Articles With "Lending" Tag

Bank of America's $20B, Green Residential Traction, + Daylight-Savings Tips (WIR)

Week in Review
  1. Bank of America Announces $20 Billion Environmental Initiative – BofA announced a $20 billion initiative to support the growth of environmentally sustainable business activity to address global climate change. Bank of America’s ten-year initiative encourages development of environmentally sustainable business practices through lending, investing, philanthropy and the creation of new products and services.
  2. Residential Green Building Slow to Gain Momentum – The major homebuilders, who account for 80 percent of all homebuilding activity in the nation, face a unique challenge in implementing green building on a widespread scale. Many have added energy-saving features and experimented with environmentally friendly materials but have not yet been able to sign on a critical mass of buyers willing to pay more for them.
  3. Easy, Eco-friendly Ways to Put Those 21 Extra Hours of Evening Daylight to Good Use This Spring – Tomorrow, the entire nation will spring forward three weeks early, gaining an extra 21 hours of evening daylight. Since energy conservation is the driving force for the early time change, Lowe’s is encouraging homeowners to utilize these hours wisely with some simple, green projects that would make Mother Nature smile.

Don’t forget to spring forward tonight. 

Climate Change Legal Practice, Green Building Lending, Texas Geothermal, + Green Sans LEED (WIR)

Week in Review
  1. The Law Firm of Holland & Hart Announces New Global Climate Change Practice – The firm is the first and only law firm based in the Rocky Mountains to organize a practice group concentrating on this rapidly emerging area of law and policy.  Holland & Hart’s Global Climate Change Practice Group consists of attorneys who counsel clients on the climate change aspects of energy and natural resources development, industrial energy use, regulatory compliance, renewable energy and energy infrastructure projects, corporate disclosure and governance, carbon markets, litigation, and government relations.
  2. New Resource Bank Aims to Make it Easier to Build Green – A new banking program here aims to encourage developers and investors to start green building projects by offering financial incentives like providing more money at a lower cost, higher loan-to value, and lower interest rates.
  3. Texas Issues First Lease for Geothermal Energy Exploration and Development along Gulf Coast – Texas has awarded the state’s first lease for geothermal energy production to Ormat Technologies, Inc., which plans to explore the renewable energy’s potential along seven Gulf Coast counties.  The company paid $55,645, or $5 an acre, for the right to explore 11,129 acres for pockets of hot water and steam under the ocean floor, the General Land Office announced Tuesday.
  4. Building Greener and Cheaper than LEED – While many argue over the costs and benefits of requiring LEED-certification, some affordable housing developers have shown that building green doesn’t require following the program’s recommendations.

Entrepreneurial New Resource Bank + Green Lending Residential Solar Systems

New_resource_b Sustainable business entrepreneurship requires sophisticated financiers, so I wanted to let the Jetson Green readers know about an innovative, newly-founded banking institution called "New Resource Bank."  They are "financing sustainable resources in [their] community."  The bank was started by a group of entrepreneurs with expertise in the banking industry, and their start-up story is revealing:  240 founding shareholders subscribed to $24.75 M of the bank’s stock offering, and the community backed it as well bringing the initial subscription amount to $35 M–that’s a 60% over-subscription.  This made it one of the largest initial capitalizations for a start-up bank in Northern California.  Talk about suppressed demand for sustainably-minded banking institutions and investments!

They are all about green.  The bricks + mortar bank was certified LEED-CI Gold.  Plus, they announced an alliance with SunPower Corp. (company that manufactures high-efficiency solar cells and panels) to provide one-step financing of residential solar energy installations.  Under the program, customers work out a home-equity type loan that allows monthly payments on the solar installation while they save money on their electricity bills.  Factoring in governmental incentives, and if there are local incentives, you could end up with a mad case of energy and financial independence.  Typical financing is for 25 years on a system ranging from $20,000-40,000 (before federal, state, + local incentives).  If you’re a Californian, after the Governator’s program kicks in, there should be no reason not to go solar.  Tip via GreenBiz.

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