OSU Sustainable Energy Revolving Loan Fund

Transcription

1 OSU Sustainable Energy Revolving Loan Fund Student Sustainability Initiative OSU Sustainability Office Brian Laird Brandon Trelstad OHESC 2013

2 SERLF Creation Began in FY10 Previously purchasing RECs exclusively Created from student interest in decreasing OSU s energy consumption Created by the Student Sustainability Initiative Fee Board after researching other models

3 SERLF: The Basics SERLF is a student program that provides a local source of low interest financing to accelerate sustainable energy projects on campus. It is a simple OUS inter-fund loan. Eligible project types include: Solar hot water Solar electric Energy conservation and efficiency Biomass, biofuels, etc?

4 SERLF: The Basics Current interest rate is 2.6% Fund currently capitalized with $300,000 Minimum loan amount is $5,000 with no maximum Loan term of approximately 5 years (negotiable) Must have a calculable estimated payback Combined with the Billion Dollar Green Challenge to grow fund to $1M

5 OUS Interfund Loans Relatively simple accounting procedure to move money from one University System account to another For the purposes of this policy, a loan is defined as a movement of funds between institutions or between funds within an institution with a definite plan to repay the money within a specified period of time. Requires interest be charged at 2% above Oregon Short Term Fund rate (0.6%)

6 RLF Forms Application Agreement Closeout Instructions

7 SERLF Process 1. Applicant discusses project with SSI Fee Board member and/or Sustainability Office and, if needed, Facilities Services Design and Construction 2. Applicant submits application (process support from SO) 3. SSI Fee Board evaluates application and Board and Applicant agree on loan parameters via Loan Agreement 4. Applicant checks in with D&C to confirm project feasibility at funded amount 5. Money is transferred to Applicant/Recipient as per Loan Agreement 6. Recipient executes project, including securing all remaining funding (if applicable), managing contracting/review issues and other project details 7. Recipient provides periodic progress reports to Board, as outlined in Loan Agreement 8. Upon project completion, Recipient and Board sign Project Closeout Form, noting changes to project that affected savings or project success

8 Scoping RLF Projects Challenge of funding feasibility studies to determine loan amount (SDL example) Some simpler projects may be more formulaic (solar electric) Projects can take a long time to develop, but student fees review process is annual continued and incremental progress should be demonstrated Challenging to develop loan demand within student fee funded and general funded areas of campus. Need long term plans in place via energy manager or sustainability office Payback may not align with debt service Political issues

9 SERLF Example: Salmon Disease Lab

10 Political Challenges with OSU s RLF Should it even exist? Underutilization Loaning student fees Differing perspectives on what it should fund Student fee funded vs. E&G funded buildings Pressure for finding new funding sources outside of student fees May be challenged to get administration to follow through on the $100,000 commitment

11 Find us Sustainability Office: Student Sustainability Initiative: