A Funny Thing Happened on the Way to Finance Forum: the WHEEL Deal

by Casey Bell, Senior Economist and Finance Policy Lead

The moment we have been waiting for has arrived! The Warehouse for Energy Efficiency Loans (WHEEL) , a financing platform that will open the market for energy efficiency investment to institutional investors, is open for business. WHEEL acts as a virtual financial warehouse for relatively small individual loans, holding them until there are enough loans to attract attention from large investment houses. These transactions will potentially grow the market and make it easier for homeowners to find lower-cost loans for energy efficiency improvements.

Bonds are created for investors through a $100 million asset-backed securities medium-term note program that can be replenished and resold. The platform was formed by a public-private partnership consisting of collaborators from Citi, the Pennsylvania Treasury Department, Renewable Funding, the Energy Programs Consortium, the National Association of State Energy Officials, and the U.S. Department of Energy.

This news comes on the heels of several other secondary market transactions, and the announcement of Joule Assets’ $100 million fund for energy efficiency loan products. The influx of capital flowing in the right direction represents a turning point for the industry.

If you’d like to learn more about how the financial community intends to take advantage of this opportunity, and to expand customer uptake and access to hard-to-reach markets, you should attend ACEEE’s 2013 Finance Forum, where the theme will be “Building Momentum and Driving Demand.”

The program will feature the leaders that have been facilitating these groundbreaking transactions, including Citigroup, Renewable Funding, Kilowatt Financial, and Joule Assets, as well as lenders, utilities, policymakers, and clean tech companies that are driving investment in residential, commercial, and multifamily building sectors. (Just act fast: regular registration and special hotel rates are closing soon!)

To read more posts, check the ACEEE Blog: https://aceee.org/blog

Written by greenlivingguy

The Green Living Guy, Seth Leitman is a green living expert, celebrity and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and a Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow.