A Green Bank in Rhode Island

Rhode Island is a widely recognized leader in energy efficiency. So when the state’s Energy Efficiency Resource Council sought to leverage financing mechanisms to spur ever-greater adoption of efficiency and renewable energy, it called on Dunsky for assistance.

Working collaboratively with the state’s utility, National Grid, as well as government and stakeholders, Dunsky reviewed existing financing options as well as the full array of alternatives, considered in light of Rhode Island’s unique context and needs. Our recommendations for consolidating and improving financing tools in the state were heard and Rhode Island soon established the state’s first Infrastructure Bank, a quasi-governmental lending institution that is now building new residential and commercial PACE programs, as well as an efficiency financing program for municipal facility.

Dunsky was subsequently retained to support the state in the design and roll out of these programs, and to offer strategic input to ensure their integration with National Grid’s existing residential and commercial financing programs. Our work has now grown to explore ways that incentives and financing can be combined to reduce the overall cost of savings delivered, and drive programs to deeper savings opportunities.

Similar Projects: Dunsky designed or evaluated more than a dozen energy efficiency / renewable energy finance programs across North America, including residential PACE and PAYS models, large commercial finance models, solar leasing and advanced heat pump leasing programs, on-bill repayment mechanisms, and a variety of other vehicles. We have also assisted a number of clients, from the California Public Utilities Commission and the Connecticut Green Bank to the City of Toronto and Efficiency Maine, in assessing the impact and value of various financing initiatives, and developing strategies to effectively integrate financing and incentive programs to accelerate energy savings at a lower per unit cost.