The Vermont-based Clean Energy Group (CEG) has released a report about new financing options for the installation of resilient power projects. Resilient power technologies, such as solar photovoltaic power with energy storage, could ensure against the devastating consequences of power outages from future disasters, the report says.
The paper, ‘Financing for Clean, Resilient Power Solutions,’ provides an overview of several clean energy finance strategies for low-cost, long-term financing of resilient clean energy technologies. CEG explores how conventional financing options – such as bond financing, credit enhancement, and public and private ownership structures – can be applied to resilient power projects.
The report identifies financing tools that can be especially helpful to low-income communities, which CEG says need resilient power the most and suffer disproportionately from severe weather events. With resilient power applications, communities can shelter in place and are better able to withstand the potential harm from loss of electricity.
‘Clean energy technologies are now essential to community resilience,’ says Robert Sanders, CEG senior finance director and the author of the report. ‘Clean energy technologies can keep these systems running and keep people safe, but they won't be accessible without the financing needed to get them built and working to protect citizens of all income levels. Everyone deserves to have power protection in an emergency.’
The report is available here.
For more information on how renewable energy and storage can be combined to deploy resiliant energy systems, visit the Hybrid Energy Innovations event site here.