Many governments, however, are overburdened with debt and thus unable to issue bonds for renewable or energy efficiency projects. Progressive Energy can help local officials aggregate projects at municipal and commercial facilities at no cost to the government through our relationships with private investors and project developers. We have relationships with renewable and energy efficiency project development firms seeking to partner with local officials, many of which finance, build, own and maintain the project on behalf of the government host site.
Private project developers and investors are excellent partners for government facilities because they can monetize federal and state tax incentives provided under renewable and energy efficiency programs, whereas tax-exempt entities cannot. Using the tax and other incentives, project developers and investors are able to pass on energy cost savings through power purchase agreements (renewable energy) and energy performance contracts (energy efficiency). Often times, municipal facilities can maximize energy cost savings by combining renewable and energy efficiency projects.
Progressive Energy can help local officials coordinate the various components of these projects, integrating a combination of wind, solar PV, solar thermal, biomass, geothermal heating and cooling, and energy efficiency measurements. By working directly with investors, or through broker dealer platforms, we can arrange private financing for a wide array of projects throughout the U.S. Through our relationships, we are able to reach a diverse array of potential investors in the U.S. and E.U. including hedge funds, mutual funds, family offices, private equity firms and institutional investors.