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Final CCA 3.0 Equity Lens Report FINAL DRAFT copy SUBMITTEDCCA 3.0 Equity Lens By Local Power LLC Author: Paul Fenn Research: Charles Schultz Editor: Julia Peters Northampton, Amherst, Pelham, Pioneer Valley Planning Commission, Boston, Cambridge and Somerville, Massachusetts; Saratoga Springs, New York; Jersey City, New Jersey; Cincinnati, Ohio; Hanover, New Hampshire and Urban Sustainability Directors Network November 19, 2019 Edited Draft December 5, 2019 Local Power LLC Draft II CCA 3.0 Equity Lens 1 Table of Contents 1. Introduction: Core 3.0 Equity Strategy…………………………………………...2 2. Technologies of Social Equity………………………………………………………6 3. Energy Efficiency Financing for Energy Equity…………………………………..7 4. Northampton/Amherst/Pelham Energy Equity CCA 3.0 Scenario…………..10 5. How to Access Social Equity.…………………………………………….………..11 6. Financial Stability and Sources of Revenue for CCA 3.0 Energy Equity…...13 7. Environmental Justice and the Distribution of Benefits through Equity in Ownership of Renewable Energy………………………………………………….17 8. Environmental Justice: Distribution of Benefits through Rate Structures...21 9. Usage Data and Metering…………………………………………………………..24 10. Security and Revenue……………………………………………………………….24 11. Customer Experience of a Universal Shares Offering………………………...25 12. Distributed Energy Resources (DER) Development Planning……………….26 13. Inclusive Representation…………………………………………………………...26 Appendix A: Glossary of Terms……………………………………………………….28 Local Power LLC Draft II CCA 3.0 Equity Lens 2 1. Introduction: Core 3.0 Equity Strategy Many municipalities in the U.S. and around the world have declared climate emergencies in recent years, calling for accelerated, rapid, scaled greenhouse gas reductions that can only be achieved through a profound transformation of energy as described by the United Nations in March, 2019.1 A profound transformation of energy requires a shift from policies designed for incremental progress to policies designed for rapid physical change. This means not merely a mitigation of fossil fuel use, but a physical replacement and elimination of fossil resources. This shift is not occurring under prevailing regulatory regimes for renewable energy, namely; (1) Renewable Energy Credits (RECs), which create market incentives to renewables developers, but continue in the consumption of conventional fossil- centered supply; (2) development of centralized renewables, which while superior to RECs in causing physical and regional carbon reductions are inherently limited in reducing carbon emissions due to the energy grid’s need to balance intermittent resources with fossil fuel-based balancing capacity; and, (3) Net Metering (NEM) and Feed-in-Tariff (FIT) programs that offer greater carbon benefits to centralized renewables, but are inherently limited, perpetuating the solar owner’s reliance upon imported fossil power from the grid, functionally separating renewables from the buildings on which they are sited, and making the customer’ financially dependent on exporting onsite renewable power into a highly voltage-constrained, low voltage distribution grid. Recognizing that these widely used incentive mechanisms for renewables, having perhaps been useful for their early market development, are utterly inadequate for the scale and schedule of energy transformation required for climate mobilization, eleven U.S. cities have requested nationwide guidance on how to directly build at scale, rather than merely “incentivize,” local renewables and energy efficiency, and how to disengage from, not merely mitigate, fossil fuel power plants. These eleven cities from five states2 with Community Choice Aggregation (CCA) laws in place, are interested in using their community-wide energy purchasing programs not merely to purchase Renewable Energy Credits, but to plan and facilitate voluntary customer investment in local renewables and energy efficiency technologies. Accordingly, this document approaches climate mobilization through an “equity lens” in which private sector engagement in local green energy investment presents a clear path to scaled, accelerated regional decarbonization. Specifically this document identifies distributional opportunities, access opportunities, social equity opportunities and energy democracy opportunities that may be realized by a new iteration of Community Choice Aggregation known as CCA 3.0, articulated in the preceding report, “CCA 3.0 Pathways.” 1 https://www.un.org/press/en/2019/ga12131.doc.htm 2 Massachusetts - Northampton, Amherst, Pelham, Pioneer Valley Planning Commission, Boston, Cambridge, Somerville; New York - Saratoga Springs; New Jersey – Jersey City; Ohio 2 Massachusetts - Northampton, Amherst, Pelham, Pioneer Valley Planning Commission, Boston, Cambridge, Somerville; New York - Saratoga Springs; New Jersey – Jersey City; Ohio – Cincinnati; New Hampshire – Hanover. Local Power LLC Draft II CCA 3.0 Equity Lens 3 These municipalities, many of them with CCA programs already underway, commissioned this document to outline a new CCA model that will engage the whole community: to create benefits of environmental justice, and to ensure an equitable distribution of program benefits, including “equity in ownership of renewable energy.” Articulating the rate and charge structures that will be employed to make this happen, a new CCA business model and governance model, they stated, should be designed to deliver “inclusive representation” in the form of both citizen engagement in CCA decision-making and customer engagement in the renewables and energy efficiency technologies that are built. In fulfillment of these goals, the “CCA 3.0 Pathways” report presents three major new elements – (1) municipal partnership, (2) customer shares, and (3) customer cooperatives as defining a “climate equity” platform, incorporating several forms of energy equity, defined by the project: • Procedural equity or inclusion, meaning “inclusive, accessible authentic engagement and representation in the process to develop or implement programs or policies,” • Distributional equity or access, in which “programs and policies result in fair distributions of benefits and burdens across all segments of a community, prioritizing those with highest need,” • Structural equity, under which “decision-makers institutionalize accountability, (where) decisions are made with a recognition of the historical, cultural, and institutional dynamics and structures that have routinely advantaged privileged groups in society, and resulted in chronic, cumulative disadvantage for subordinated groups,” and • Transgenerational equity, for which: “decisions consider generational impacts and do not result in unfair burdens on future generations.” Incorporating energy equity within a climate mobilization strategy, this next chapter is intended to explain and contextualize the equity-centered program design articulated in the “CCA 3.0 Pathways” report. Moreover, this “Equity Lens” report makes the case that energy equity is itself a necessary strategy for achieving the “transformational” magnitude of physical greenhouse gas reductions called for by the United Nations. The CCA 3.0 program design incorporates each of these forms of equity into an operational CCA agency business model based on building internal capacity to create local energy equity, participatory governance and accountability to ensure their realization, and program structure to effectively engage democratic and economic participation by all members of the local community: • Procedural equity highlights the dual nature of engagement of community members as citizens and consumers, including (1) a participatory democratic process of defining policies and programs, and also (2) equitable customer participation in economic benefits. • Distributional equity requires an active engagement of low-income, fixed income, and small- to medium-sized businesses eligible for equity irrespective Local Power LLC Draft II CCA 3.0 Equity Lens 4 of their credit score, to participate in program or policy benefits, such as ownership. • Structural equity requires both a governance model that encourages accountability by elected officials and staff, and an active solicitation of under- represented, particularly low-income residents to participate in both CCA decision-making and investment. • Transgenerational equity recommends an energy strategy that reduces carbon emissions today, rather than waiting until a future date, to avert compounding future costs. Inherent in CCA 3.0 program design and policy is that it is implementable now, and should not delay important decisions that compound the cumulative burden of climate change cost on future generations. Specifically, CCAs 3.0 should commit investments in transforming energy to scale up impact on climate disruption and equity, not merely mitigate a static utility business model. The CCA 3.0 program design is built upon the fact that equitable energy ownership, as opposed to equitable consumption of energy, is a precondition for the transformation of the vast majority of energy use, from automobile purchase choices for transportation fuels, to electricity generation technology choices for power fuels, to building heating, ventilation and cooling (HVAC) and hot water heater choices for heating fuels. The difference between CCA 1.0 and 2.0, further articulated in the ‘CCA 3.0 Pathways” report, is like the difference between an energy