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Your program's financing goals and objectives and lending partners will help orient and guide you as you work with other partners and stakeholders to design your financing activities. The demand for financing will be influenced by market conditions, structure of your program, and the design of the loan product. In BBNP programs, approximately 15-25% of homeowners utilized a loan product offered by the program, with some programs achieving much higher rates of financing uptake by offering competitive interest rates and efficient loan approvals.
Many programs start by outlining the basic parameters for their financing strategy, then solicit and choose lending partners who can help finalize design decisions (which is the order presented in these handbooks). The steps to develop and deliver loans, however, do not need to be performed in this sequence. Instead, you may choose to work with prospective partners on financing program design but complete all major finance design decisions before entering into a partnership with a lender. Regardless of order, keep in mind that lenders can provide valuable feedback on design decisions that can impact your program’s success.
Your financing design decisions go hand in hand with decisions you make about other program components. For example, financing is often closely coupled with rebates and other non-financial incentives (discussed in Marketing & Outreach-Make Design Decisions). The design decisions you make with your partners will also serve as the initial steps for the development of your financing implementation and evaluation plans.
DOE’s State and Local Solution Center contains information about key financing structures.
EPA’s Clean Energy Financing Programs: A Decision Resource for States and Communities helps state and local governments design the appropriate finance programs for their jurisdiction by describing financing program options, key program components, and factors to consider.
The Energy Efficiency Financing Program Implementation Primer, developed by the State and Local Energy Efficiency Action Network, provides an overview of considerations for designing and implementing successful energy efficiency financing programs.
Getting the Biggest Bang for the Buck: Exploring the Rationales and Design Options for Energy Efficiency Financing Programs, developed by Lawrence Berkeley National Laboratory, provides an overview of the fundamentals of energy efficiency financing program planning and design and provides tools for deciding the objectives and mechanics of energy efficiency financing initiatives.
Based on the financing needs you identified for your community and the financing goals and objectives you established for your program, it is now time to design your program’s financing activities.
As your program begins to make decisions regarding financing activities, you are likely to encounter many terms that you may not be familiar with. Please refer to the Glossary of Key Financing Terms, developed by DOE, for definitions of some of these terms.
Your market analysis can help identify the shortcomings of existing loan products and financing programs, as well as opportunities for your program to facilitate greater loan uptake.
Improve the loan terms offered to homeowners (e.g., lower interest rates, less restrictive loan eligibility requirements, longer loan repayment periods).
Enabling homeowners to arrange financing through contractors to make the process simpler for them.
Generally, the longer the loan application and approval process, the less likely a homeowner will undertake the energy upgrade.
Your contractors will be a critical ally in your efforts to make the loan process simpler. Most energy efficiency improvements are sold and installed by contractors who have an influential, face-to-face relationship with the homeowner. Homeowners may be actively seeking energy efficiency improvements, but they are rarely in the market for financing. Homeowners are looking to get the best price for the improvements they are making, and tend to be appreciative when contractors can offer financing options to facilitate the sale.
Your market analysis will likely show that contractors can be skeptical about the benefits of financing because it can complicate the sale, slow down payment, and add paperwork to the process. Consequently, your program may find that addressing contractor concerns by facilitating quick loan approvals, limiting the amount of paperwork, and ensuring that contractors receive payment within a few days of completing work can greatly facilitate the uptake of energy efficiency improvements in your community.
The first consideration in program design is to understand the needs of your participating contractors. Residential HVAC and home improvement contractors are generally small businesses with annual sales of less than $5 million. They retain little or no capital in their business, meaning they are unable to loan money directly because they do not have the funds themselves.
Contractors typically require quick payments from customers because they don’t have large lines of credit, and often don’t have people who can help with administrative work. When asked about payment options, the first response, especially among smaller contractors, is that they want their customers to pay cash (including checks and credit cards).
A simple process and ongoing cash flow are critical to contractor success, and these considerations drive their thinking when it comes to customer financing.
High interest rates – homeowners are typically turned off at rates above 9.9%.
Restrictive loan eligibility requirements – underwriting standards that establish minimum credit scores of 660 generally approve 65% of applicants, but as minimum scores increase towards the 700s, approval rates decline to the mid-50% range, which contractors typically find unsatisfactory. (Loan applicants typically don't know their credit score and/or the program's minimum credit score requirements before applying, so the universe of applicants remains the same regardless of program rules. As the minimum score requirement increases, more applicants are rejected for an insufficient score and approval rates decline).
Short loan repayment periods (loan term) – the shorter the loan repayment period, the higher monthly payments are. Longer repayment periods result in lower monthly payments for homeowners, and make it easier for contractors to close deals or add additional energy efficient measures to projects.
To increase access to financing, your program design can focus on offering loans that are more attractive to homeowners.
Better Buildings Neighborhood Program partners found that interest rates in the 4–6% range were often low enough to improve loan volume.
Driving loan volume and contractor participation with a low-rate loan product typically requires a continuous subsidy for two to three years, with no indication that the loan product will be terminated. The lowest market rate for unsecured home energy loans is around 8%, assuming a nonprofit lender (such as a credit union) with a 3% cost of funds, 2% for origination, 2% for servicing, and 1% for losses.
One shortcoming of providing a low interest rate through a credit enhancement is the cost to your program of doing so. Assuming an average loan size of $8,000, reducing the interest rate could require a one-time payment to the financial institution of $200 to $300 for each percentage point reduction (assuming a 1% point reduction reduces interest revenue by $80 per year, each year, for a four-year term). The cost must also be paid as an upfront fee because financial institutions must record the interest rate and other loan details at time of origination.
Consequently, it is much less expensive to choose a lender that has access to low-cost capital (e.g., credit unions have low cost deposits) so your program is reducing an interest rate that is already low.
Michigan Saves is a private, nonprofit entity whose mission is to increase the availability of energy efficiency financing in all market sectors.
During this process, Michigan Saves contacted the Michigan Credit Union League, which identified 13 credit unions that helped Michigan Saves design the financial product and process. A loan loss reserve was used to allow its financial partners to offer interest rates in the range of 4-6%. Six of the original thirteen credit unions participated in the program launch; as of early 2014, there are nine credit unions participating.
Between October 2012 and February 2014, Michigan Saves closed more than 3,400 loans with a total value of more than $27 million. The program approves approximately 80 loans each month. The applicant approval rate is approximately 60%.
To help homeowners finance home energy upgrades, state and local governments can develop and implement residential Property Assessed Clean Energy (PACE) programs.
Residential PACE allows homeowners to finance energy efficiency, renewable energy, water conservation, and other home improvements that have a public purpose (as defined in state law) through an assessment collected with their property taxes. Depending on state or municipal law and the PACE program structure, the PACE obligation may be secured by a lien placed on the home, with principal and interest repaid through the local government property tax assessment. If the property is sold, the assessment may be able to stay with the property if the buyer agrees and the new mortgage lender allows.
States establish PACE programs by enacting legislation that authorizes the adoption of PACE assessment districts at the local government level. Local governments authorize PACE in their jurisdictions by enacting an ordinance, resolution, or other policy that authorizes the local government to establish voluntary special assessments for energy, water, and related improvements financed through local government (or special assessment district) property assessment and collection procedures.
Between 2009 and 2016, 31 states passed PACE-enabling legislation, the number of states with active PACE programs (including commercial and/or residential PACE) grew from two to 16, and more than 100,000 homeowners made energy efficiency and renewable energy improvements to their homes through residential PACE programs. By 2016, residential PACE programs allowed homeowners to invest nearly $2 billion in energy efficiency, solar, and other upgrades to their homes.
In November 2016, the U.S. Department of Energy released Best Practice Guidelines for Residential PACE Financing Programs. DOE developed these revisions to the original “Guidelines for Pilot PACE Financing Programs,” initially issued on May 7, 2010, to reflect the evolving structure of the PACE market and incorporate lessons learned from various PACE programs that have been successfully implemented. The DOE guidelines outline best practices that can help state and local governments, PACE program administrators, contractors, and other partners develop and implement programs and improvements that effectively deliver home energy and related upgrades.
Enhanced PACE eligibility criteria, including requirements for review of income, existing debt obligations and credit score; clear and understandable consumer disclosures of all PACE terms, including interest rates and fees, repayment procedures, and lien requirements.
