California Alternative Energy and Advanced Transportation Financing Authority

California Hub for Energy Efficiency Financing Pilot Programs

Background

The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) serves as the manager of the California Hub for Energy Efficiency Financing (CHEEF). In this role, CAEATFA is developing the California Hub for Energy Efficiency Financing Pilot Programs in collaboration with the California Public Utilities Commission (CPUC) and the state’s investor-owned utilities (IOUs). The state's IOUs include Pacific Gas & Electric (PG&E), Southern California Edison (SCE), Southern California Gas (SoCal Gas), and San Diego Gas & Electric (SDG&E). These pilot programs are designed to help California achieve its energy efficiency goals by increasing the availability of lower-cost financing for energy efficiency investments throughout the state.

The pilot programs will encourage and leverage private lending and investment with various features such as loan loss reserves, debt service reserve funds, and the ability for IOU customers to include monthly loan payments directly on their monthly bills (on-bill repayment). These features also should allow lenders to offer better rates and terms by reducing their risk. In turn, consumers will have increased access to lower-cost financing, allowing them to upgrade their homes and businesses while saving money on energy. The CPUC has allocated $65.9 million for developing, administering and providing credit enhancements to the pilot programs.

Contact Information

If you have any questions about the California Hub for Energy Efficiency Financing pilot programs, please contact cheef@treasurer.ca.gov at (916) 651-8157.