efficient gasoline car and a renewably- powered electric vehicle. The difference between 2.0 and 3.0 is more akin to that of giving the hungry person a fish versus a fishing pole. CCA 3.0 resolves to conclusively replace conventional fossil fuel-based grid power resources through inter-municipal planning, finance and development, rather than merely “mitigating” continuing fossil fuel demand by making ongoing market incentive payments. Specifically, Distributed Energy Resources (DERs), encompassing all behind- meter, load reducing renewable energy, energy storage, energy management, fuel switching, conservation, and energy efficiency measures, define the technological suite of this strategy. The potential for the 1500 existing U.S. CCA 1.0 programs to CCA 3.0, which is the premise of this document, represents a new strategy in both choice of renewable technology (DER) and equity (customer ownership). The habitat of energy transformation is in homes and businesses. Unlike the New Deal’s public sector orientation, a “Green New Deal” must transform the private sector, which consumes the vast majority of energy. Equity defines a revenue strategy based on demand-side load reduction as opposed to supply-side energy trading. Combining energy equity and climate action into one strategy, “climate equity” is not merely a concession that municipalities should offer economic benefits to low- to middle-income residents and small businesses in the process of climate mobilization, but recognition that their participation is a structural precondition for successful climate impactfulness of those very mobilizations. In this way, voluntary investment throughout the private sector is not an option, but a requirement for rapid decarbonization. Finally, CCA 3.0 facilitates voluntary customer investment in small, modular DERs on homes and businesses that reduce demand for grid and pipeline resources, rather than Local Power LLC Draft II CCA 3.0 Equity Lens 5 centralized renewable generation that adds to such demand. The technology suite of CCA 3.0 reflects plummeting cost of onsite solar and other renewable energy (RE) plus storage, including batteries, renewable HVAC/hot water and electric vehicles, to exponentially grow the horizon of transformation achievable under existing regulatory and system constraints. Whereas Net Energy Metering (NEM) and Feed in Tariff (FIT) systems are constrained by utilities and regulators, and cause voltage regulation grid impacts that severely limit the potential of DER penetration in distribution grids, the 3.0 approach articulated in this report uses integration and fuel switching to avoid the financial necessity of exporting power from DER sites altogether. In so doing, CCA 3.0 enlarges the level of potential penetration from less than 10% today to more than half, and potentially as much as 75% of the annual load in any given area of the distribution grid.3 This approach dramatically ramps up the level, schedule and firmness of greenhouse gas reductions that are economically achievable in CCA 3.0, above and beyond levels achievable by conventional state- and investor-owned utility programs. Presenting a new horizon of economically implementable sustainable energy development, it is made possible by focusing on: • Partnerships with CCA member municipalities to provide financial and account support for their residents and businesses, and developing shared renewables facilities on municipal properties, • Engagement with, development and operation of, onsite microgrid-enabled renewables and renewables plus storage on homes, businesses and local public agency properties based on site energy requirements, • Providing retail products based on customer shares and customer cooperatives to engage the majority of customers who do not own economical DER host sites. This programmatic leap, comparable to this last decade’s leap from purchasing energy supply products under CCA 1.0, to developing centralized generation under 2.0, may be described as a shift to facilitating customer investment and ownership benefits of avoided grid power and fuel consumption. Whereas export-based customer ownership models, Net Energy Metering and Feed in Tariff programs have effectively excluded the vast majority of residents and businesses who are not owners of new, unencumbered south-facing rooftops, CCA 3.0 exponentially increases the potential participation of low-, medium, fixed income residents and small- to medium-sized businesses in such investment and ownership benefits. Ownership creates a new paradigm of value for customers that is broader than, but also encompasses the cost per kilowatt-hour or “rate.” Energy efficiency, long-competitive with the cheapest fossil power (whereas RECs add to the cost of such power), as well as onsite “solar-plus-storage,” is cost effective against the cost of renewable system power in dense energy use environments. HVAC/hot water fuel switching creates savings from avoiding more expensive natural gas and fuel oil, and Electric Vehicles create savings from avoiding more expensive gasoline. Thus, the CCA 3.0 approach will 3 For example, see Local Power Inc., “CleanPowerSF In-City Buildout Program Design and Business Case” (2013) http://localpower.com/CleanPowerSF.html Local Power LLC Draft II CCA 3.0 Equity Lens 6 provide lower ongoing costs for customers while creating greater equity benefits, particularly ownership (future bill offset) benefits, for any customer that voluntarily signs up for them. Finally, such investment confers secondary economic benefits on all members of the community: DERs targeted geographically and temporally to reform a CCA’s aggregate load duration curve create secondary savings for all CCA customers, not just those who make voluntary investments, in the form of lower CCA capacity requirements, charges and “tags” on monthly bills. In addition to the development of DERs on municipal properties as shared renewables sites, municipalities will play an important role in their financing relationship to customers and building owners under CCA 3.0, as well as in data sharing, planning/permitting DERs, and the use of public rights of way for DER components like EV chargers and microgrids. Employing existing municipal service resources, municipal activity costs will be funded from an account management fee on customer DER loan agreements, and costs avoided by municipal DER and revenue generated by sales from municipally-owned renewable generation facilities. As the operational business model changed from 1.0 to 2.0, it does again under a CCA 3.0 program, which must build capacity to undertake a new set of activities centered around local redevelopment, municipal cooperation, and customer engagement. CCA agency staff will provide energy planning and procurement functions, serving as an “umbrella” energy procurement and services administrator, in a mission-focused micro- agency. This micro-agency will directly negotiate with suppliers or generators, to plan, develop and administer the local DERs, with CCA member municipalities invited to participate as their partners, and with customers as their intended beneficiaries. CCA agency costs will be recovered from adders and rates in program revenues, state funding, and grants. The defining elements of a climate-impactful CCA 3.0 equity strategy are: • Encompass not only conventional plug loads but also HVAC/hot water and Electric Vehicles (EVs) • Engage member municipalities in development and customer finance • Engage customer investment through shares and cooperatives • Shift renewables paradigm from RECs, NEMs and FIT transactions to non- exporting DERs • Build CCA staff capacity around DER planning, products and development, customer services and enrollment, and member municipality coordination • Shift to Direct Retail or Direct Wholesale business model and confine outsourcing to local DER installation and new program/product development • Establish a Job Order system and coordinate with local job training programs (e.g. unions, universities) to support local contractor participation and local job placement 2. Technologies of Social Equity Equity-conferring technologies are located in the buildings that use their physical energy and in the blocks or neighborhoods of the consumers who invest in them. CCA Local Power LLC Draft II CCA 3.0 Equity Lens 7 3.0 customers will receive bill credits reflecting cumulative ownership in the technologies based on monthly utility bill payments. These technologies include HVAC and hot water appliances and electric vehicles, which serve as recipients of real-time excess capacity, or “storage.” Storage and onsite renewable generation are integrated through microgrids and control systems, and offered as integrated assets for customer share ownership by participating CCA customers. A robust program will offer several forms of equity options to guarantee inclusiveness, expand access, and maximize climate impact. Some products will be physically shared, others virtually through shares and cooperative agreements, while others are owned individually as consumer appliances, control panels, storage management systems, like Internet Protocol (IP) thermostats and EV chargers, or other energy retrofits in homes and businesses. The primary technologies to serve a CCA 3.0 are: a. In-building, on-block, in neighborhood renewable generators within CCA jurisdictional boundaries b. Demand management technologies in homes and businesses (and public