With unprecedented drought conditions in California, and over allocated water resources in the west, compounded by expanding populations, water conservation is increasingly spilling over (forgive the pun!) into clean energy finance.
The connection is simple- both water and energy are essential to our way of life, and both are key players in the story of how climate change has and will impact our world. Currently we possess the technology, and the financial structures and resources to drastically reduce our energy and water consumption, and with the right political and financial will, we could solve both our energy and our water crises.
Here at HB&C, our focus has always been on the nexus of clean energy and finance, but increasingly, water is part of that conversation as well. Here are a few efforts we are working on currently, and how water fits into those:
PACE- Property Assessed Clean Energy. HB&C is working to guide a development Board on the implementation of a state-wide commercial PACE program for Colorado. The associated legislation contains a specific amendment to include water saving devices as eligible measures, we are excited to help Colorado’s largest buildings save both energy and water with PACE funded retrofits.
Multi Family- HB&C is working with one of the nation’s leading owners of affordable multi-family housing to help them offer a turnkey energy and water efficiency service to other affordable properties owners, both public and private. Under this business model, owners of multifamily properties would be able to acquire designed, built and financed efficiency improvements in this very specialized market, which is challenged by multiple owners and mortgages, split incentives between owner and tenant and government housing subsidy regulations.
Residential Finance- HB&C has worked to structure and bring financing into numerous residential energy upgrade finance programs, from Colorado to California to name just a few. Many of these are increasingly adopting water saving measures as ways to achieve both energy (think hot water) and water savings.