Development and Launch of Financing Program for Homeowners in Michigan
Michigan Saves received a $6 million credit enhancement grant to make capital for energy efficiency improvements more accessible within the residential sector. Because Michigan Saves was new to the space, they engaged HB&C to assist in design and implementation strategy of their new clean energy financing program.
HB&C began with an extensive evaluation of the Michigan Saves goals and designed a program that excelled within those priorities. This included drawing on HB&C’s extensive background knowledge of industry best practices as well as applying the lessons learned from similar programs around the country.
We led institutional outreach to connect Michigan Saves with potential sources of additional capital. By working with our client to gather banks and credit unions from around the state, we were able to educate them on the financing opportunity and make a final selection on credit unions for the program.
To make Michigan Saves a success, it had to be easy. Easy for homeowners to find the funding and easy for them to apply for funding. Our solution: support the homeowner from the beginning. We recommended our client establish a network of certified contractors to spread the word about Michigan Saves and give customers the initial information about how to apply for funding. When customers are ready to apply, they call a single number where a call center handles the financial in-take for loan applications. HB&C made this implementation easy for Michigan Saves as well by working to develop an RFP process for screening call centers and writing a script that the selected center would follow with applicants.
Since its launch, Michigan Saves has expanded its services into commercial lending and certified close to 2,000 renewable energy or energy efficiency upgrades. Michigan Saves Metrics as of February 2016
Harcourt Brown & Carey (HB&C) is a national consulting firm with unrivaled experience maneuvering the clean energy marketplace. We deliver energy efficiency finance solutions that work in the real world.