NASEO, EPC, RF and CITI Officially Launch Wheel in NYC and PA

On Friday, March 28, NASEO joined the Energy Programs Consortium (EPC), Renewable Funding (RF), and Citi at Citi headquarters in New York City to officially launch the Warehouse for Energy Efficiency Loans (WHEEL).  WHEEL is dramatically leveraging state and private dollars and opening the residential energy efficiency finance market to large institutional investors to bring energy efficiency to scale.  Marshall Salant, head of alternative energy finance at Citi, described the exciting public-private partnership as “a new, large scale source of capital to help homeowners finance energy efficiency improvements and tap into the unmet demand from institutional investors wanting to invest in this new market.”  On April 9, WHEEL held a press conference on home energy loan markets and financing platforms in Pittsburgh.  Rob McCord, Pennsylvania Treasurer, called WHEEL the culmination of a careful strategy by the PA Treasury—one of the architects of WHEEL—to develop a national capital market for energy efficiency loans.