agencies) i. Electrical energy efficiency Ii. IP thermostats and Heating, Ventilation and Air Conditioning (HVAC) efficiency, hot water efficiency and conservation ii. Hot water appliances (shared or individual) c. Solar-integrated electric vehicle sharing, collectives and ownership d. Renewable onsite HVAC and hot water (fuel switching) e. Resilience-enabled microgrids (shared, municipal or nonprofit) f. Software as a Service web portal and/or transactive energy platform (CCA- licensed or contracted- see Glossary) h. Storage-dispatchable load control systems (commercially available under interoperable equipment standards) 3. Energy Efficiency Financing for Energy Equity Apart from the opportunity for CCAs in Massachusetts and California to administer energy efficiency funds locally, energy efficiency finance is a critical component of any DER development pathway, because Demand Side Management (DSM) measures are the most cost effective resources with the shortest customer return on investment. Local Power LLC Draft II CCA 3.0 Equity Lens 8 Through a ‘shared savings’ arrangement, a portion of the associated bill savings should be diverted to cover municipal customer loan repayments while also paying the cost of CCA program administration/development/operation, municipal finance contract administration and planning costs. This is similar to the business model of a demand- side management contractor or Energy Services Company (ESCO). Depending on the customer type, efficiency savings typically provide ample room for a ‘win-win-win’ in which the customer, the program, and all ratepayers benefit economically from energy efficiency measures. 4 The financing approach to energy efficiency overcomes numerous barriers that exist under the current paradigm of providing rebates and asking customers to pay for upfront capital costs. Among them are: a. Bill Neutrality The loan repayment may be structured to match or be lower than the monthly utility bill savings, resulting in a positive cash-flow for the customer immediately. b. Landlord-Tenant Split Incentives These occur when property owners must pay the costs for capital improvements, and tenants pay for the energy bills. Many commercial leases stipulate this arrangement, and rent control regulations limit the costs that a property owner may pass through to residential tenants. This precludes deep investment into energy efficiency, as the landlord must pay the cost but the tenant receives the financial benefit. c. Initial Cost The capital cost of efficiency is a barrier to program participation for many customers. d. Longer Paybacks Financing can match the payback or even lifetime of the measures installed, leading to deeper retrofits. e. Avoidance of Debt As an off-balance sheet mechanism, program financing will obviate the need to pay for efficiency measures out of capital budgets (which are typically harder to access). This is relevant to commercial and institutional customers. f. Opportunity Cost of Capital 4 Laws regarding use of municipal water/sewer/garbage/tax billing for energy efficiency finance depend on statutes, municipal ordinances, and agency charters. Local Power LLC Draft II CCA 3.0 Equity Lens 9 In many projections for energy efficiency in terms of Return on Investment (ROI), a proposed retrofit may make financial sense, but the customer may well make investment decisions based on broader criteria. For example, a business may wish to spend its limited capital on its core competitive activities rather than building and appliance upgrades. g. Transactional Costs While energy efficiency financing mechanisms do exist for certain customer types, navigating available options and negotiating with lenders directly adds a transactional cost to each project, and is also a hassle for the customer. Both of these drive down participation, and are avoided by having the program itself structure and execute financing agreements. h. ‘Shared Savings’ Agreements CCA 3.0 financing of energy efficiency measures in homes and businesses would include a ‘shared savings’ agreement: in return for financing and implementing the measures, the CCA, municipality, or JPE would receive a portion of the value of the efficiency savings that result. i. Repayment Mechanisms for Demand Side Management On-bill financing (OBF) is the preferred repayment mechanism to service the debt on deployed demand-side assets, because it offers the ability to tie repayment to the meter rather than the CCA customer; this allows deeper retrofits with longer repayment timelines. While many distribution utility billing systems are technically capable of processing on-bill financing charges, they are typically unavailable, such that it is necessary to explore alternative repayment mechanisms in addition to on-bill financing. These alternatives include on-bill financing on municipal water/sewer/tax bills through engagement of building owners, or else contracting with software-as-a-service companies on cloud-based platforms to provide DER back office services, including reporting, customer care, online billing and payment, and utility electronic data interface (EDI) communication. Under the municipal billing approach, municipalities will arrange with landlords to transfer the repayment obligation from the electrical meter to the water meter through creation of a unit specific account. For the residential sector, this mechanism would be easily deployed for owner-occupied single-family homes, which have a single occupant, water meter, and power meter. Under the contractor billing model, CCA customers will receive CCA-service-based loan account services through the CCA’s customer portal, in which they may access their individual energy consumption, billing information, savings, environmental impact, and other account information as determined by the CCA. While municipal billing offers a stronger platform of engagement, either of these approaches will significantly increase DER program participation as well as the average savings per retrofit. This is because the scale of the retrofit will be based on what makes the most long-term financial sense, instead of on what the customer can afford Local Power LLC Draft II CCA 3.0 Equity Lens 10 to implement at a given point in time. It should also lower the transactional costs of collecting payments for efficiency measures installed. j. The Value of a Negawatt Another barrier to customer adoption of energy efficiency is uncertainty surrounding the financial benefits of the efficiency measures installed. Selling efficiency is in large part convincing the customer of benefits that cannot be measured directly, as it results in the avoidance of consumption. In addition, many customers may temporarily see bill savings after a building retrofit, but then will install a large appliance (e.g., a hot tub) and see their bills increase. This is sometimes referred to in the shared savings sector as the ‘hot tub’ effect. If the customer is unaware of this effect, it could negatively impact their perception of the program. This is less of a problem for larger and more sophisticated customers, as they typically employ maintenance personnel that understand these issues, and the project is large enough to negotiate a highly tailored shared savings agreement. For smaller projects, point-of-sale software allows for transparent demonstration of projected bill savings. Program delivery mechanisms should ensure that the ‘hot tub’ effect is explained to the customer, and implement a shared savings agreement that takes this into consideration. Similar functionality should be incorporated into customer web-portals, such that the customer may see how much their efficiency measures have saved them in energy costs, and what their bill would have been absent the measures. For more complex projects at larger sites, the use of ‘Smart Building’ end-use metering equipment and associated pattern-recognition software should be deployed (where cost-effective), both to monitor and prove savings, and to guard against savings degradation over time (continuous retro-commissioning). 4. Northampton/Amherst/Pelham Energy Equity CCA 3.0 Scenario A local CCA 3.0 program would administer a customer shares program and municipal cooperative program to willing member municipalities and help them to organize a financing program with their residents and businesses. The financing program is based on revenue bonds, state zero interest loans, or other private sources such as local banks, cooperatives and credit unions. The financing enables DERs development among municipal buildings, campuses and adjacent multi-residential and commercial buildings, as well as single-family homes, home businesses and farms. A municipal billing system, Software-as-a-Service web-based portal and/or Transactive Energy Platform would then be administered for generation and storage metering. A universal offering includes shares and home/business energy efficiency for any customer, and cooperative shares for customers who actively organize a cooperative with their neighbors in the building, on the block, or in the same neighborhood, using both off-site virtual and on-site sharing adders, fees, or rates, as approved by the Department of Public Utilities (DPU). Local Power LLC Draft II CCA 3.0 Equity Lens 11 National Grid and Eversouce will provide a local CCA with monthly billing data histories for all customers under Massachusetts DPU rules and described within the relevant tariffs of the IOU regarding municipal aggregators, at a single charge per request. 