Additional consumer protections for low-income households, including enhanced screening procedures (e.g., verbal confirmation of PACE terms with the homeowner), written disclosures, and recommendations to structure PACE financing to be cost-effective for low-income participants.
Recommendations for quality assurance, contractor management, and enforcement procedures.
Recommendations for access to dispute resolution procedures or other mechanisms if work is performed improperly.
More information on PACE programs is available on the DOE State & Local Solution Center.
Improving existing or creating new forms of energy efficiency financing generally consists of addressing one or more of the three elements key to successful programs: confidence, capital, and convenience (referred to as the “Three Cs”).
Confidence: Do borrowers and contractors know about and trust the lenders that offer the financing?
Convenience: Is the process for obtaining financing simple and quick for both the contractor and the customer?
Capital: Does the program provide access to financing (capital) with attractive rates, minimal fees, and good terms?
Economic support (the “capital” of the three Cs).
Sponsoring an existing loan product or program is a simple, low-cost, low-risk approach to making energy efficiency financing more available and attractive in your community. It requires no capital, it needs little to no staff expertise relative to financing, and your program does not need to assume any credit or regulatory risk. By providing sponsorship and marketing support, you can improve the loan product’s or program’s name recognition and drive loan application volume.
Strengthening existing marketing and outreach of the loan product performed by lenders, contractors, or other programs through activities such as customer outreach (e.g., flyers, web content, advertisements, meetings, etc.) and/or contractor trainings.
When Colorado’s Xcel Energy set out to establish a program to offer financing to the residential market, they decided to partner with lenders and sponsor existing loan products rather than provide a loan loss reserve, on-bill repayment, or other more costly and resource-intense financing option. Xcel first contracted with a finance consultant to evaluate partnership opportunities. The consultant identified two existing residential energy efficiency loans: (1) an unsecured energy efficiency loan offered by Elevations Credit Union and (2) the federally insured PowerSaver second lien product offered by Bank of Colorado and WJ Bradley Mortgage Company.
Xcel chose to sponsor both products and signed letters of “alliance” with all three financial institutions. Under this arrangement, Xcel works with the lenders to present their loan products to contractors and Xcel customers through workshops, their website, and other promotional avenues. In addition, Xcel educates contractors participating in their various demand-side management programs about the loan products so they can offer them to their customers.
Xcel’s name and sponsorship is extremely valuable to the lenders as it gives their product instant name recognition and credibility, which helps them increase loan volume. Xcel benefits from the arrangement by being able to offer financing to their residential market sector without taking on substantial cost or risk.
Administered by the U.S. Department of Housing and Urban Development (HUD) Federal Housing Administration (FHA) and Fannie Mae, Green Refinance Plus allows owners of existing affordable rental housing properties to refinance into new mortgages that include funding for energy- and water-saving upgrades, along with other needed property renovations.
Every 10-15 years, owners of existing multifamily affordable properties typically refinance their mortgages. In older apartment buildings, however, owners are hard-pressed to find additional financing to maintain or improve the physical condition of their properties, including making energy-efficient upgrades. Green Refinance Plus is intended to refinance the expiring mortgages of Low Income Housing Tax Credit and other affordable housing projects and to lower annual operating costs by reducing energy consumption.
Property improvements that save energy and water costs for owners and tenants, such as energy efficient windows and ENERGY STAR appliances.
Borrowers obtain a "Green Physical Needs Assessment" completed by a qualified provider (e.g., someone who is either: certified to complete energy audits by RESNET or BPI; a Certified Energy Manager (CEM) or state equivalent; a registered architect; a registered professional engineer; a RESNET certified Home Energy Rater; or a BPI Certified Building Analyst). This assessment identifies property improvements that both reduce energy and operating costs and will help borrowers make rehabilitation choices that will give them the greatest energy savings for their investment. Property owners are able to select the energy- efficiency upgrades that make the most economic sense for their properties.
Learn more about Green Refinance Plus and program requirements.
If your program has staff with financing expertise and loan process and/or systems capabilities, you may be able to improve the interactions between lenders, contractors, and customers in a way that streamlines the loan process (e.g., lower-cost, quicker, simpler, easier).
Conduct quality assurance inspections in a timely manner so contractors can be paid more quickly.
Energy efficiency programs have worked with financial partners to streamline the loan approval process. Pennsylvania's Keystone Home Energy Loan Program, in partnership with EnergyWorks Philadelphia, works with multiple financial institutions to provide quick-approval energy efficiency loans, often within two hours of receiving the application. This is accomplished by underwriting based on a minimum credit score and income and employment information “stated” by the borrower, rather than “verified” via the employer.
In partnership with the Green Madison program, Summit Credit Union is developing an online application with "auto-decisioning" features that let a customer know immediately if they qualify for a loan. The program then follows up by checking income levels and employing other safeguards.
To increase the number of homeowners eligible for financing, a number of energy efficiency financing programs are deploying alternative underwriting criteria to identify credit-worthy borrowers that do not meet traditional lending standards.
NYSERDA’s Green Jobs–Green New York (GJGNY) initiative is using a two-tiered underwriting process to expand access to financing for its Home Performance with ENERGY STAR program.
Tier One underwriting uses standard FICO credit score (minimum 640) and debt to income (DTI) (maximum 50%) metrics to evaluate creditworthiness; 43% of applicants are rejected for this financing. NYSERDA is trying to reduce this decline rate with its Tier Two standards, which offer households with low credit scores or high DTIs a second opportunity to qualify for GJGNY financing. For households with credit scores below 640, NYSERDA Tier Two standards increase the maximum DTI to 55% and use utility bill repayment history in lieu of credit score to assess creditworthiness. For households with FICO scores above 680 that were rejected from Tier One because of their DTI ratios, Tier Two standards increase the maximum DTI to 70% and use utility bill repayment history.
Update: As of July 2015, NYSERDA allowed credit scores down to 540 under its loan program. A total of 8,581 Tier 1 loans and 1,312 Tier 2 loans have closed, valued at more than $95 million and $14 million respectively. Loan approval rates are over 75 percent.
Craft3, a participating CDFI lender in Enhabit, also uses utility bill repayment history to evaluate creditworthiness of borrowers. While Craft3’s underwriting process includes a credit score check and review of other debt obligations (e.g., bankruptcies, liens, judgments), instead of analyzing an applicant’s DTI, Craft3 examines utility bill repayment history. Using utility bill repayment history in lieu of DTI significantly reduces loan underwriting expenses. Because more households in many programs are rejected for financing due to high DTI than low credit scores, this strategy may be an effective approach for some households that can effectively manage their finances, and utilize cost savings from efficiency improvements to help offset the cost of the loan. As of December 2013, Craft3 had completed more than 2,600 loans valued at $33.4 million, with an average loan amount of $12,500. While the loans have only been made for a few years, loan default rates have been below industry averages.
Source: Scaling Energy Efficiency in the Heart of the Residential Market: Increasing Middle America's Access to Capital for Energy Improvements, Lawrence Berkeley National Laboratory, 2012.
If your program is fortunate enough to have financial assets available or can secure such assets (“capital”), you may seek to improve the core elements of a loan product such as the interest rate, terms, fees, applicant approval rates, etc. You can do this by making funds available to lenders to offset their costs related to operations or credit losses, or simply to buy down the interest rate.
There are two primary types of economic support programs often use: credit enhancements and revolving loan funds.
Credit enhancements are a class of tools that reduce lender or investor risk associated with offering loans. Credit enhancements deliver capital providers with a level of protection against losses in the event of borrower default or delinquency. Many home energy upgrade programs include credit enhancements to make loans for home energy upgrades more accessible to a broader target audience.
Credit enhancements can motivate lenders to broaden consumer access to home energy loans, extend the length of time in which a loan is due, and lower interest rates. The terms of credit enhancements can also be used to negotiate favorable loan products and relax loan eligibility requirements.
Loan loss reserves (LLRs). An LLR sets aside a limited pool of funds from which lenders can recover a portion of their losses in the event of borrower defaults. LLRs are one of the most common credit enhancements due to their relative ease of implementation (see call-out box below).
Loan guarantees. A loan guarantee enables lenders to recover all potential losses in the event of borrower default.
Debt service reserve funds (DSRF). A DSRF sets aside a limited pool of funds from which lenders or investors can recover overdue debt service payments on a financial product.
Subordinated capital structures. Program administrators can invest subordinated capital in a loan or pool of loans alongside privately funded senior capital. In the event of customer defaults, the subordinated capital absorbs all losses. The senior capital does not experience any losses until all of the subordinated capital has been exhausted.
The Credit Enhancement Overview Guide, developed by the Financing Solutions Working Group of the State and Local Energy Efficiency Action Network, describes the various types of credit enhancements, the trade-offs among them, and what they can be reasonably expected to accomplish to advance energy efficiency goals.
