Colorado

Colorado Clean Energy Fund

GREEN BANK FEATURES

Bank Model

Private/Non-profit

Bank Scope

Statewide

Year Est.

2018

Political Landscape

Democratic Trifecta

Initial Funding

Legislative Funding

New Instit.

Yes

Implement. Process?

Incorporated as a 501(c)(3) nonprofit, then received initial funding from the State of Colorado in 2021 after the passage of Senate Bill 21-230 and its signing by Colorado Governor Jared Polis.

Reporting

N/A

More Info

  • The Colorado Clean Energy Fund (CCEF) was born out of a three-year collaboration among the Colorado Energy Office (CEO), the Department of Energy (DOE) and the Coalition for Green Capital (CGC).
  • CCEF was incorporated as a Colorado non-profit and former Colorado Governor John Hickenlooper announced the formation of the fund in December 2018.
  • CCEF is based on the Green Bank operating model successfully deployed in other states, but it is customized to address the unique challenges to financing clean energy projects in Colorado. -spent the last 18 months developing its critical go-to-market strategy, products, and business model for the Fund
  • Colorado began its exploration of the Green Bank with a study funded by a competitive grant from the U.S. Department of Energy’s State Energy Program. The Colorado Energy Office (CEO), CGC, and other partners explored the viability of various creation pathways and determined that a nonprofit model for Green Bank operations was the most promising. CGC incorporated a nonprofit called the Colorado Clean Energy Fund (CCEF) to act as the state’s Green Bank. Colorado Governor John Hickenlooper then announced CCEF as the state Green Bank in December 2018

FOCUS

A portfolio of loan products to help residential, commercial, industrial, agricultural, municipal, affordable housing and nonprofit borrowers to adopt clean energy solutions

APPROACH

Under the programs created, CCEF engages contracts and lenders to equitably expand access to green solutions. They help applicants find contractors and connect them with a partner lender.

GOALS

Prioritize underserved and vulnerable communities, Alleviate energy burden, Maximize green energy, Reduce greenhouse gas emissions. products and programs address gaps between Coloradans and loan availability or approval, giving everyone equal access to the funding they need to make clean energy improvements in their homes and businesses

Residential Project Example: Colorado RENU provides Easy Access to Energy Upgrades for Homeowners and Contractors with easy and affordable options to achieve energy upgrades by offering low-cost, long-term financing for energy efficiency and renewable energy improvements. Loan Details:
  • Loan Amount: Up to $75,000
  • Term: Up to 20 years; no money down
  • Rate: Low, fixed interest rate
  • Repayment: Monthly principal and interest payments; no prepayment penalties
Things it can finance:
  • Windows
  • Energy-efficient Appliances
  • Insulation
  • Water Heater
  • Financing list can be found here
Commercial Project Example: CCEF recently completed a large loan towards a historic school renovation project in Brush, Colorado. The Fund was motivated to help catalyze energy efficiency upgrades for the project, known as Brush Central Village, as the site will ultimately provide affordable housing units in an area of the state that currently has a limited supply. Things it can finance:
  • Light Fixtures
  • High Efficiency Water
  • Heating System
  • Energy Efficiency Windows
SUN Solar Co-op Solar Equity Loan: Colorado Clean Energy Fund is collaborating with Solar United Neighbors (SUN) to support SUN’s Colorado-based Solar Co-op programs to provide a Solar Equity Loan. CCEF is able to assist participating Solar Co-op homeowners with low-cost financing for rooftop solar. Ex. Homeowners earning less than 100% of the area median income. Things it can finance:
  • Energy Audit Costs
  • Renewable Energy Feasibility Study Costs
  • Engineering & Design Expenses
  • Construction & Installation Costs
  • Labor & Equipment
  • Program, Permit & Closing Fees

PRODUCTS AND PORTFOLIO

CONTACT INFORMATION

WEBSITE: Click Here HQ ADDRESS: Denver West Business Park EMAIL: Only through a portal on their website PHONE: (970) 275-8482 FACEBOOK: No LINKEDIN: Yes TWITTER: Yes INSTAGRAM: No TIKTOK: No NEWSLETTER: Yes BLOG: No