5 [Place marker for “3.0 Transition Plan” pending final edits of transition plan document] 5. How to Access Social Equity Equity is defined as a reasonably expectable multi-decade economic benefit, much in the manner of a low-to medium-risk/yield investment or retirement account. In this case the benefit is manifest in accumulation of shares in DER and the value of energy generated for the life of DER equipment. Savings are generated by long-term forecasted cumulative energy demand offsets and not short-term transactions. This can take various forms based on state CCA laws and regulations, and municipal governance statutes that define the economic development and community services practices of cities and towns. These also vary by municipal policy and charter, which provide for planning and executing new programs for public welfare and safety. The CCA 3.0 program is designed to avoid barriers to CCAs to directly manage equity by partnering with member municipalities to manage the investment relationship with the customer, and administering the procurement planning and administration (billing and data processes) on behalf of the customer. This is done by a cooperative arrangement, between a CCA agency and a member municipality that offers a DER loan to a resident or business owner who is a CCA customer and has opted “up” (shares) or “with” (cooperatives). Under this arrangement, the CCA customer voluntary chooses to pay a CCA to “invest” in a product involving a rate premium (per kilowatt hour or voluntary surcharge) that the CCA has agreed to transfer to the municipality’s customer DER loan account. As the loan is being repaid and financial equity accumulates, the CCA applies credits to the customer’s bill reflecting that ownership, much as would occur in the purchase of solar panels for one’s home or business. Voluntary organizations will be formed by CCA customers outside the powers of municipalities that will be facilitated by a CCA-adopted policy and administrative protocol. Cooperatives or local business and institutional groups may include neighbor- initiated microgrids, commercial complexes, multi-residential buildings, mixed use areas and live/work buildings, 24-hour access buildings, institutional campuses, essential public facilities, with the municipalities themselves acting as owners of buildings and fleets, and consumers of energy and transportation fuels. All of these are particular development targets of this approach.6 5 Utility fees for customer data vary not only by state regulation but also by individual electric utility distribution company tariffs. Because a Northampton/Amherst/Pelham CCA will cross Eversource and National Grid service territories, data costs and protocols will differ somewhat between the two entities. 6 Cooperative membership structures and rules vary by co-op, but must include provisions for residents that elect to relocate or otherwise terminate membership, as well as provisions for offering admittance and receiving new members in their place. Local Power LLC Draft II CCA 3.0 Equity Lens 12 As municipally formed and governed programs, CCAs already benefit from what Peregrine’s first draft report called the high level of public trust in municipal government, compared to a very low level of trust toward energy marketers, including green energy marketers. Local Power’s “CCA 3.0 Pathways” report describes public mistrust of competitive suppliers resulting from chronically misleading offers and fraud as a massive barrier to public participation in all green offerings, including DERs. Climate mobilization depends upon residents and businesses choosing to invest in local DER. By partnering with municipal governments to assume a key customer-facing role in equity, CCA 3.0 will strengthen this trust with customers to drive up participation rates above conventional levels of green pricing and community solar, which, being limited to owners and customers able to pay premiums with no payback or return-on- investment, are inconsiderable. CCA 3.0 programs will focus strategically on establishing trust through local citizen engagement, adopted policy declarations of public purpose, and operational transparency and full financial disclosure with customers: elements which are sorely lacking in conventional energy markets whether regulated or unregulated. Most current CCA practices outside California in which CCAs do not administer the customer relationship, leaving customer call centers and account management to their chosen retail suppliers and CCA brokers, miss a massive opportunity to get the attention of community members and civic and community organizations with the message that this program is different. Such CCA programs are over-dependent upon the crucial opt-out enrollment mechanism that CCA creates, neglecting to add more voluntary choices for customers who consent to participation in CCA services. A climate mobilization can be no less than something significantly different from the status quo: a new deal. In this respect, a Green New Deal in actual fact, not a de minimis government program with marginal benefits. CCA 3.0 represents a coordinated action of the community (residents, businesses and municipal government) to co-invest in a physical local climate mobilization. Local Power's “CCA 3.0 Pathways” report outlines a customer engagement strategy for the CCA to actively solicit and manage development of DER facilities at economically advantageous and energy-critical sites that are identified from CCA-held billing data histories, and a Job Order system to solicit developers for CCA-compliant bids to develop and maintain DERs. The CCA can partner with local educational institutions and unions to train workers for placement in planned local DER development, and use the job order system for local contractors to facilitate job placement applications. Along with CCA 3.0’s programmatic expansion to EVs and heating/hot water, and the engagement of customer investment, local labor and economic development elements form a comprehensive climate equity impact worthy of the name Local Green New Deal. CCA 3.0 can provide equity customer benefit to a broad swath of the local and regional population in diverse ways, including: a. Energy efficiency (avoided consumption), b. Shares (bill offsets), Local Power LLC Draft II CCA 3.0 Equity Lens 13 c. Co-op membership shares (bill offsets and avoided consumption), d. EV collectives, sharing and individual ownership (bill offsets and avoided gasoline costs), e. No-commute energy efficiency and development jobs (resulting from locally- based labor and contractors whose avoided transportation reduces greenhouse gas emissions and whose local economic activity results in economic multiplier benefits and wealth retention in the local economy), f. Short-commute contracts for developers (reduced transportation greenhouse gases and regional economic multiplier effects),7 g. Neighborhood energy independence and resilience (available onsite stored energy during utility transmission/distribution grid failures). 6. Financial Stability and Sources of Revenue for CCA 3.0 Energy Equity The keys to financial stability are (1) diverse sources of funding and (2) a light cost/revenue ratio, as explored in the following. a. Diverse funding sources from startup to operations The first key to municipal stability is that its role in the program is, while important, de minimis, consisting of financing account management, planning and permitting. The CCA provides all other work and assists the municipalities in adapting their existing billing and communications platforms to support the CCA-initiated projects, coordinating with their planning, permitting and billing processes, and educating staff and decision-makers. Municipal program costs are recoverable through an increment on financing payments, revenues from municipal shared renewables facilities, and sales of energy from municipally owned renewable DERs as well as lease fees on rights of ways, and state government grants. A universal shares8 offering, like “universal service,” means that all customers will be offered a shares package of one kind or another, based on opting-into the CCA and electing an adder to pay for DER finance. Shares serve customers like renters who don’t own or occupy cost effective or feasible sites for DERs. This would be considered 7 State and local laws define the rules governing municipal procurement. While this report does not include a legal analysis of the rules in each state or municipality, and mandatory local sourcing practices are generally not allowed, point award systems and local training and hiring processes are generally accepted methods of giving preference to local contractors in municipal solicitations/procurements. Accordingly, CCAs in each state should determine the best approach to take to establish local preferences accordingly. No-commute and short-commute provisions are mentioned here because they confer broad public benefits, not merely benefits to the local community, based on reduced transportation-related greenhouse gas emissions. 