Why Offer Credit Enhancements? - An overview of the program objectives that may warrant deploying credit enhancements.
Credit Enhancement Basics - A description of common credit enhancement tools and their trade-offs.
Additional Resources – A listing of resources on designing and deploying credit enhancements.
Loan loss reserves (LLRs) are the most commonly used credit enhancement, frequently deployed to reduce borrowing costs or extend borrowing terms for program participants that would likely qualify for other, often more expensive loan products.
Under an LLR, funds—typically public or utility—are set aside (“reserved”) as loans are issued (e.g., typically 5% of the total portfolio of loans). In this way, a 5% LLR on a $60 million loan portfolio provides up to $3 million to cover a lender’s losses, should they occur.
The LLR may be specific to a portion of the loss on individual loans. For example, compensation for losses is often limited to 90% of any individual loan, ensuring a natural incentive for lenders to apply appropriate underwriting criteria to all loans.
Under an LLR, funds are placed into an escrow deposit account―either with a separate institution or under their own administration. As loans are made, escrowed funds are transferred to an LLR fund in the amounts specified by the LLR agreement. Projects are then completed and loans are repaid over time according to the loan agreement between the financial partner and the borrower.
Much of the administrative work is done by financial institutions with pre-existing capacity and experience making loans.
Programs can stimulate market transformation and eventually function without government capital, by proving to lenders that home energy loans can be profitable.
Rather than simply lowering interest rates, a few innovative programs are using credit enhancements to incentivize their financial partners to offer energy improvement loans to households that would otherwise not have access to capital.
The city of Indianapolis is using a large LLR—with 50% of losses covered—to households in its target income demographic (low to moderate income households).
The cities of Madison and Milwaukee used part of their DOE Better Buildings grant to structure a $3 million loan loss reserve to expand access to their loan product. Madison’s and Milwaukee’s 5% LLR reduces losses for their financial partner, Summit Credit Union, in the event of loan defaults and supports a loan pool of up to $60 million. It has been structured so that Summit Credit Union can recover more funds from the LLR on each loan default for lower-credit-quality consumers.
A revolving loan fund—which is a source of capital from which loans are made to eligible borrowers—can also be an important component of energy efficiency finance programs.
Loans are issued from the initial capital used to set up the fund, and as loans are repaid, additional loans are made. Often, similarly rated loans are grouped together as an investment and resold to secondary market investors, providing program administrators with an additional replenishing source of capital for new loans.
In 2010, St. Lucie County partnered with local financial institutions and community leaders to establish a community development financial institution (CDFI), which manages the Solar and Energy Loan Fund (SELF). SELF, a revolving loan fund capitalized with seed money from the Better Buildings Neighborhood Program, provides affordable clean energy financing to low-to-moderate-income homeowners and small businesses.
In 2011, SELF began taking applications for weatherization (i.e., insulation, caulking, window and door replacement), replacement of inefficient air-conditioning systems, and installation of solar thermal and solar photovoltaic systems. The program offers loan amounts from $1,000 to $50,000 with rates ranging from 6.5% to 9% depending on the installed technology. Maximum terms of up to 15 years are available.
The SELF funding goal is to issue $10 million in loans by 2017. As of early 2014, the SELF program has closed 249 loans valued at over $2 million. Cumulative energy savings exceed 1 million kilowatt-hours and the avoidance of 980 metric tons of carbon dioxide. The program has also generated nearly 11,000 labor hours for local contractors.
A revolving loan fund is a particularly effective tool for energy efficiency improvements in the $2,000 to $10,000 range (e.g., time-sensitive replacement of failed equipment, home efficiency upgrades such as attic or wall insulation), because few homeowners have immediate access to this amount of cash and they are reluctant to fund this amount with a credit card, as it will likely approach the card’s credit limit.
On-bill financing, which is a mechanism that allows repayment of loans through a customer’s utility bills.
Revolving loan funds can also leverage program funding from sponsors and mitigate risk for investors, allowing consumers with lower credit scores to receive loans.
Energy efficient mortgages (EEMs) allow borrowers to include the cost of energy efficiency improvements in a mortgage. Lenders offer EEMs through allowing increases in the amount that a borrower can borrow relative to the property value and the debt that the borrower is eligible to carry relative to their income. The Federal Housing Administration and Fannie Mae offer versions of EEMs, including the FHA 203(k) Rehabilitation Mortgage Insurance Program.
DOE developed the Home Energy Score as a low cost and reliable method for estimating the energy use of a home and providing a corresponding “score” to rate the relative energy efficiency of the home based on area location. The Home Energy Score uses a systematic approach to provide a reliable and scientifically-based analysis of a home’s energy characteristics and overall energy efficiency. The Home Energy Score uses a 10-point scale with a “1” applying to homes likely to use a large amount of energy and a “10” corresponding to the most energy efficient homes. An average home in the United States will score a “5” on the scale.
Homes that score a “6” or higher on the Home Energy Score scale can qualify for a higher mortgage. HUD has developed guidance on Home Energy Score and mortgages.
Learn more about on-bill financing and repayment programs.
They are relatively simple to set up compared to other options.
Many cities and states already have revolving loan funds that can be used for energy upgrades, so expert assistance is available.
Funds revolve indefinitely, creating a source of funding that will be available in the long term as long as capital is not exhausted from loan defaults.
Programs can change eligibility requirements of loan applicants over time as market conditions warrant.
More information about revolving loan funds is available through the DOE State and Local Solution Center.
Plan to evaluate each function and determine the functions that (1) your program will perform (those that match your capabilities and that you can perform at a lower cost, quicker, more accurately, etc.) and (2) those that your program partners will perform.
If you haven’t already done so when establishing partnerships with lenders, develop a list of the functions to be performed by your partners and use it as the basis for a scope of services or scope of work document. Include this list as selection criteria during the procurement of partners and subcontractors. The functions should also be documented in your program’s implementation plan.
Ultimately, you will likely be looking to create a sustainable market for home energy loans in your community that doesn’t require support from your program, so keep that in mind as you make design decisions.
Revolving loan funds and credit enhancements can be effective tools to prove to the market that home energy loans can be profitable and that the associated risk is for lenders is manageable, but they are probably not sustainable strategies in the long run.
The graphic below illustrates how the development of an initial revolving loan fund, converting over time to a loan loss reserve, can lead to a well functioning private market.
Collect data to show that home energy loans can be a profitable line of business for lenders, and a useful tool for homeowners to use to pay for energy upgrades. Lenders must perceive home energy lending to be a profitable, creditworthy, and sizable business.
Leverage credit enhancement monies. Home energy lending programs that rely on a credit enhancement can leverage modest amounts of grant capital into much larger amounts of lending capital. Better Building Neighborhood partners all used federal funds to attract private sector investment.
Build and/or access the secondary market. Some lenders will decide to originate loans, assemble portfolios, and then seek to refinance or sell the portfolios to a “secondary market” capital source. A typical target portfolio size for an early-stage secondary market transaction is $20 to $25 million although later transactions may be much larger, in excess of $100 million. Availability of financing from the secondary market can drive development of home energy loans and also lower the costs of capital. However, this approach is only possible if underwriting for all of the loans in the portfolio is consistent. It is also made easier if underwriting is consistent with other loans being issued across the country. DOE is supporting work to develop a standard set of underwriting criteria for the secondary market. These criteria would create a standard loan product that is uniform enough for secondary market investors to understand its risks and consider a purchase of the loan product.
Link clean energy finance programs to other state government development, finance, and financial system support/reform initiatives. State governments throughout the nation are seeking new ways to increase home energy lending as a means to meet sustainability goals and enhance economic development and job creation. Consider linking your home energy finance programs to these initiatives to help turn home energy financing into a leading economic development strategy.
Developing new energy efficiency loan products requires financial expertise and resources that not every program has available or that might not even be necessary. Finding and promoting existing energy efficiency loan products, such as loans that may be offered by a local credit union, your state energy office, or national lenders, or loan products available to contractor networks that meet the needs of your target audience is a simpler, low-cost, low-risk approach to improving access to financing for home energy upgrades. Many programs have partnered with lenders to offer the Federal Housing Administration’s PowerSaver Loans, a trio of national loan products available for home energy efficiency improvements.
