This webinar provides a roadmap to implementing and managing a successful green revolving fund (GRF) to finance energy efficiency and sustainability projects. The webinar offers an overview of Green Revolving Funds: An Introductory Guide to Implementation and Management, with examples from Agnes Scott College and the University of New Hampshire. AASHE was pleased to host this webinar with the Sustainable Endowments Institute (SEI). Presenters: Judy Walton, Chief Publications Officer, AASHE Joe Indvik, Consultant, ICF International Susan Kidd, Director of Sustainability, Agnes Scott College Matt O'Keefe, Campus Energy Manager, University of New Hampshire

1. 1AASHE Webinar - April 23, 2013
Judy Walton
AASHE
Joe Indvik
ICF International
Susan Kidd
Agnes Scott College
Matt O’Keefe
U. of New Hampshire
Implementation Strategies
for campus green revolving funds

2. Judy Walton
Chief Publications Officer
AASHE
Speakers
Joe Indvik
Consultant
ICF International
Susan Kidd
Director of Sustainability
Agnes Scott College
Matt O’Keefe
Campus Energy Manager
University of New Hampshire
2

3. Anatomy of a GRF
10 Steps to a Successful GRF
Building your GRF Strategy
Case Studies from GRF Leaders
Introduction
A roadmap to get your green
revolving fund up and running
Agnes Scott College
University of New Hampshire
What is a GRF?
3

4. What is a
Green Revolving
? Fund?
4

5. What is a GRF?
5

6. Background
6
76 institutions
$111M committed

7. Solution: A guide that establishes best practices
Facility Managers
Energy Managers
Presidents
Students
Trustees
CFOs
Sustainability Directors
Interviews
Research
and Data
Greening the
Bottom Line 2012
School Case Studies
Experience
GRF Charters
Billion Dollar
Green Challenge
Consulting
ConferencesPartner
Organizations
Second Nature
AASHE
ACUPCC
ICF
Background
7

8. AnatomyOf a GRF
8

9. Anatomy of a GRF
GRF
9

10. Anatomy of a GRF
Foundation
Seed Capital
10

11. Anatomy of a GRF
Foundation
Seed Capital
Operations
Project Selection
Project Criteria
11

12. Anatomy of a GRF
Foundation
Seed Capital
Operations
Project Selection
Project Criteria
Inner Workings
Accounting System
Payback Mechanics
Measuring Savings
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13. Anatomy of a GRF
Foundation
Seed Capital
Operations
Project Selection
Project Criteria
Inner Workings
Accounting System
Payback Mechanics
Measuring Savings
Leadership
Fund Oversight
Long-Term Strategy
13

14. 10 Steps
To a successful GRF
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15. 10 Steps to a Successful GRF
1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
“Don’t reinvent the wheel. Talk to other
universities who have made this work and
assimilate those programs into a custom
program that will work at your school.”
- John Onderdonk, Caltech’s Director of
Sustainability Programs
www.greenbillion.org/resources
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16. 10 Steps to a Successful GRF
1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
GRFs are like snowflakes…
16

17. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
Energy audits
Opportunity list
Portfolio analysis
17

18. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
18

19. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
19

20. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
Make-or-break questions:
? Who pays the project invoice
and with which account?
?
Which account will make
repayments? How often and
how much?
?
How do these transactions and
obligations appear on
departmental balance sheets?
20

21. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
21

22. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
22

23. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5 Secure seed capital
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
www.greenbillion.org/grits
Green Revolving Investment Tracking System (GRITS)
23

24. 1 Do your homework
2 Select your model
3 Run the numbers
4 Build buy-in
5
6 Establish financial flows
7 Launch the fund
8 Implement projects
9 Assess performance
Optimize and improve10
10 Steps to a Successful GRF
Secure seed capital
24

25. Agnes Scott CollegeAgnes Scott College
Building Buy-in and Securing Seed Capital
for a Green Revolving Fund
Susan Kidd
Sustainability Director
Agnes Scott College
4/23/2013
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26. Located in Decatur, GA
Founded in 1889
Population
• 900 students
• 300 faculty/staff
Footprint
• 29 buildings – 900,000 sq ft.
• 100 acre campus
• 2,000 trees
About Agnes ScottAbout Agnes Scott
26