8 The “universal shares offering” component of CCA 3.0 is also discussed in the CCA 3.0 Pathways report. Local Power LLC Draft II CCA 3.0 Equity Lens 14 a more passive relationship to equity offerings, for which any customer would be eligible irrespective of their occupancy status or geographic location within the participating member municipality. Alternately, active consumers organizing a renter’s microgrid cooperative with building owners, or multiple owner occupied buildings, may proactively apply to the CCA and municipality for financing and developing/administering accounts for their own onsite, on-block or in-neighborhood microgrid. Whether a municipality employs its own revenue bond authority, partners with a local bank or credit union, engages available state financing (e.g. Massachusetts’ zero interest loan program) or engages third party financing (with declining local equity benefits in that order), the structure (if not the quality) of equity is the same, simulating the benefits currently received by wealthier consumers who own properties and install DER on them. However, whereas the revenue basis of equity under conventional DER comes from Net Metering and FIT payments, CCA 3.0 equity revenue originates in avoided grid energy consumption and customer sharing of flexible resources. Under this approach, the CCA, which evaluates candidate sites for development based upon customer data and CCA cost of service analysis, recommends a technology mix and with forecasted Return on Investment (ROI) for the site, based on capital cost range. The municipality then approves or denies the resident, business or cooperative for financing, and if approved, estimates ROI for the customer, based on currently available capital cost (final approval may depend on underwriter if commercial or third party-based). The steps are: i. Customer makes a decision based on CCA-forecasted ROI, which includes increment to fund municipal and CCA administrative services. ii. The accumulation of customer shares results in equals monthly energy bill offset. iii. Energy efficiency is financed by sharing savings between customer and all other customers in a CCA (in addition to separate energy efficiency funds administration in MA/CA). iv. Customer equity accumulates over seven-20 years based on public solicitation responses, generating reported monthly DER net kWh. v. Energy equity continues to generate energy and revenue after ROI, as well as ownership of solar DER equipment as long as it continues to generate revenue. The program will compensate the customer while continuing to cover CCA maintenance, operation and administration. With the loan retired, the municipality would cease to collect an increment. Local Power LLC Draft II CCA 3.0 Equity Lens 15 vi. The transaction will result from a DER Software-as-a-Service and/or Transactive Energy Platform monthly ledger to CCA, which allocates loan payments based on customer-generated/stored energy9 b. Funding focused on revenue generating activities/local development The second key to CCA financial stability is defining its mission and focus not as an energy seller or “utility lite” but an administrator and developer of local customer-owned DER. CCAs have very light administrative staffing requirements after startup compared to the revenue being managed and investments developed and operated. Because power supply and distribution are already managed by the utility, CCA power procurement is conducted by one person, and the other staff are support personnel focused on DER development and operation: data, DER metering and account management, call center, planning, regulatory compliance and contractor management. All DER projects are implemented by contractors under performance contracts in which costs are internalized in customer rates, such that the operational cost to program funding ratio is very small, the program light: a micro-agency partnered with member municipalities to coordinate significant levels of local economic development in the private sector. Having a relatively light staff with most staff focused on development creates positive cash flow. CCA programs in some states establish operational reserves in order to be able to directly issue revenue bonds. Some states limit the ability of CCAs to establish reserves, but municipalities introduce important investment and planning resources to support a partnership approach, through an inter-municipal agreement or creation of a Joint Powers Entity. The key stable sources of revenue available to the CCA to fund a sustainable, growing program come from the following sources, in order of access and of potential magnitude: i. Administrative adders/fee (taking the broker’s responsibilities in-house) ii. Operational adder/fee iii. Energy efficiency program funds10 9 Crowdfunded projects must comply with Securities and Commission rules for “exempt offerings,” which (1) require all transactions under Regulation Crowdfunding to take place online through an SEC-registered intermediary, either a broker-dealer or a funding portal; (2) permit a company to raise a maximum aggregate amount of $1,070,000 through crowdfunding offerings in a 12-month period; (3) limit the amount individual investors can invest across all crowdfunding offerings in a 12-month period and; require disclosure of information in filings with the Commission and to investors and the intermediary facilitating the offering. Securities purchased in a crowdfunding transaction generally cannot be resold for one year. Regulation Crowdfunding offerings are subject to "bad actor" disqualification provisions. States “blue sky” laws also apply. 10 In its first draft report, Peregrine estimates a Northampton/Amherst/Pelham CCA could administer $5M per year in energy efficiency funds. At 2.2 million MWHs of load and 205,000 customers, the Cape Light Compact administers approximately $42M/year. Local Power LLC Draft II CCA 3.0 Equity Lens 16 iv. Finance contract administration charge (a percentage of debt service) c. Delegation of customer DER finance administrator in member municipalities electing to partner to facilitate CCA Energy Equity through Rate Structure to residents and businesses within their jurisdictional boundaries CCA member municipalities are a critical resource for CCA 3.0 because municipalities are widely known and trusted, possess significant resources of high value to CCA DER equity marketing, and can leverage financing or organize trustworthy financing options for local residents and businesses. Municipalities also provide: the operation of multiple scheduled billing and public information direct mail to residents and businesses, leverage in utility interconnect permit and potential government permit and funding applications (depending on what is being developed), and standing as state chartered corporations in state government agencies, concerned either with CCA or renewable energy development or consumer protection. Under CCA 3.0, member municipalities will provide financial administration and potentially municipal revenue bond (“green bond”) financing to individual residential and commercial customers of the CCA whose business or residence is located in its territorial boundaries. The role of municipalities as CCA customer shares partners consists of six activities: i. Municipal bill account charge and security ii. Float revenue bonds (taxable for public benefit, tax-free for private) or contract with state lenders (e.g. Massachusetts zero interest heat loans) or other local lenders (local cooperative banks, credit unions, local banks) for project underwriting of the off-bill financing arrangement (or on-bill if regulations are adopted). iii. Sign and submit utility distribution company interconnect permit application for CCA-developed DER facilities iv. Grant CCA option on municipal properties and rights-of-way for DER development for shared microgrids in which each customer pays a voluntary rate to receive bill credits based on the CCA-administered accumulation of share equity. v. Create data link to the CCA's monthly premium transfer system vi. CCA-Member Municipality Relationship d. CCA-Member Municipal Interaction under CCA 3.0 The interaction between municipal agencies and CCA staff is fairly light, focusing on providing very circumscribed forms of support in a routine schedule, The CCA provides the lion's share of ongoing work to request specific actions from staff, while municipal governing boards make policy decisions at routine meetings. Staff coordination and Local Power LLC Draft II CCA 3.0 Equity Lens 17 cooperation is most time-consuming during formation, subsiding to an account management system, project finance approval protocol, and permitting consultation. Their interaction will occur through the following channels: i. MOU defining CCA services, municipal services and administrative funding ii. Data sharing and shared municipal facilities frame agreement iii. Planning and acceptance iv. CCA premium to municipal loan repayment contract 7. Environmental Justice and the Distribution of Benefits through Equity in Ownership of Renewable Energy In order to extend equity offerings across the local population, diverse forms and technologies of equity is offered based on a shares and cooperative engagement model.11 a. Onsite Shares An onsite shares arrangement involves the physical sharing of stored renewable onsite capacity among occupants and site owner: i. City has finance contract with DER site owner ii. Customer signs up for customer opt-up payments to repay loan iii. CCA transfers percentage of payment to customer equity loan account established by member municipality b. Offsite Shares (Opt-up) An offsite shares arrangement involves an arrangement of virtual sharing or bill credits based on the provision