FINANCING FOR GREEN BUILDING AND ENERGY EFFICIENCY MAKES INCREMENTAL GAINS

Access to financing continues to challenge the green building movement. The Environmental Defense Fund provides an excellent discussion of these challenges in its recently released whitepaper entitled Show Me the Money – Energy Efficiency Financing Barriers and Opportunities.  Overcoming these challenges over the long term will require sustained commitment by the lending and appraisal communities, among others.  There are, however, three recent developments specifically addressed to the issue of green building and energy efficiency financing which signify some positive movement.

The first of these is the launch on May 31 of an energy efficiency improvement initiative coined “Green Refinance Plus”.  The program, jointly administered by FHA and Fannie Mae, aims to make available additional financing proceeds to owners of older multi-family affordable housing properties to support the installation of green systems and appliances.  The goal of the program is to reduce both energy use and greenhouse gas emissions and generate contemporaneous savings on utility bills. Read the rest of this entry »

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