Biofuels are among the promising solutions to our energy and climate problems, but fuel production projects are complex, and getting them off the ground requires savvy financing. New Resource is working with several clients on projects that illustrate the challenges and potential.
Tillamook County, home to the eponymous creamery cooperative, has over 25,000 cows—and those cows produce a lot of waste. But Farm Power Northwest is about to turn a problem into a solution. Using manure from 2,000 cows, its anaerobic manure digester will generate almost 1 megawatt of electricity—enough to power 600 to 700 homes.
New Resource Bank has partnered with San Bruno–based Belvedere Equipment Finance to create a solar-equipment leasing program for nonprofit customers that takes advantage of a grant program from the U.S. Department of the Treasury.
Getting their own solar power is something a lot of homeowners would like to do, but many lose interest when they see the upfront installation cost.
Enter SunRun, an up-and-coming San Francisco–based company that’s partnering with New Resource Bank to make residential solar systems affordable. SunRun’s pioneering business model offers homeowners power purchase agreements (PPAs), which let them get solar at a reduced or no upfront cost. They pay only a monthly bill for electricity use; SunRun installs and maintains the systems.
Sonoma-based Adam Capital Clean Energy Asset Finance is helping to fill what CEO Adam Boucher calls a “renewable-energy funding gap”—a financing void for small to midsized solar, wind and other renewable energy projects.
Property owners who invest in renewable energy upgrades often qualify for government incentives and utility rebates. However, many can’t get the financing needed to install the technology on properties larger than a single-family residence but smaller than a utility-scale commercial site. That’s where Adam Capital comes in.