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Office of Climate Action and Resilience pitches revolving fund to finance energy and resilience projects
Summary
City climate staff proposed a revolving fund to pay for energy efficiency, solar and electrification projects and to reinvest verified savings to finance more projects.
Staff from the Office of Climate Action and Resilience walked the committee through a proposal to create a climate and efficiency revolving fund that would finance facility energy upgrades, solar projects and other investments that generate verified savings, with those savings recycled into the fund to finance future projects.
Rohan (Office of Climate Action and Resilience) framed the proposal by citing converging factors — constrained dedicated funding for sustainable building upgrades, declining costs for renewables and battery storage, federal tax incentives under the Inflation Reduction Act, and pressure on the city general fund. He described how other jurisdictions operate revolving funds: San Antonio seeded an energy fund with ARRA dollars…
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