So how does an updated clean energy financing mechanism get received by a local engineering and environmental consulting firm’s resident expert on clean energy?
Positively. … At least that’s the take of Gail Lalla, a client manager at Middletown-based T&M Associates.
She has been monitoring C-PACE program implementation in New Jersey and other states and works with local clients that compare available opportunities for helping with their capital stack.
“This is a great pilot, I believe, to complement other financing strategies for private investors,” Lalla said. “It’s making it easier for investments in energy efficiency investments, water conservation and solar. It’s a positive opportunity and it’ll be interesting to see more legacy real estate developers and those newly looking at investments in energy efficiency look to take advantage of this alongside their other incentives that are available right now.”
The American Rescue Plan, the Infrastructure Investment and Jobs Act, and the Inflation Reduction Act, Lalla pointed to the entire acronym soup of federal programs that have opened up more incentives, credits and tax breaks for renewable and resilient building investments.
Of course, all of those programs, as well as those imposed on a state level, have been attached to the priorities of administrations that will switch hands after November’s presidential elections results and next year’s gubernatorial race.
So, returning to the private sector clean energy expert: Are property owners, developers and businesses acting now, or waiting to see what happens after a passing of the baton?
“There are clients on both the public and private side that might have a wait and see approach in terms of investments and budgeting priorities, in terms of putting off capital expenditures until they know the potential longevity of incentive programs,” she said. “There’s also, in the other camp, a thought that they should potentially enter into programs that might be discontinued, or a thought that they could be grandfathered into a project to meet current regulatory standards.
“For me, I’m more-so working on projects that are looking to expedite the timeframe so they can focus on the here and now in terms of this unique volume of known available funds, including from an agency like FEMA for flood mitigation.”
Conversation starter
Reach T&M Associates at tandmassociates.com or call 844-965-1125