of onsite energy and capacity to the site occupants and owner: i. CCA identifies host CCA customer ii. Municipality offers financing to customer iii. CCA develops project through solicitation or Job Order system iv. CCA negotiates with CCA customer for shares participation 11 Among the project categories listed, more work needs to be done, based on state and local laws and regulations, CCA program policy (e.g. identification of specific stakeholders involved), to define the benefits and risks to the parties involved. Local Power LLC Draft II CCA 3.0 Equity Lens 18 v. Host customer and shares customers opt into CCA premium vi. CCA monthly transfer of percentage of payment to municipal loan accounts of host and customers according to terms c. Onsite Co-ops Onsite cooperatives involve an agreement between site occupants and tenants to physically share onsite electricity and storage: i. Customers join/form building, block or neighborhood co-op ii. Co-op applies to CCA for billing support iii. Co-op applies to Municipality for financing iv. Customer opts up for CCA co-op payback rate v. CCA member municipality signs MOU with CCA Manager d. Co-op Microgrid A cooperative microgrid involves the same arrangement with a microgrid, under which onsite members consuming less from microgrid resources are compensated for providing energy and capacity to onsite energy consumers consuming more. Under the proposed approach, municipalities will either directly offer or arrange/administer financing with other sources, CCA will administer billing, and ownership models will be determined by each cooperative and subject to approval by the CCA and member municipality: i. Owners (municipal finance) ii. Tenants CCA “opt-with” iii. Offsite shareholders CCA opt-up iv. Integrator/operator - CCA job order v. Supplier - CCA RFP (or finance partner PPP) vi. May include generation/capacity sharing and neighbor automobile sharing e. Government/Commercial Microgrid Local Power LLC Draft II CCA 3.0 Equity Lens 19 A government/commercial microgrid involves a virtual sharing of customers in a percentage of an offsite microgrid-enabled DER facility: i. Up to 49% (site owner holds controlling interest) CCA shares participation required ii. Site consumes energy, with share bill credits by CCA or municipality. iii. May include generation/capacity sharing and co-worker automobile sharing f. Electric Vehicle share EV sharing combines the protocols of conventional car sharing groups with Vehicle to Building (V2B) reverse port-based flexible storage integrated with DER: i. CCA builds database of opt-up applicants, requests work information ii. Scheduled use based on proximity and complementarity of schedule iii. Focus on flexible onsite renewable storage, with cost of EV electricity offset by onsite shared use of renewable storage iv. Home based charger, work-based charger - variety of ways to implement this, from offering free/subsidized chargers for sharing rights to free/subsidized energy for purchasing a sharing-enabled charger. h. Electric Vehicle ownership EV finance contracts offer subsidy bundling, finance assistance and discounted electricity rates or batteries in return for the customer's agreement to share battery capacity with neighbors or co-workers: i. financing agreement and storage sharing agreement. ii. consumers purchasing EVs outright could be offered cheaper energy in return for sharing storage or the car with neighbors. i. Offsite share of municipal/commercial/other large customer DER Sharing of non-microgrid DER involves virtual or bill credit-based equity benefits to renters and other small customers through investment in local DER on public, large commercial and institutional sites whose accounts are physically served by those customers. i. Monthly bill credit based on cumulative equity benefits defined by CCA share policy Local Power LLC Draft II CCA 3.0 Equity Lens 20 j. Offsite share of block/neighborhood cooperative Offsite share of block/neighborhood cooperatives allows customers in a neighborhood whose buildings are ineligible for DER or microgrids to pay a voluntary rate to receive equity benefits of an on-block or in-neighborhood DER cooperative that elects to accept its application to invest: i. Cumulative equity benefits defined by CCA-accepted co-op-share agreement k. DERs for residential and business customers who rent account site Apart from shares to extend virtual benefits to all, and administrative support to cooperatives “Portable” DERs for renters are a critical pathway to serving renters, who are often low-, medium-, and fixed-income residents and small to medium commercial customers. Portability confers equity in this case because renters may bring their appliances with them, and increasingly modular renewables, storage and heating systems, once paid for, are the customer’s property and move with them. Offering financial equity not merely to affluent building owners, but all customers, portable DERs offer the financial benefits of equity to all. Conversely, as described above, profound energy transformation requires reaching all people, not just the largest loads or low hanging fruit, which the current state system and market already serve, but the redlined majority: i. IP Thermostats ii. Plug load appliances iii. EVs iv. Modular HVAC (e.g. air source heat pumps) v. Hot water l. DER finance security for renters, customer churn, customers missing payments CCA 3.0 leverages a customer’s bill payment capability to repay financing, as opposed to traditional rebate and subsidy programs, which tend to help reduce costs for (the minority of) customers who can already afford to provide more of the up-front capital costs on their own. While the overall pattern of power customers is typically stable in terms of bill payment, there are some potential payment issue scenarios that will need to be addressed in program design and management. A CCA 3.0 product design will seek to lower stabilize the customer’s bill ‘balance’ as much as possible, such that power generation or savings offsets the added portion of the bill that goes toward capital and finance costs. Local Power LLC Draft II CCA 3.0 Equity Lens 21 Serving low-income customers dictates that there will still be customers (as with any utility company) who fall behind or can’t pay their bill. There also will also be the factor of share customers, whether renting or owning their occupancy, decide to relocate outside the municipality or CCA, and although the repayment for the deployment would transfer to the next occupant the property sits empty instead for an extended period, thus ’stranding’ the equipment. The program should facilitate contracts and mechanisms that allow building owners to approve upgrades, and tenants benefit from lower utility bills. For commercial properties, lease agreements may stipulate that the landlord pays for all capital improvements while the tenant pays for the energy bills. The financed efficiency approach mitigates this barrier, as the landlord is not required to pay for the measures up front, and the tenant enjoys lower bills while also over time paying off the measures installed. The customer agreements associated with asset implementation would fall into two groupings; those agreements with persons or entities with control over the site where the installation would be located (owners or tenants), and those agreements with customers who will own an indirect share in a community installation, but will not have any assets located on their property (whether rented or owned). In general, the on-site customer agreements would cover: ● Access for installation ● Customers roles and rights during any design processes, and installation ● The customer’s rights to asset benefits ● The expected cost of the assets (capital and ongoing maintenance if applicable) and any program financing methods to be used to repay installation costs. This would include conditions applicable to the rights to use of power, shared savings, and billing rates associated with the financing of the assets ● Remedies for any customer default; such as repossession, or activation of any security measures involved in the transaction. The shared asset (off-site) customer agreements would include: ● The customer’s rights to asset benefits ● The customer’s ownership and transfer rights to a share in the asset ● The expected cost of the assets (capital and ongoing maintenance if applicable) and any program financing methods to be used to repay installation costs. This would include billing rates associated with the financing of the assets. 