EnergyWorks of Philadelphia decided to leverage an established and successful state financing program rather than starting a financing initiative from scratch. This approach enabled the program to offer loans more quickly and leverage existing consumer and contractor acceptance of its loan offerings. The program leveraged the Keystone Home Energy Loan Program (Keystone HELP), Pennsylvania’s award-winning residential financing program with low fixed rates for single measure and whole house improvements. EnergyWorks provided financial support from its Better Buildings Neighborhood Program grant to make Keystone HELP loans available at even lower interest rates to homeowners in the Greater Philadelphia area. By leveraging the existing Keystone HELP loan, and by providing additional consumer and contractor outreach, EnergyWorks was able to help finance over 1,900 upgrades totaling more than $17 million between 2010 and 2013. This represented an annualized increase of close to 40% over pre-EnergyWorks Keystone HELP volume in the Philadelphia region.
In addition to helping to develop new loan products, Efficiency Maine offers and promotes the use of the federally insured FHA unsecured and secured PowerSaver loans. The PowerSaver loan is an energy-related home improvement loan offered under the Federal Housing Administration Title 1 home improvement loan insurance program. PowerSaver provides homeowners with low-cost, long-term funds to make cost-effective energy efficiency improvements to their homes. FHA supports lenders by offering insurance that covers 90% of the loss amount on loans up to $25,000. Between 2010 and October 2013, AFC First—Efficiency Maine’s authorized lender—issued 106 PowerSaver loans with a total loan value of nearly $1.3 million, and average loan amount of $12,000.
When Colorado’s Xcel Energy set out to establish a program to offer financing to the residential market, they decided to partner with lenders and sponsor existing loan products rather than provide a loan loss reserve, on-bill repayment, or other more costly and resource-intense financing option. Xcel first contracted with a finance consultant to evaluate partnership opportunities. The consultant identified two existing residential energy efficiency loans: an unsecured energy efficiency loan offered by Elevations Credit Union, and the federally insured PowerSaver second lien product offered by Bank of Colorado and WJ Bradley Mortgage Company. Xcel chose to sponsor both products and signed letters of alliance with all three financial institutions. Under this arrangement, Xcel works with the lenders to present their loan products to contractors and Xcel customers through workshops, their website, and other promotional avenues.
Complicated loan and program application processes have deterred many potential customers from following through with an upgrade. Delays and overly burdensome requirements raise barriers to participation. Many programs have successfully employed strategies to reduce the number of requirements that homeowners must meet in order to receive a loan, and to speed the processing of loan applications so projects can proceed quickly once a homeowner decides to move forward.
Enhabit, formerly Clean Energy Works Oregon, worked with Craft3, a non-profit community development financing institution (CDFI), to help more homeowners qualify for loans and streamline the loan application process. Their approach was to use utility repayment history as a proxy for credit. Craft3’s underwriting process includes a credit score check and review of other debt obligations (e.g., bankruptcies, liens, judgments); however, Craft3 examines utility bill repayment history in lieu of analyzing an applicant’s debt to income ratio (DTI). This approach significantly reduces loan underwriting expenses for Craft3, helps to simplify the loan application process for homeowners, and allows for quicker approvals. Between March 2011 and December 2013, Craft3 completed more than 2,600 loans valued at $33.4 million, with an average loan amount of $12,500. While the loans have been made for only a few years, loan default rates have been below industry averages.
Pennsylvania's Keystone Home Energy Loan Program, administered by AFC First Financial Corporation in partnership with EnergyWorks Philadelphia and the Pennsylvania Treasury Department, worked with multiple lenders to provide quick-approval unsecured energy efficiency loans up to $15,000, often within two hours of receiving the application. This was accomplished by underwriting based on a minimum credit score (640 or higher), 50% debt ratio requirement, and income and employment information (as stated by the borrower, rather than verified via the employer). Approximately 70% of applicants are approved for loans. The combination of minimum credit score, debt ratio and other factors used in underwriting allows AFC First to streamline the application process while minimizing risk of borrowers defaulting on their loans. Between 2010 and 2013, EnergyWorks was able to help finance over 1,900 upgrades, totaling more than $17 million.
Without an incentive, homeowners and contractors may limit themselves to smaller upgrade projects. Programs in search of more energy savings have found that some homeowners already interested in an upgrade are amenable to a bigger upgrade when coupled with better financing terms or larger rebates. To encourage deeper upgrades, many successful programs have offered tiered levels of financing or rebates, with terms and amounts that grow more favorable as more energy savings are pursued.
Maryland’s Be SMART Home program offered two energy loan options to homeowners: the Be SMART Home ENERGY STAR loan (6.99% interest rate for upgraded heating and systems and efficient appliances) and the Be SMART Home Complete loan (4.99% interest rate for comprehensive home energy improvements). The two loan products were created to provide borrowers with options for completing their home energy upgrades. In addition, the products were intended to encourage hesitant borrowers primarily interested in upgrading one system to consider the benefits of a whole house approach. In many cases, the program noted that borrowers entered the Be SMART Home program for the Be SMART Home ENERGY STAR product; however, after discussions with Be SMART staff about the value of a comprehensive home energy upgrade, many of these borrowers completed an energy assessment and converted to the whole house Be SMART Home Complete approach. Between July 2010 and May 2014, more than $1 million was loaned, with a 66% loan approval rate.
EnergyWorks Philadelphia offered two tiers of loan rates, tying the interest rate to the number of energy efficiency measures incorporated into the home. Homeowners who undertook Gold Star projects using a participating contractor were eligible for the lowest possible rate—0.99% fixed for 10 years. Gold Star projects were guided by an energy assessment and consisted of whole home upgrades that addressed multiple components of the home (e.g., envelope, HVAC, water heating, appliances, etc.). With the Silver Star level, homeowners who installed a single energy efficiency measure (e.g., high efficiency furnace replacement) using a participating contractor could qualify for a 4.99% loan, in addition to rebates and tax credits. Between 2010 and 2013, EnergyWorks issued 559 Gold Star loans worth more than $6.4 million and 1,347 Silver Star loans worth more than $11.4 million.
Enhabit, formerly Clean Energy Works Oregon, initially launched its program with aggressive incentives to generate interest in the program. Early adopters were quick to apply. Enhabit based incentives on the level of projected energy savings: $3,200 for savings of 30% or more, $2,200 for savings between 20% and 30%, and $1,500 for savings between 15% and 20%. After an initial 90 days, incentives were lowered to $1,500 for savings of 30% or more, $1,000 for savings between 20% and 30%, and $500 for savings between 15% and 20%. Recognizing that rebate levels were not sustainable, incentives are currently set at $1,250 for savings of 30% or more, $1,000 for savings between 20% and30% and $500 for savings between 10% and 20%. According to Enhabit Executive Director Derek Smith, “Our incentive structure gets customers excited about aiming high and gives contractors a lever to encourage a more comprehensive scope of work.” Approximately 85% of participants reach the 30% projected savings goal. In addition to being able to access incentives, program participants have access to low cost-financing through Enhabit’s network of lending partners to finance the balance of project costs. Between March 2011 and December 2013, Enhabit, through Craft3 (one of Enhabit’s lending partners), completed more than 2,600 loans valued at $33.4 million.
In order to overcome lenders’ concerns over the risk associated with energy efficiency loans, many Better Buildings Neighborhood Program partners offered credit enhancements to lenders (e.g., loan loss reserve funds) to attract lender participation and to mitigate lender losses in the event of loan defaults. Over the long term, however, a thriving market for energy efficiency financing requires that lenders and capital providers operate without credit enhancements. In order for this to happen, lenders and capital providers need to understand that home energy lending can be profitable and that the risks are manageable. Several Better Buildings Neighborhood Program partners were able to prove the viability of energy efficiency lending.
Enhabit, formerly Clean Energy Works Oregon, took a sequential approach to designing for long-term sustainability through successfully engaging lenders in the program with credit enhancements, but removing these over time following evidence of success. In the process, Enhabit has unlocked millions of dollars of private capital while eliminating the need for program-funded lending support. During its program pilot, the City of Portland partnered with Craft3 to provide low-interest, long-term financing with utility on-bill repayment to program participants. Craft3 used bill payment history as a proxy for credit to help more homeowners qualify for loans. Loan defaults proved to be low from the outset, demonstrating the low risk associated with home energy lending. As Enhabit expanded its program throughout Oregon in 2011 and 2012, additional lenders joined the program. While loan fees and loan loss reserves were initially offered to some of these new lenders, Enhabit eliminated payment of all loan fees and loan loss reserves effective January 1, 2013, and still maintains a strong network of lending partners. Enhabit’s strategy to remove credit enhancements over time has worked because program results (e.g., low defaults) demonstrate that home energy lending can be profitable to lenders while also providing them access to new customers from whom they can solicit additional business. In addition, lenders become more comfortable with lending for energy efficiency if measures are properly installed and deliver the promised savings (which helps ensure loans are repaid) so Enhabit’s quality assurance has been an important factor in supporting the lending partners in non-financial ways. Between program launch in March 2011 and December 2013, Enhabit completed nearly 3,200 residential upgrades and 2,600 loans valued at $33.4 million (through its lending partner, Craft3), generating $49 million in local economic activity.
