requirements Target women, minorities, low- income and those with barriers to employment Contractors to work with local One Stop Career Center

8 GJGNY: Phased Rollout GJGNY ComponentStatus 1-4 Family Homes No cost/ low cost audits & financing launched in November 2010 Multifamily Subsidized audits launched in September 2010 Financing expected in 2 nd quarter 2011 Small Business/ Not-for-Profit No cost/ low cost audits available January 2011 Financing expected in 2 nd quarter 2011 CBO OutreachRFP closed in February 2011 Workforce Development Multiple RFPs out or in development

9 Small Residential Sector Implemented through Home Performance with ENERGY STAR® Program

10 GJGNY New Program Features 1-4 Family Homes Sector No-cost/low-cost audits funded through GJGNY New financing options available through GJGNY Maximum GJGNY loan amount of $13,000 and minimum of $3,000, except $1,500 for Assisted Home Performance borrowers GJGNY Loan and HPwES incentives may be used together in market rate jobs Projects must achieve a Savings to Investment Ratio (SIR) greater than 1

11 No-cost/low-cost energy audits Available to homeowners with income under 200% - 400% AMI

12 50% Work Scope Subsidies for households with incomes less than 80% AMI NYSERDA pays for 50% of the cost of eligible measures, up to $5,000 subsidy for single-family home or $10,000 subsidy for two to four family home.

13 Low-Interest Loans Unsecured loan 5,10,15 yr loan term Interest Rate 3.99% - current rate under HPwES program/3.49% if borrower repays through auto pay

14 Standard Loans Credit score 640 or higher (680 or higher if self- employed for 2yrs or more; 720 or higher if self- employed less than 2yrs) Debt-to-income ratio < 50% No bankruptcy within last 7 yrs No outstanding collections, judgments or tax liens > $2,500

15 Alterative Loan Standards Energy bill payments must be current for two consecutive months during each of the last two years; No energy or mortgage payments more than 60 days late in the last two years; Debt-to-income ratio less than 55%; No bankruptcy, repossession, or foreclosure within the last seven years; No outstanding collections, judgments or tax liens greater than $2,500; and Current on mortgage payments for the last year

16 10% Incentives Customers are eligible to receive an incentive of 10% of the cost of the cost-effective work scope AND access to low-interest rate financing. OR Customers may choose to access utility rebates for eligible measures in lieu of NYSERDA’s 10% incentive AND access to low-interest rate financing.

17 Multifamily Sector Implemented through the Multifamily Performance Program (MPP)

18 MPP Process PLAN Select and hire a Multifamily Performance Partner Submit application and signed Terms and Agreement Attend a Scoping Session with NYSERDA Project Manager Review and approve Energy Reduction Plan prepared by Partner INSTALL 50% Completion Inspection Substantial Completion Inspection MEASURE Post construction benchmarking

19 New Program Features GJGNY funds are used for payment #1 New financing options available through GJGNY for multifamily projects are being finalized GJGNY financing will be eligible on the balance of the cost of the measures after the MPP incentives To be eligible for GJGNY financing, financed workscopes must achieve a Savings to Investment Ratio (SIR) of 1.0 or greater

20 Small Business / Not-for-Profit Sectors

21 Qualified Energy Audits – FlexTech Energy Audits – Utility or Private Sector Audits – Business Partners (not yet available) Expeditor Support Revolving Loan Fund Components of SB/NFP

22 Expeditor Function: – GJGNY funded to support customer from audit to implementation – Bridge across audit, implementation, & financing – Assist customer in understanding audit recommendations – Identify EEPS incentives (NYSERDA or utility) – Identify projects and amount eligible for loan fund Projected launch 2 nd half 2011 Expeditors

23 Revolving Loan Fund Plan: – GJGNY interest rate: 0.0% ; lender portion: market rate – Maximum GJGNY share: $26,000 – Loans originated by lenders statewide – Loan amount to be net of incentives Expected launch 2Q 2011 Financing

24 To Follow Up … Visit for more program information on Green Jobs – Green New Yorkwww.nyserda.org/GreenNY/ Visit “Green Careers” web site Visit for more information on Home Performance with ENERGY STAR GJGNY Incentiveswww.getenergysmart.org

25 Questions?