8. Environmental Justice: Distribution of Benefits through Rate Structures Local Power LLC Draft II CCA 3.0 Equity Lens 22 Apart from opt-out enrollment, the key (and widely neglected) leverage of CCAs to support energy equity is its ability to design rate structures, and to offer energy products through rates in the form voluntary premiums, to repay customer DER loans. CCA managers have a variety of ways to charge customer’s premiums dedicated to equity payment, from administrative adders to pay for CCA staff or renewable energy projects, to operational adders to pay for renewable energy facilities and energy efficiency measures. In some cases, adders may be bundled into rates for consumer product transparency. CCAs with utilities offering billing access or favorable metering may use them, but CCAs with limited bill access may employ member municipality water/sewer/tax bills as a repository of CCA premium equity transfers. CCAs with limited metering or billing options may employ commercially available transactive energy platforms and autonomous interoperable DER generation, storage and usage logging for allocating benefits among voluntary participants. Distribution utility bills may be used to collect adders, fees, and or rate adjustments, as permitted by state regulators. a. CCA actions for energy equity through rate structure As described in this document and the CCA 3.0 Pathways report, the CCA will continue to provide the lion’s share of all program work, covering CCA-defined service and supporting member municipality DER customer finance and planning programs, with member municipalities providing targeted assistance and participation in an electronic data exchange. While the grid energy procurement and planning and customer interface functions are taken in house, these basic activities comprise a fraction of work performed by the CCA at first, and shrinking to a small portion of work/budget once DER development is underway, and an insignificant part of the budget once DER operations become new jobs at the CCA. There are five categories of activities CCAs will undertake, listed below., Depending on the size of the CCA, the number of staff corresponds to full or part time equivalents of each of the five categories during launch phase (year 1-2). Depending on the number of customers served by the CCA and success of customer investment in DERs, this number may double or more during development phase (which includes establishment of administrative hardware and software systems and resources) and double or more again when significant levels of DER are operational and energy efficiency retrofit operations are underway. These five elements are funded, defined and placed incrementally, consisting of both staff starting with the CCA manager and growing to administrative, customer service and contract management personnel, and consultants required for setup and launch of new programs or selectively outsourced specialty functions (e.g. transactive energy billing platforms or Virtual Power Plant/microgrid operators, DER battery storage and peak shaving). Contracted functions should be direct reports to the CCA Energy Manager to ensure that the CCA maintains adequate knowledge of contractor functions, maintaining best practices and evaluating whether and when to bring their Local Power LLC Draft II CCA 3.0 Equity Lens 23 functions in house through licensing agreements or other available means. The five CCA activities are: i. Procurement from supplier(s) and design/build/maintain contractors ii. Real-time Desk with demand dispatch ● DER operation ● State agency compliance (state regulator, ISO) ● Public relations iii. Data, administration, communications ● Data management/analysis ● Web, mail (web account) ● Back office ● Transactive energy platform ● Monthly calculation and payments to municipal member customer equity accounts.12 iv. Development, contractor and agency partner management: collect, compile and maintain available utility, government and commercially available data. Manage DER design/build/operate contracts for financed installations (municipal revenue bonds or local banks/credit unions) and demand side management contracts paid for by regulated energy efficiency funds (MA/CA). Use municipal water/sewer or tax bill as allowed by state and local laws and charters. Prepare municipalities’ utility interconnect applications for DERs and any other regulatory filings. Manage all data and technical energy matters. v. Outreach, customer education, civil participation: customer service local phone number/account management, advertising, free media, local activist engagement, civic organization engagement, business organization engagement b. Transactional arrangements between customer, CCA, municipality It is critical to convey that CCA 3.0 is a local democratic initiative that will require community effort in order to achieve a scaled climate impact, confer equity, and develop the local economy. Further, it will reach out to state agencies and local lending institutions to fund the micro-agency's launch and organize low-cost financing for customers who opt-up, -on or -with. The success of the CCA 3.0 financing will depend upon two main partners; the citizen/consumer (individually or in co-ops), and member municipalities: i. An awakened and sustained local civic and economic participation: a Local Green New Deal and Climate Mobilization ii. An active partnership of member municipalities 12 For example, the City of Cincinnati CCA (Ohio) puts information about their programs in both their opt-out notices, as well as in local water bills. See Local Power’s CCA 3.0 Pathways report. Local Power LLC Draft II CCA 3.0 Equity Lens 24 Key administrative and community processes need to be organized in order for the optics on CCA 3.0 to have a clear pathway. These are political and policy decisions, based on public discourse and local political leadership, not technical challenges. Local political leadership must put forward CCA 3.0 for discussion and approval as a self- funded community-based redevelopment “micro-agency”, with increasing local management of CCA programs based on widespread participation by members of the community. Transactions occur in three forms: (1) contract between a customer (and co-op) and her municipality to finance her equity, (2) a voluntary choice of her CCA's "opt-up" (shares) or "op-with" (co-ops) product options to basic service rate; and (3) an agreement between a CCA and a member municipality. Thus, the following transactions will implement the service: i. CCA - member municipality MOU for CCA and municipal account cooperation ii. Municipality ● customer loan ● co-op loan 9. Usage Data and Metering Monthly data is used for ROI forecasting and targeting for aggregate load benefits. Lower retail rates may be accomplished by targeted planning and development to reform the CCA’s Load Duration Curve (8760 hour per year shape). CCAs will employ consultants to assist with rate design. State restrictions on revenue, such as New York, restrict financing by CCAs. The CCA 3.0 program is designed to overcome this barrier through member municipalities offering aligned financing programs to residents and businesses so that CCA bill payments are partially allocated to customers according to a voluntary agreement, and with transparent accounting. The program does not depend upon Time of Use (TOU) meters on all participating customers, though DER facilities will very likely have TOU meters installed as is standard practice on medium-scaled systems. The program will employ generation and storage metering, EV meters, heat and hot water meters to provide data for equity account calculations and loan payments. The CCA will bill consumers for power consumed in the conventional manner according to conventional utility meters, settling the customer’s benefits off-bill under member municipal management. Load shaping will be achieved through long-term development of targeted facilities and avoiding of aggregate load and seasonal peaking, not through short term transactions like load shifting, unless adequate metering is available and such transactions are deemed appropriate marginal monetization strategies. 10. Security and Revenue Local Power LLC Draft II CCA 3.0 Equity Lens 25 Utilities provide collection on power through state-regulated protocols, while municipalities provide collection on finance agreements according to its customer equity finance contracts, such as discontinuation/reduction of benefits, transfer of shares to the common pool, imposition of charges on water/sewer/tax bill, or conventional collection by lenders, depending on the (municipal, state or commercial) underwriter the municipality (or, alternately the CCA) chooses. a. Utility - utility bill with CCA charges imposed according to utility tariffs and state rules b. Municipality - DER finance contract c. Municipal PPAs on properties and rights of way d. Joint Powers Entity/Agency: hold revenue bond authority in addition to grouping municipalities in a CCA e. Rental owners f. Available state and local programs like PACE and zero interest loans (Massachusetts) f. Local bank financing g. Third party/developer “tax appetite” financing via the Investment Tax Credit (ITC) / assessing the transfer of ownership provisions after tax period ends. 11. Customer Experience of a Universal Shares Offering Residents and businesses in a CCA 3.0 program will be offered more than the current “standard offer” of conventional service mitigated RECs (when they do not opt-out) or an option of paying a premium above their rate for an additional purchase of RECs (when they opt in). Instead they are offered DER equity and/or DER equity benefits, by paying a premium above their rate in order to incrementally accumulate those benefits through monthly bill payments. This approach will reproduce the general return on investment (ROI) calculated by homeowners who purchase photovoltaic systems for their homes, but not require that the customer own the property they occupy, nor only serve property owners with ideal conditions like unimpeded southwest facing rooftops. Included in this option will be bundled an energy efficiency analysis and shared savings offering to reduce load in renters as well as owners' occupancies. There are five categories of savings: a. Opt-up to shares b. Notification of project on