The Maryland Be SMART Multifamily program utilizes a revolving loan fund initially capitalized with $9 million to provide financing for energy efficiency upgrades in affordable multifamily apartment buildings. Leveraging their Better Buildings Neighborhood Program grant, the Be SMART Multifamily program team worked closely with property managers, owners, and developers to promote the value of energy efficiency in the multifamily housing community and succeeded in leveraging significant private and public capital to finance energy efficiency upgrades. The program’s revolving loan fund allowed short-term loans for loan loss reserves for multifamily upgrade projects accompanied by rehabilitation work funded through Low Income Housing Tax Credits. These short-term loans facilitated several energy upgrade projects that would otherwise not have been possible. These loans also provided for a quick revolution of the loan funds, typically resulting in full repayment of the loan loss reserve within 24 to 36 months (with interest rates ranging from 1% to 4%). The short-term loans have been tremendously beneficial to the viability of the Be SMART Multifamily revolving loan fund, and have enabled program activities to continue at similar projected funding levels into calendar years 2014 and 2015. Between July 2010 and September 2013, the program financed nine projects representing 935 multifamily units. Projected annual energy savings from these projects is more than 3,600 Megawatt-hours (MWh) and more than 260,000 therms.
Historically, energy efficiency financing have required two sources of funding: credit enhancement funds to mitigate risk and support attractive financing, and senior capital to fund the majority of the loan principal. Some residential energy efficiency programs have successfully assembled loan portfolios and sold them to secondary market investors as a new way to fund their programs and loan products. Availability of financing from the secondary market can also lower the costs of capital, allowing programs to offer home energy loans with better interest rates.
The Keystone Home Energy Loan Program (Keystone HELP) is Pennsylvania's financing program for energy efficient home improvements. The program is principally supported by the Pennsylvania Treasury Department, the Pennsylvania Department of Environmental Protection, and the Pennsylvania Housing Finance Agency. Keystone HELP offers low-rate loans to help eligible homeowners make affordable energy efficiency home improvements. Pennsylvania Treasury began Keystone HELP expecting to hold loans to term. Because of the program’s success, however, Treasury would exhaust all the funds it was prepared to make available for energy efficiency upgrade loans much sooner than planned. Without additional capital for new loans, Keystone HELP would need to stop offering financing for energy efficiency improvements. Treasury soon realized that a functioning secondary market would be necessary just to continue its own efforts, let alone scale up energy efficiency lending on a national basis. To meet the capital needs of Keystone HELP (and similar programs around the country), the Warehouse for Energy Efficiency Loans (WHEEL) was designed. WHEEL is a collaboration among the Energy Programs Consortium, the Pennsylvania Treasury, Renewable Funding, and Citigroup Global Markets. It provides low-cost, large-scale private capital to state and local government and utility-sponsored residential energy efficiency loan programs. WHEEL’s goal is to create a secondary market for clean energy loans, which over time will deliver better financing terms with declining reliance on credit enhancements and other subsidies. In March 2013, Treasury sold almost 4,700 Keystone HELP loans, receiving $23 million in cash and $8.3 million in deferred payments for a projected total of $31.3 million.
One of Enhabit's, formerly Clean Energy Works Oregon, goals is to access secondary markets for residential energy efficiency loans to help bring liquidity to the program. To date, Enhabit has successfully engaged lenders in the program, unlocking millions of dollars of private capital while eliminating credit enhancements. The program has been able to access secondary market investors by eliminating credit enhancements and proving the value of home energy lending. Enhabit’s success led its lending partner, Craft3, to pursue the sale of its loan portfolio to both mitigate its own risks and replenish funds for lending. Working with Enhabit, Craft3 closed on its first sale of loan assets to Self-Help Credit Union (based in North Carolina) in December 2013. The purchased portfolio included 1,251 loans with a total outstanding value of $15.7 million. Most loans in the purchased portfolio had 20 year terms and ranged in size from approximately $800 to $30,000 with an average loan size of about $12,500. Enhabit continues to work with its lending partners to pursue secondary market sales.
Homeowners do not benefit from access to financing if they don’t know about or understand options available to them. Contractors are often the primary transaction point for selling upgrades, and many programs have found that ongoing collaboration with contractors through sales training, regular meetings, and requests for feedback can foster greater understanding and sales of program loan products. Some successful programs have staff in a contractor manager role to organize trainings, address questions and concerns, and overall coordinate relationships with participating contractors. Along with simplifying the financing application process, working with contractors to integrate financing into the home performance sales process avoids making financing another complicated decision point for customers.
EnergyWorks of Philadelphia recognized that contractors can have a tremendous influence on homeowner decisions about how to pay for an energy upgrade. The program therefore trained contractors on how to effectively make affordability of energy efficiency a key part of every sales proposal and assessment. Contractors were also trained on how to better utilize special financing and monthly payment plans to increase both their closing rates and market penetration for more energy efficient home improvements. In addition, EnergyWorks provided contractors with program-sponsored technical training for BPI and RESNET certification, if needed, streamlined the energy assessment process and developed a consistent customer report template, and used an integrated software platform to provide maximum efficiency and customer service to contractors during loan/incentive origination, administration, payment, and reporting. Between 2010 and 2013, EnergyWorks helped finance over 1,900 residential upgrade projects, totaling more than $17 million.
Enhabit, formerly Clean Energy Works Oregon, works with its contractors to provide business coaching, peer mentoring, business development classes, business accounting, and sales training. Supporting the development of these skills is a key factor in Enhabit’s success. Trainings include discussion of Enhabit’s loan offerings and eligible lenders, and how financing is a valuable tool to help drive sales. These trainings were well-received by contractors and helped them improve their business processes, making them more profitable. Between program launch in March 2011 and December 2013, Enhabit’s close relationship with its contractor partners resulted in the completion of more than 3,000 upgrades. For more information on how Enhabit partners with their contractors, see the case study Making the Program Work for Contractors.
The Greater Cincinnati Energy Alliance (GCEA) recognized that the best way to drive demand for home energy upgrades was to involve local contractors that worked in homes on a daily basis. To that end, GCEA identified, trained, and mentored contractors who were interested in promoting the benefits of energy efficiency and saw it as a means to expand their business. Through a network of participating contractors, homeowners throughout Greater Cincinnati ultimately purchased energy efficiency upgrades and services totaling almost $19 million. Between program launch in 2011 and November 2013, GCEA issued 127 residential loans, totaling more than $1 million with no losses.
In October 2010, Austin Energy rolled out its single-family residential energy "Best Offer Ever" promotion, a three-month special that combined rebates and no-interest loans for energy upgrades. Austin Energy offered extra contractor training on the financing to drive sales during the promotion. Once draft promotional plans were in place, Austin Energy hosted a breakfast meeting—getting on their Home Performance with ENERGY STAR contractors’ schedules before they were out in the field for the day—to discuss the plans and collect feedback from the contactors. Contractors provided feedback on the launch plans, received sample forms, and were trained on how to use them. The contractors were also candid about their involvement in implementing the offer. Most contractors had not actively marketed financing options before, so Austin Energy walked the group through each party’s role and responsibility in the loan process. Austin Energy also scheduled the promotion during the fall and winter, which is typically a slow season for building contractors in otherwise sunny and hot Texas—increasing the likelihood that projects would be completed in a timely manner while also helping contractors avoid seasonal layoffs. As a result of the promotion, a total of 568 participants received Home Performance with ENERGY STAR upgrades through 47 contractors in six months—more than 10 times Austin Energy's typical participation rate.
As part of the ShopSmart with JEA program, Jax Metro Credit Union (JMCU) worked closely with contractors by holding regular meetings (monthly or quarterly) as well as lunch and learn opportunities to educate contractors on the loan options available. The credit union also did outreach to contractors or contractor associations in the community recognizing that the contractors would play an important role in selling benefits of the loan product. It was a long process, nearly 14 months, before the relationship between the credit union and the contractors was fully developed. From 2010-2012, ShopSmart with JEA completed 206 residential upgrades. JMCU members completed more than $1.2 million worth of energy upgrades on 183 homes in the community, and JEA and JMCU financed nearly 90 percent of completed upgrades.
This case study highlights the Help My House Pilot Program conducted in South Carolina by Central Electric Power Cooperative that included on-bill financing.
This report highlights program and policy attributes that enable successful on-bill programs based on analysis of four program case studies.
Presentation that describes the successful elements of the Massachusetts HEAT loan program, including how it is funded and who is eligible.
Presentation describing AFC First's (a lender's) aggressive underwriting and smart product delivery as part of the Keystone HELP program.
A sample for defining and elaborating on the specifics of a clean energy loan program.
An Excel-based example of a financing program model.
This summary from a Better Buildings Residential Network peer exchange call focused on integrating contractors with the loan process.
Presentation on the key programmatic elements of financing initiatives.
This summary from a Better Buildings Residential Network peer exchange call focused on innovative financing approaches programs are using to support residential energy efficiency.

