Denver, Colorado, April 3, 2024 – Triple Bottom Line Foundation (TBL Fund), a national 501c3 nonprofit community development financial institution (CDFI), has received an award from the U.S. Dept. of Energy (DOE) for deploying innovative decarbonization financing solutions that go beyond current market practices.

TBL Fund received an award through the DOE’s Better Building Challenge for innovative green financing practices tailored to the multifamily affordable housing (MFAH) properties. Nationwide, there is a lack of financiers who understand energy financing (vs. traditional debt) which disproportionately impacts the MFAH market (a historically underserved market). To increase MFAH properties’ access to green solutions, TBL Fund provides a full suite of low-cost financing solutions, including Bridge Financing, Power Purchase Agreements, Energy Performance Contracts, Energy-as-a-Service, Leases, Tax Equity, and more.

“Financial Allies in the Better Buildings Challenge are industry leaders in financing energy efficiency and decarbonization. As a winner of a Climate Finance Innovator award, TBL Fund has demonstrated an innovative pathway to finance decarbonization that other organizations can learn from. Congratulations to this year’s winners,” said Carolyn Snyder, Deputy Assistant Secretary for Buildings and Industry at the U.S. Department of Energy.

“Serving the multifamily affordable housing niche market, in itself, distinguishes TBL Fund from other lenders,” said Ravi Malhotra, TBL Fund’s Founder and President. “This is a complex market and few lenders have cultivated the expertise to take it on.” Read more here

A cornerstone of the UK’s plans to slash the use of gas in home heating has survived a bitter backlash from the gas boiler sector.

Speaking in the House of Lords yesterday, energy efficiency minister Martin Callanan brought an end to months of speculation when he announced that a plan to ramp up heat pump installation targets would go ahead on April 1, despite intense lobbying.

In his comments, Callanan praised a July 2023 investigation by DeSmog, which revealed the UK’s largest gas boiler trade association, the Energy and Utilities Association (EUA), had paid a PR company to “spark outrage” about heat pumps in hundreds of articles and media appearances. Read more here

The state of California – by some estimates the fifth or sixth biggest economy in the world – has extended its run of reaching a peak of more than 100 percent renewables to 17 out of the last 18 days.

According to Stanford University’s Mark Jacobsen, the author of several landmark reports on how the world can switch to wind, water, and solar for its power needs, says the output from those sources has exceeded demand for between one quarter of an hour and six hours on those 17 days.

California’s 100 percent renewable peaks are driven by solar during the middle of the day – it still faces the challenge of how to deliver the rest of the capacity needed to meet that goal. Read more here

New Energy Program Funding for Disadvantaged Communities

The Department of Energy (DOE) announced that it is opening applications for the Communities Sparking Investments in Transformative Energy (C-SITE) funding opportunity. C-SITE will award approximately $18 million to implement municipally- or Tribal-led, high-impact clean energy projects in disadvantaged communities, energy communities, small- and medium-sized cities and towns, and Tribal communities. The program is focused on projects and programs at the local level that reduce energy use, create local jobs, and focus on benefits to disadvantaged communities. Eligible project proposals include building electrification, energy infrastructure upgrades, renewable energy, and more. DOE anticipates making up to 20 awards, ranging from $900,000 to $3,600,000. Complete applications are due by May 31, 2024, at 5:00 pm E.T.

DOE Funding to Support Clean Energy Technology on Tribal Lands

The DOE has announced $25 million in funding for Tribes, intending to strengthen Tribal energy sovereignty through local clean energy generation while increasing energy access, reliability, and security. Tribes may use the funds to:

• Install clean energy generating systems and/or energy efficiency measures for Tribal buildings.
• Deploy community-scale clean energy generating systems or community energy storage on Tribal lands.
• Install integrated energy system(s) for autonomous operation to power a single or multiple essential Tribal buildings during emergency situations or for Tribal community resilience.
• Provide electric power to Tribal buildings, which otherwise would be unelectrified.

Applications are due May 30, 2024, at 5 pm E.T.  Read more here