Retrofits for ENergy Efficiency Works (RENEW) provides project transparency and accountability, high-road tax-exempt lease financing and technical assistance solutions for energy conservation measures (ECMs) in municipal buildings.
RENEW’s Cleveland-Cuyahoga County pilot program is a joint effort of Emerald Cities Cleveland, Cuyahoga County Government, the Cleveland-Cuyahoga County Port Authority (conduit issuer of bonds), and Public Finance & Energy Advisors, LLC, a SEC and Municipal Securities Rulemaking Board (MSRB) registered Municipal Financial Advisor.
RENEW financing and technical assistance are available to public building owners outside of Cuyahoga County as well.
RENEW Financing and Technical Assistance offers:
- Projects that pay for themselves through guaranteed energy savings
- Lease-purchase financing (subject to appropriation) through the Cleveland Cuyahoga Port Authority and/or other participating issuing authorities that is “off-balance sheet” and is not a factor in statutory debt limitations
- No Debt Rating Agency impact as long as savings significantly exceed total costs
- Low Tax-Exempt interest rates
- Technical Assistance that provides “third party” measurement and verification of saving after installation
Based on ASHRAE Level 2 audits conducted for non-entitlement Cuyahoga County municipalities, over $25 million of ECM projects have been identified. Similar sized projects have been identified in entitlement communities as well.
- Be a municipal leader in energy efficiency
- Be fiscally responsible and reduce long-run building operating costs
- Accessing capital to finance eligible energy projects without eroding bond ratings
- Create local jobs in Northeast Ohio
- Reduce energy use and associated CO2 emissions
If you are a municipal employee, Sign-Up and receive the RENEW program guide and other materials.