industry_corpus2: Power & Energy


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Monitor your tank selection plan using separate section timers and system wide notifications.
Set the flight times with a single tap, and the app assists you to switch to the planned fuel tank during your flight.
Fuel Selector supports a two fuel tank setup. It is fully compatible with other aviation software, running in background until further action is needed.
Multiple customizable selection schemes easily activated for your current trip.
User defined notifications displayed regardless the app you are currently running.
Fuel consumption estimates with an overview of the fuel quantity remaining for each section.
Flight timers reporting in decimal times and hours/minutes.

industry_corpus2: Aerospace


text: Theses three young brothers are full of life naturally playful and will make lovely pets. Both parents are lops but I’m not sure not the boys ears will all drop. Both parents are real softies .

industry_corpus2: Others


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(Bloomberg) -- Theresa May’s government sought to reassure Ireland, a key player in the Brexit logjam, that its latest efforts to break the impasse were genuine, rather than a ruse or an attempt to deflect blame, according to a person familiar with the matter.
David Lidington, May’s de facto deputy, called Irish Foreign Minister Simon Coveney on Tuesday to explain her initiative to begin talks with opposition Labour leader Jeremy Corbyn in a bid to end the deadlock, according to the person, who asked not to be named because the conversation was private.
On the call, he assured Coveney that preparations to hold European Parliament elections, a key condition for the U.K. to win a longer extension, were real.
Irish support is key for the U.K. as the current impasse revolves around the need for a so-called backstop to keep the border in Ireland invisible after the U.K. exit from the bloc. Coveney on Wednesday said the government would back a short extension, while Prime Minister Leo Varadkar signaled his openness to a longer postponement.
Dublin would welcome a move toward a softer Brexit, as it makes that task of avoiding a hard border less onerous. May is met Corbyn on Wednesday to try to thrash out a Brexit compromise, which is likely to mean keeping closer ties to the European Union.
German Chancellor Angela Merkel said Wednesday Ireland is at the focal point of the EU’s efforts to find a deal that allows for an orderly Brexit.
“We often say Europe is a question of war and peace, and here you can basically see that it is a question of violence and non-violence,” Merkel told reporters after meeting Eastern state premiers in the Thuringian village of Neudietendorf. Merkel is traveling to Dublin to meet Varadkar on Thursday.

industry_corpus2: Politics & Administration


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Landgraf Herman IV von Hessen-Rotenburg was a renowned researcher in mathematics and astronomy. In 1624, aged just 17, he wrote an astronomical and meteorological Schreibkalender at Plesse Castle near Göttingen as a gift for his father, Moritz “der Gelehrte” of Hesse-Kassel (1572-1632); his most famous work is the Historia meteorologica, published in 1651 after decades of systematic weather observations. Another book from his library is offered as lot 583.
The appendix to the first work is provided by Bartholomäus Pitiscus, and according to Tomash and Williams is “the first book in which the term trigonometry appeared”.

industry_corpus2: Math & Statistics


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Neoregelia spectabilis (T. Moore) L. B. Sm.
The Plant List (2013). Version 1.1. Last accessed on Wednesday, September 27, 2017.
WCSP (2017). World Checklist of Selected Plant Families. Facilitated by the Royal Botanic Gardens, Kew. Last accessed on Wednesday, September 27, 2017.
Leaves capture water at Ask Nature. Last accessed on Wednesday, September 27, 2017.

industry_corpus2: Agriculture & Fisheries


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In previous posts, we explored why sales must transform to stay relevant in the digital age, and briefly touched on the critical initiatives that count to deliver success. These initiatives span organisational design – enabling more value-adding and lower cost sales interactions; sales process - supporting consistently high quality interactions; technology and data – creating additional sales capacity and effectiveness; and talent and capabilities – building sophisticated skillsets to exceed the expectations of today’s buyer. In this post, we’ll take a more detailed look at the first critical initiative of organisational design.
With the digitally-empowered buyer firmly in control of the sales process and increasing cost pressure to ‘do more with less’, the impetus is now with organisations to deliver sales interactions that are far more customer-centric and cost efficient than in the past. Organisational design – the mix of roles, KPIs and capabilities across channels and how these inter-relate with each other and the customer – must be evolved to be more efficient and more closely geared around how customers now interact.
Drawing on transformation work with enterprise clients across a variety of industries, the following are key shifts to organisational design which set up the business to be more relevant, across more channels, more of the time - as well as at lower cost.
In many organisations, a traditional ‘reach and frequency’ based approach is taken to organising field sales coverage. Organisations must move to more responsive and efficient targeting of opportunities that is dynamic across channels.
For example, let’s say a salesperson services 100 customers, and need to proactively interact with these customers 3 times a year. In a busy year, this will equate to around 300 visits a year and about 6 visits a week to hit coverage numbers. Using this model, the organising principle is mathematically derived based on an assumption around reach and frequency.
Going forward, there’s an imperative to be far more dynamic and multichannel focused, organising around the digital and physical behaviours being exhibited by customers that are indicative of buying, then responding to these signals meaningfully and quickly.
To enable this, the channel mix will likely need to be adjusted and account segmentation must be appropriately matched to marketing and sales channels. For example, channels such as inside sales are an increasingly common solution for more quickly and cost-effectively responding to the early signs of buyer needs. After supporting the early steps of the buying journey and qualification, the opportunity might then be handed over to a specialist salesperson for a face-to-face meeting, or handed to a marketing channel for further nurturing.
With calibration of the channel mix around your buyer such as in this example, the business can be positioned to be more responsive and relevant whilst also reducing the cost to sell and serve.
The traditional sales ‘road warrior’ has by far and large self-generated their own leads and meetings, with many of us cutting our teeth in an environment where as a salesperson you own cold and warm calling to existing and prospective customer bases.
Tomorrow’s salesperson will leverage a material pipeline of sales-ready leads generated by marketing, and will work collaboratively with marketing channels across the buyer’s journey.
The key to facilitating this shift is enabling lead generation and nurturing to be more centrally managed, where marketing’s role is to deliver sales-ready, prequalified leads that sales can start to action and advance. A substantial build is required to deliver this, with compelling content, more integrated marketing and sales processes and new technology tools just a few of the common hurdles.
Once achieved, however, this centralisation of lead generation provides significant benefits and scalability. Salespeople can spend more time speaking with high-quality prospects and customers can interact on demand via their preferred channels.
Salespeople are very often highly capacity constrained. Across our benchmarking projects, routinely only 21-39% of salesperson time is spent on effective selling. Role and goal diffusion is common, with salespeople struggling to balance selling time with other responsibilities such as helping with fulfilment, reporting, completing administration tasks and attending internal forums.
In addition to this, salespeople face the challenge of adapting to the level of sophistication of today’s buyer. With buyers more informed than ever, there is a good chance that a generalist sales rep will simply not be able to add enough value to a highly informed buyer and meet the expectations required to win.
The solution to these challenges is to evolve the capacity-strained generalist reps of old into more customer-focused and specialised sales roles. To do this, firstly ensure there is clear operational demarcation, for example between sales and service, as well as absolute role and goal clarity to solve the capacity challenge and remove noise from the operating model. Secondly, shift sales roles to be deeply specialised around specific industry, functional or solution expertise.
The result of this is more sales capacity to prep, think, analyse the ‘digital exhaust’ of buyer behaviour and develop relevant insights. Coupled with specialised expertise, salespeople and the business more broadly are set up to deliver the relevant and value-adding interactions required for success.
Stay tuned for future posts where we'll explore in more detail the other key initiatives required to adapt sales for the digital age.
We’ve recently posted a series of blogs that centred on transforming sales to stay relevant in the digital age. Throughout these posts, we’ve explored the reasons why sales must transform, given an overview of the critical initiatives that count to deliver successful transformation, and also provided a more detailed look at evolving organisational design – the first of these critical initiatives. Today’s post will provide insight into the second critical initiative of sales process, which focuses on supporting consistently high-quality interactions between salespeople and the ever-evolving digital customer.
I recently published a post with a topline recap of the latest in our series of thought leadership events – Sales Transformation for the Digital Age. In this post, I’ll give you an in-depth look at the first key takeaway from the event by exploring the main reasons why B2B sales must change to stay relevant in an ever-evolving environment.


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Destinypedia doesn't currently have a walkthrough for this level, could you write it?
Entropy's Pinnacle is a Story mission in Destiny The Taken King. It takes place in the Ishtar Sink and the second and final mission in the The Taken War quest line on Venus.
IKORA REY: The search to root out the Taken on Venus has led us to some dark places. None are darker than the heart of the Vex. If my information is correct, the blight now curls around the heart of their Citadel. This must not stand.
IKORA: The assault on the House of Wolves gave us detailed information about the Citadel's spire. By all indications, the heart of the blight is there, at the top of the tower. Good luck, Guardian. May your path through the Darkness lead you to the Light.
The Guardian makes their way to the Citadel.
GHOST: The roots of the Citadel go deep into the heart of the planet. The spire is the metal trunk of a very, very big tree. Sort of.
The Guardian enters The Juncture, finding it overrun with Taken. The Guardian eliminates the Centurions and Goblins, and approaches the lift. More Taken enemies, including Captains, warp in, but the Guardian destroys them all. The force field surrounding the lift dissipates, and they float upward.
GHOST: Remember Skolas? Crazy Kell, angry Fallen? Can we go back to that? I prefer them to the Taken any day.
The Guardian reaches the top of the Spire, navigating their way across the disappearing platforms. Upon reaching the central structure, four Taken Phalanxes appear, and use their shield blasts to attempt to knock the Guardian to their death. The Guardian dodges or braces their impact, and quickly deals with them after their guard is down.
GHOST: They were trying to knock us off that platform! Oh, the Taken really are insufferable!
The Guardian safely makes it the rest of the way across The Terminus. Several Taken blights float in the air. Under fire from Hobgoblins, Captains, Centurions, and Minotaurs, the Guardian works through the Taken army, reaching the Vex Transfer Gates. An Echo warps in, waiting for them. A large battle occurs as the Guardian is surrounded by dozens of Taken reinforcements and relentless fire from the Echo. However, the Guardian prevails and the Echo dies, taking the seemingly endless horde with it.
IKORA: You sent Oryx screaming back to the Ascendant realm, and still his Echoes stain our system. That is why you are here, Guardian. Only you are strong enough to stand against the terrors in the night.

industry_corpus2: Gaming


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Championing British colour with their ‘modern vintage’ brand British Colour Standard, Victoria and Jackie launched their company in 2015 to bring beautiful homewares to their design-savvy customers.
Everything they do is derived from a wonderful old colour system, British Colour Standard©, created in the 1930’s to match products across the British Commonwealth – from uniforms to battleships. It fell out of use following the Second World War and the later advent of digital colour. However we think that their colours match our own perfectly.
With this in mind, we have teamed up in order to give away an incredible collaboration prize!
We have 3 full sets of gorgeous British Colour Standard kitchen textiles to give away, each worth £58. If this isn’t already enough to get you excited, we’re also adding in one of our colour matched Healthy Back Bags.
Each set includes a soft, washed Barista-style cotton apron, a tea towel, an oven mitt, a double-oven glove and a round pot holder.
Each includes a soft, washed Barista-style cotton apron, a tea towel, an oven mitt, a double-oven glove and a round pot holder.
General Terms and Conditions apply, please acknowledge acceptance of general terms and conditions when entering.
You may be noticing some changes. This is because we decided it was time to refresh our look and our message.