line Local Power LLC Draft II CCA 3.0 Equity Lens 26 c. Energy efficiency shared savings d. Receive monthly account of paybacks e. Non-bill payment- suspension of share payment and transfer to water/sewer/tax department collection as allowed 12. Distributed Energy Resources (DER) Development Planning DER development is driven by the CCA with the municipality as client, and customers as voluntary third-party beneficiaries. The CCA leads the development process: a. CCA develops member municipal properties b. The municipality is lender and holds title until customer loan repayment is complete, after which it manages the account in relation to the CCA, which calculates the benefits defined in the municipality’s customer finance contract with a customer or cooperative c. CCA leads municipal permitting process for residential and commercial properties d. CCA creates Job Order System to accommodate local contractor participation and trains/coordinates local labor training and placement programs e. Municipal financing is based on a CCA agreement f. Medium-scale DER projects (100kw-500kw) are financed g. Interconnect permitting is non-exporting 13. Inclusive Representation Success in engaging low-, middle-, and fixed- income residents and small- and medium-sized businesses depends upon both civic and economic participation, in a synergistic, open, encouraging protocol to facilitate high participation rates across all socioeconomic categories and customer types. An inclusive program will depend upon a variety of engagement strategies to reach a diverse population of residents and businesses. Most critical is a deliberate strategy to encourage civic participation to reflect the program’s emphasis on equity participation, as well as active citizen/business-led cooperative projects. On the civic engagement side, a CCA 3.0 program should form voluntary citizen participation committees to work on policy questions and technical questions, contributing to staff workload and consultant work, engaging and informing the Local Power LLC Draft II CCA 3.0 Equity Lens 27 community at the local level, and reporting to the CCA governing board at monthly meetings. Advisory boards may be created to focus on grassroots engagement of neighborhood organizations and activists to encourage low-, middle- and fixed-income customers, as well as local businesses, to participate in the meetings. Issue-Advisory committees are useful to focus on key program goals such as participation of disadvantaged and redlined residents and often redlined business customers, as described in Local Power’s previous CCA 3.0 Pathways report. On the economic engagement side, using customer data from the utility and member municipalities as the basis for customer engagement, the CCA manages a robust web database account management system and CCA-staffed local call center. The CCA actively engages shares/co-op consumers and DER site hosts from communities including local climate activists, civic organizations and business organizations. The CCA routinely inserts announcements in scheduled municipal billing and public announcements, conducting direct mail for data-targeted offers to customers, advertising and free media. CCA 3.0 programs will rely on a diverse platform of mostly low-cost, special access public purpose and conventional marketing, subscription and account management resources: a. Database b. Software-as-a-Service and/or Transactive Energy Platform, c. Utility bill rate ready/bill ready submission, d. Monthly water/sewer bill or annual tax bill submission, e. CCA and member municipality web account and public email broadcast lists, f. Direct mail, g. Speakers bureau to local community groups and business organizations, h. Paid advertising, i. Free media. Local Power LLC Draft II CCA 3.0 Equity Lens 28 Appendix A: Glossary of Terms 8760 -- The electricity usage pattern over every hour in a year. AMI -- Advanced Metering Infrastructure -- sometimes called Smart Meters -- meters that facilitate realtime collection of customer energy usage for the purpose of analysis and DER integration. CCA -- Community Choice Aggregation -- the statutory mandate that allows municipalities, solely or in groups, to become the buyer of electricity for customers within its jurisdiction on an opt-out basis. The details and powers of a CCAs statutory authority vary slightly by state. DSM -- Demand Side Management -- the dynamic monitoring and control of customer demand through energy efficiency and demand response technologies. DER -- Distributed Energy Resources -- renewable and efficient technologies that provide energy at or near the point of consumption. DERMS -- Distributed Energy Resource Management System -- the software and hardware that allows DERs to be integrated DOER -- Massachusetts Department of Energy Resources -- a research body similar to NYSERDA and the CEC DPU -- Massachusetts Department of Public Utilities -- the state utility regulator. DR - Demand Response -- the ability to curtail loads and dispatch power in response to specific conditions and needs, enabled by smart technologies like AMI meters and IP thermostats. EE -- Energy Efficiency ESCO -- an energy services company, in many states the third party suppliers of electricity to CCAs FiT -- Feed-in-Tariff -- a fixed price by kWh paid for all the power produced by a renewable energy installation. GW -- Gigawatts IoT -- Internet of things IP -- Internet Protocol -- a technology that can communicate with and be controlled remotely via the internet. ISO -- Independent System Operator -- regional electricity market clearing entities. They are non-profit organizations that facilitate bulk electricity transactions, among other related activities. New England by ISO-NE, or frequently “NEISO” ITC -- Investment Tax Credit -- the ITC a corporate tax credit, equal in the case of PV projects to 30% of the expenditures on a given project. kWh -- Kilowatt hour, the unit that is used to price the sale of electricity. Load Duration Curve -- 8,760 hour per year demand pattern, in this case defined by eligible accounts in a CCA service territory, and differentiated by commercial and residential sources, representing actual recorded load and billed purchased energy, and representable in a 365 leaf fluctuating sine curve. MW -- Megawatt Microgrid -- Integration of DERs to provide on-site as opposed to remotely sourced electricity. Local Power LLC Draft II CCA 3.0 Equity Lens 29 NEM -- Net Energy Metering -- a tariff that pays a set rate for the generation of electricity from a renewable source while providing electricity to a meter at all times. Production and consumption are netting against each other. Negawatt/Negawatt Hour -- A negawatt hour is the assignment of monetary value to reductions in the use of electricity; a theoretical unit of power representing an amount of energy saved. The energy saved is a direct result of energy conservation or increased efficiency. OBF or On-bill financing/repayment -- The ability to finance DER, traditionally EE, measures over a period of time, often years, embedded within the bill or rate that a customer pays on a monthly basis for electricity, heating fuel or water -- a way of minimizing or eliminating upfront costs to adopters. Opt-in -- Every customer offered service is automatically enrolled on an opt-out basis, meaning if they do not elect to remain with the distribution utility’s Basic Service or another supply if available, they will be enrolled in the CCA, meaning they have “opted- in.” Opt-up -- Under the CCA 3.0 program design, customers may volunteer to pay a premium to receive shares, ideally through a municipal loan agreement and billing, or else through a CCA-administered Transactive Energy Platform, using lmunicipal bonds or other public funding, local banks or if necessary commercial project finance for facilities with a tax-based ownership transfer or “flip” provisions to the co-op/shares customer. Thus, customers “opt-up” to equity. Opt-with -- the CCA 3.0 program will administer a similar service to active customer DER cooperatives, which would be “opting-with” one’s neighbors. PACE -- Property Assessed Clean Energy -- is a financing mechanism that allows DER installations to be repaid on a property tax or other municipally assessed bill over a duration of as many as 20 years. It can cover 100% of costs for a project and when it paid off, energy generated or saved by installations can make participants revenue positive into the future. Recent developments, sometimes called CivicPACE, allow community solar installations on multi-residential buildings and participation by non- profits. SaaS -- Software-as-a-Service -- commercially licensed or contracted cloud-based platforms to provide DER back office services, including reporting, customer care, online billing and payment, and utility electronic data interface (EDI) communication. TOU Metering -- Time of Use Metering -- is a method of measuring and charging a utility customer's energy consumption based on when the energy is used. Utility companies charge more during the time of day when electricity use is higher. TOU rates vary by region and utility. Transactive Energy Platform -- Transactive energy systems comprised of coordinated participants that use a system of economic and control mechanisms that allows the dynamic balance of supply and demand across the entire electrical infrastructure using value as a key operational parameter. Regulations vary by state.