27. College Mission:
We educate women to think
deeply, live honorably, and
engage the intellectual and
social challenges of their time.
Strategic Plan for 2014:
Engaging a Wider World
Sustainability central to
Goal #4: “Living Honorably”
Sustainability as a Strategic PrioritySustainability as a Strategic Priority
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28. • Financing mechanism that best
fits our energy efficiency goals
• Elegant vehicle for structuring
and highlighting institutional
commitment to efficiency
(carbon emissions reduction &
utility budget savings)
• Powerful interdisciplinary
learning tool – math, economics,
business, physics, meteorology
• Positive donor response
Why we started our
Green Revolving Fund (GRF)
Why we started our
Green Revolving Fund (GRF)
28

29. • Analysis of energy
efficiency retrofitting
needs (ranked priorities
list)
• Establishment of an energy
conservation program
• Focus on best practices for
utility data monitoring
• Support from donor
• Coverage in college
publications
• Research & assistance from
other colleges & Billion
Build Buy-in: Step 1Build Buy-in: Step 1

30. LOTS of internal
discussion to build
buy-in
- President
- Vice President, Business
& Finance
- Sustainability Director
and student interns
Build Buy-in: Step 2Build Buy-in: Step 2
30

31. Project selection -
GRF Committee:
- Business & Finance
- Facilities, ITS, Sustainability
- Faculty
- Students
Criteria:
– Simple payback period
– Operational urgency
– Annual carbon reduction
– ADDED - visibility, educational
value, other positive spin-offs, etc.
Build Buy-in: Step 3Build Buy-in: Step 3
31

32. • College commitment: $1 million by 2015
• $395,000 committed to date by individual donors,
including alumnae
• $60,000 in requests pending
• Other sources likely to be:
- Foundations
- Building renovation funds (specifically in proposals)
- Deferred maintenance funds
- Energy efficiency/utility savings
Secure Seed CapitalSecure Seed Capital
32

33. 33
The Energy Efficiency Fund at UNH:
Matt O’Keefe, UNH Energy Manager
University of New Hampshire
April 23, 2013
Capturing Cash Flows and
Tracking Savings
33

34.  RCM Campus
» Utility costs fed into larger “overhead” costs
» Rates set far in advance of operating year
» NO incentive to conserve
EEF Framework
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35.  Systems Benefit Model
 Revolving Fund
 100% reinvestment
 WildCAP guiding document
 Energy Task Force managed
Energy Efficiency Fund Concept
35

36.  $650k ARRA award
 $400K one time internal
capital infusion
 $60K Renewable Grant
 $350K Efficiency
Incentive Payment
 $4 saved for every
$1 invested
Forecasted Cash Flows
36

37.  Sub-metering of projects/buildings
 Tracking Software (FEDS, GRITS)
 EE Evaluation Reporting
» IPMVP, NEEP, CEE, Utility Reports
 Leveraging Fund $ for outside investment
Savings Tracking
37

38. www.greenbillion.org/resources
Bigger and better Comprehensive Guide coming this spring!
• Full fund design case studies
• M&V guidance
• Fund analytics
• Fund documentation support
• More interviews, more content,
more examples
Next Steps
38

39. www.greenbillion.org/join-the-challenge
Join the Billion Dollar Green Challenge
Next Steps
39

40. An Additional Resource
Campus Green Revolving Funds Database
In AASHE’s Resource Center - www.aashe.org/resources
Click on “Investment & Financing” under “Planning, Administration
& Engagement Resources”
Next Steps
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41. Upcoming AASHE Events
Webinar - “Integrating Sustainability into the Curriculum“
Tuesday, May 28, 2 EDT
Workshop – “Developing a Campus Sustainability Living Lab”
June 7-9, Portland State U (Oregon)
Next Steps
41
More info: www.aashe.org/events

42. Questions?
Questions?
Judy Walton, AASHE
859-898-0463
judy@aashe.org
Joe Indvik, ICF International
202-862-1252
joe.indvik@icfi.com
Susan Kidd, Agnes Scott College
404-471-6080
sakidd@agnesscott.edu
Matt O’Keefe, U. of New Hampshire
603-862-1276
matt.okeefe@unh.edu
Submit questions in the
“Questions” pane of the
toolbar on the right side
of your screen.
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43. 43
Thank
You!