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Approved for use with DX140LC-5 through DX530LC-5 crawler excavators acclimated in abundant digging and loading applications, severe-duty buckets appear in pin-on or wedge-lock appearance and handle annoying materials. Ancillary cutters, carapace basal and ancillary abrasion plates, andÂ weld-on abrasion close are fabricated of abrasive-resistant material, and reinforcing gussets strengthen machine-fitting collective on bucket. Offered in 18–72 in. widths, buckets additionally affection advanced abrasion pads,Â thick acid edge, and formed abrasion strap.
WEST FARGO, N.D. — Doosan introduces a new band of severe-duty buckets for crawler archaeologian barter defective a brazier that can handle annoying abstracts in abundant digging and loading applications.
Doosan severe-duty buckets are accustomed for use with Doosan DX140LC-5 through DX530LC-5 crawler excavators. They are accessible in a pin-on or wedge-lock style. The severe-duty brazier sizes ambit from 18-inches advanced for the abate DX140LC-5, to 72-inches advanced for beyond Doosan excavators, such as the DX530LC-5. There are a array of sizes and capacities in between, to best bout the severe-duty brazier to the agnate crawler excavator.

industry_corpus2: Manufacturing


text: Discover all the things these trucks can carry in this board book with tons of lift-the-flaps! This board book not only features different trucks making deliveries to different places, it's also chock-full of flaps! Toddlers and preschoolers love playing with cars and trucks, but now they can actually peek inside these fun trucks and see what's inside, from food and livestock to where the driver sleeps on overnight drives! The engaging text is informative, interactive, and fun!

industry_corpus2: Subject Education


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Boston FAM began "Fore a Cure" in 2004. It is an annual fundraising 18-hole Scramble golf tournament where people get together to have fun and contribute to important causes. Each person's gift of generosity gives abused, neglected children hope for the future, care for children with juvenile diabetes, provides mammograms to women throughout the state of Wisconsin and helps women in need to pay for mammograms as well as other breast cancer prevention services.
To date, Fore a Cure with Boston FAM has raised over $1.6M since its inception. 100% of all proceeds are directly distributed to each cause.
In 2017, Boston FAM began collaborating with Mid-State Truck Services "Truckers for Tots" to pursue more funding for this inspiring cause.
Boston FAM has donated more than 12 truckloads of furniture to St. Vincent DePaul since 2011. Donations include bedroom sets, dining room sets, upholstery and more! Our proceeds total more than $220K in value, thus far.
More than 10K attendees for a day of fun, exotic cuisines and cultures. Boston FAM has been a big sponsor for a number of years, contributing directly to the festivals food, music and entertainment.

industry_corpus2: Health & Medicine


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Conversations about race, faith, and cultural differences and similarities can be challenging, complicated and, let’s face it, sometimes uncomfortable. At La Convivencia we know this to be true. But we accept the challenge, acknowledge the complications and choose to be, at times, uncomfortable. We do this because we believe that spiritual growth requires us to step out of our social comfort zone. And we believe that our individual faith, personal character and unique cultural identities are enriched through community service and dialogue with our friends and neighbors of different or “other” faiths, cultures and racial backgrounds. And, what we find through dialogue and service is that we are not so different after all. We believe that when we get to know the “other” in our community that is when we truly begin to see and know ourselves.
Sound interesting? Start here. Contact us at: contact@laconvivencia.org to take the first step.
Annual Social Justice Conference etc.
TOGETHER, we can create positive social change more quickly!


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7 YRS Rongcheng Taixiang Food Products Co., Ltd.
2 YRS Foshan Shunde Pingroun Food Development Co., Ltd.
We are a private enterprise, situated in Zhongshan City, Guangdong province in the South of China, close to Hong Kong. Established in 1938, we have built up our product range, including various interesting and delicious additions and dining tables. Our ranges of condiments and cooking sauces will help flavor your food and you can round off any meal with our tasty snacks or even fill a hole during the day.
5 YRS Rongcheng Chentao Seafoods Trade Co., Ltd.
2 YRS Zhejiang Wufangzhai Industry Co., Ltd.
6 YRS Shandong Huanfeng Food Co., Ltd.
We will always try hard and our best to supply delicate and quality products to clients. Main Products:We are engaged in surimi products:Roasted Surimi Roll,Prefried Battered Roasted . Major Equipments:We have three production line,and all are mechanized production line.
Factory under the supervision of CIQ,in strict accordance with the CIQ export sanitary registration standards of aquatic products production. At the same time,the CIQ insection tour,effectively guarantee the health management of our factory. Company in management,talent introduction,training and technology adoption USES the international advanced standard and management style.
Unpack when the oil heat, put them in the fry pan slowly, fry them till gold. While they can be eaten at any meal, bao are often eaten for breakfast. The dough texture is fine with a soft and fluffy bite into delicious meat or sweet fillings.
But now, with the frozen dough, it omits the blending process and the kneading process. But the frozen dough ensures that the bread is completely fresh. At the same time , the frozen dough ensures the diversification of the bread and the long-time stability of product quality.
Our research team will research new formula according to your market. When you come to our company visIt us, we will arrange car for picking up and help you book hotel. In production and after delivery, we will track on time and tell your goods situation. b.
Service: Good pre-sale and after-sale service. Sample: The sample can be provided be for the offical order. 2.Can you send us pictures of products and processing9 Yes. We can.
Alibaba.com offers 5,284 frozen cakes products. About 3% of these are packaging boxes, 2% are cake tools, and 1% are other food & beverage.
A wide variety of frozen cakes options are available to you, such as sponge cake, small cake, and butter cake. You can also choose from cake, food. As well as from box, bulk, and bag. And whether frozen cakes is nut, cream, or fruity.
There are 5,284 frozen cakes suppliers, mainly located in Asia. The top supplying country is China (Mainland), which supply 100% of frozen cakes respectively.
Frozen cakes products are most popular in Mid East, North America, and Domestic Market.
You can ensure product safety by selecting from certified suppliers, including 717 with ISO9001, 218 with Other, and 142 with ISO22000 certification.


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This eco-friendly tour will give you an impression of the diversity of interior areas of Norway with its mystical lakes and forests. Highlights during the itinerary are: cruise on the largest lake in Norway on the world’s oldest paddle steamer in use, the UNESCO’s World Heritage Listed mining town of Roros, Norway’s former capital Trondheim and of course the Norwegian capital, Oslo.
Arrival in Oslo on your own by train, bus or private transfer. The Norwegian capital is beautifully situated at the head of the Oslo Fjord and surrounded by forested ridges. Arable fields, vast forests and the untouched nature areas surrounding the city are only twenty minutes from the center. They provide recreational opportunities that are frequently taken advantage of by the city’s inhabitants, as well as by visitors.
Oslo offers many well-known sights such as the Vigeland Sculpture Park, the Viking Ship Museum and the Munch Museum. Use the day to explore on your own.
Breakfast at the hotel and departure from Oslo by train to Gjovik. The journey of two hours will take you north through the outskirts of Norway’s capital through forests, small towns and farmers' country to the city of Gjovik, located on the western shore of lake Mjosa. We recommend a visit to Gjovik Glassverk, or the Olympic Mountain Hall which is used both for sports and cultural events – or just have a stroll around this quiet but beautiful city – that even has got its own chocolate factory in the main street!
Breakfast at the hotel. Departure by boat from Gjovik in the morning towards the city of Hamar. The world’s oldest paddle steamer Skibladner will not only take you across Norway’s largest lake Mjosa but also back in time. Once in Hamar, we recommend that you visit the old ruins from the cathedral at Domkirkeodden, and the Vikingship-Olympic arena from 1994. In the afternoon take the train from Hamar which runs north through the Osterdalen Valley where you will have the possibility to catch a glimpse of foxes and elks. The route continues in northern direction along Norway’s longest river Glomma to the old mining town of Roros. The town center boasts a rare collection of large and well-preserved wooden buildings, made all the more real and authentic by the fact that the people of today live and work in them.
Breakfast at the hotel. Today is at your leisure to discover Roros. This is one of the oldest towns of wooden buildings in Europe, and also one of the few mining towns in the world that has been found worthy of a place on UNESCO’s World Heritage List. We recommend you take part in a guided tour of the old town (activities in Roros booked locally). Also worth a visit is the Roros museum which depicts mining history of the town. If you want to experience this mining history first hand – visit Olavsgruva Mine. Here you can go up to 500 m into the mine to "Bergmannshallen", the Miners` Hall. A truly exciting and atmospheric experience!
Breakfast at the hotel. Afternoon departure by train from Røros to Trondheim. The 2.5 hour long journey will take you along rivers, between mountains and through valleys to the third largest city in Norway. Trondheim was founded by Viking King Olav Tryggvason in 997 BC, and occupies a special place in Norwegian culture and history. Trondheim was Norway’s first capital and continues to be the coronation city where Norway's Kings from Harald Harfagre (10th century BC) to King Harald V (1991) have been crowned and blessed.
Independent transfer to the airport.
OR extend your stay! Please inquire!

industry_corpus2: Travel & Geography


text: From Toronto, New Jersey, Orlando, Phoenix, Dallas to Memphis. Vince Carter will forever be “Vinsanity”, “Air Canada”, and “Half-Man, Half-Amazing”. Illustrated by artist Min-suk Kim from South Korea.

industry_corpus2: Film & Entertainment


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Have you ever been to one of those bachelor parties that got way out of hand? No, we don't mean that time Greg stuck his head out of the limousine moonroof and got hit in the head by a panicked bat. That was just weird, not crazy. We're talking epic night out, someone loses a tooth and gets left on the hotel roof crazy!
It's always those nights that seem like they aren't going to amount to much that get a little out of hand. First, it starts out with your buddies overcompensating a little because the soon-to-be-married guest of honor let loose one of the most serious bachelor party faux pas: the subtle yawn! So, the night began to get a little hazy after the shot glasses began to pile up. Then someone suggested going down to Large Marge's Cabaret and even though most of you knew better, you and your adventurous pals found yourself entering this seedy establishment. Everyone knows how it goes down in a place like this, the ladies are kind at heart but they certainly aren't the model types from the Los Vegas strip! They've got some unexpected dance moves and when we say "not in a good way" we're being kind.
For your next epic costume party, dress to honor that unholy night with this inflatable pick me up stripper outfit. Literally, put yourself in Hilda the exotic dancer's shoes (what kind of stipper wears tennis shoes by the way?) and feel your ego get inflated by the internal fan. You might not ever go back to Large Marge's but now everyone can get a taste of how out of hand that hazy yet unforgettable night was!

industry_corpus2: Hospitality & Catering


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An aromatic I.P.A. in the contemporary West Coast style. Big tropical fruit gives way to gentle pine, courtesy of American and New Zealand organic hop varieties. Full Time is a bold yet balanced I.P.A. from Beau’s for the hop lover!
The West Coast style I.P.A. needs no introduction in modern craft beer circles. Undeniably aromatic, with characteristic tropical, citrusy hops and bracing bitterness, they are typically brewed stronger than a traditional I.P.A. (India Pale Ale).
Full Time I.P.A. pours hazy deep gold with a dense white foam. Aromas of citrus, tropical fruit and pine abound. The ﬂavour mirrors the aroma impressions with pronounced juicy fruit. A balanced bitterness underpins the ﬂavour. This medium bodied ale ﬁnishes dry with lingering hop and fruit notes.
Local spring water, organic barley malts, organic hops, brewer’s yeast.


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Call the school to arrange a tour of the school. During the tour you will have an opportunity to view our environment and learn about our curriculum and programs offered. Come prepared to ask many questions. We will be glad to answer them! An Application for Admission and the School Fees Policy and Fee Schedule will be given to you.
Submit the Application for Admission form to the school accompanied by an application fee of $100. If a space is not available at that time, a child’s application will be placed on a Wait List until a space becomes available. The $100 application fee is not cashed. When a space become available the families are called in order of the wait list and offered a space.
Make arrangements to observe a class in session. When we receive your application for admission form, our office will call to make an appointment to have you observe a class in session. We feel this is a very important step in the process. By observing a class in action, with children learning, you will obtain a clearer understanding of our educational philosophy.
Arrange for an interview with the Principal. The interview will give us an opportunity to discuss our teaching methods and review expectations from the perspective of the school and the home. We request both parents be present at the interview if possible.
Arrange for your child’s class visit. Your child’s visit will give him or her an opportunity to be introduced to the class before the first day of school.
Students applying for the Elementary Program may spend a half or full day in their prospective class before final registration.
Copyright Wheatley School 2016, St. Catharines, Ontario, Canada. All rights reserved.


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well just wanted to stop by and say hello.
hey man welcome... more smilies on the way!
we don't want to see that..


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Annnd we're back! After taking a month off, a new Local Heroes strip is up! However, the latest strip is only one short panel, and there's some text at the bottom that may seem a little odd. Let me explain.
My girlfriend gave me a Wacom tablet for Christmas, which is something I've been aching to use lately. I wanted to start doing some inking directly on the computer. Since Local Heroes has only been in pencils so far, I thought inking the strip from now on would be a great way for me to get used to the tablet. I needed to start off simple, so I went with a "coloring book" plotline.
Yep, the latest storyline will eventually be a coloring book. And you'll see it created, online, one or two (or three?) pages/panels at a time.
Actually, I meant to have two panels/pages ready for today for the new story arc, but I overestimated myself. I'm not as fast with the tablet as I would like to eventually become. Once I get better with the tablet, I hope to have two or three panels/pages done each week.
This page contains a single entry from the blog posted on February 5, 2007 10:09 AM.
The previous post in this blog was I'm going to New York Comic Con.
The next post in this blog is New York Comic Con 2007.


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All concessionaires, outdoor exhibitors, and vendors are responsible for knowing the abiding by the rules of the western festival. Participation requires a complete application and payment. Applications require a signature from an authorized member of the club, business or organization.
Vendor booths located on the path to the main stage/carnival may stay open till the end of the festival.
Booth Prices are for a 2-day space.
Corner Booth Spaces are available for an additional $75.00.
Corner booth spaces are limited and will be assigned based on availability.
Application and full payment due by April 15th, 2018. Spaces are assigned based on date of postmark.
Early registration discount of $15.00 if application postmarked or received by March 1st.
Late application fee $50.00 if postmarked or received between April 16 through 30, 2018.
Late applications accepted with cashier’s check only, no personal checks.
No applications will be accepted after April 30, 2018.
Application confirmations will be mailed between April 15-30, 2018.
Hours: Saturday 10:00 am to 6:00 pm, Sunday 10:00 am to 4:00 pm. Vendors must open at 10:00 am daily.
The Festival will not be cancelled due to rain.
Space changes will not be made.
any item deemed by the craft Vendor director as inherently dangerous or public nuisance are prohibited.
Electricity is not provided. Vendors may provide their own “quite” generator and are responsible for its maintenance.
Festival is not responsible for any loss, theft or damage to entrant’s property.
1. 100% refund 30 days prior to first set up day.
2. 50% refund 15 days prior to first set up day.
3. No refunds 14 days prior to event.
One pass per application is provided, additional parking passes available for purchase.
No Vendor parking in vending areas.
No parking or stopping is authorized in the display/exhibit/vendor area.
grounds. The Elk Grove Park installed locked gates to protect the grass. These gates will not allow for cars to be driven onto the park grounds.
list your needs on the application.
Early set-up is available Friday from 3:00 pm – 7:00 pm and Saturday 7:00 am – 10:00 am.
Booths must be ready for customers by 10:00 am on each day of the festival.
Space assigned based on when application received. Space numbers will be displayed at each vendor space. Vendors Resellers license must be available at all times.
1. Vendors are required to keep their space clean and free from hazards.
2. Vendors are responsible for removing all their garbage (boxes/trash) by the close of the Festival.
3. All items displayed/sold by the vendor must be indicated on the application.
4. All vendors’ merchandise must stay inside assigned area lines.
5. Vendors must report any potential hazards to the Craft Vendor Director.
6. Vendors are not be permitted to sell or dispose of knives, firearms, fireworks, or any item with an inherently dangerous or of a public nuisance in nature.
2019 Craft Vendor Application Can Be Found Here!!!


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You can find Embraer Legacy 450 for sale offers below. Embraer Legacy 450 prices you can get by contacting our specialists.
Embraer Legacy 450 prices about 20500 000 USD.
We can send you offers of new and used Embraer Legacy 450 for sale to your email address.
Please, check Embraer Legacy 450 prices via phone or email.

industry_corpus2: Automobiles