Revolving Funds for Sustainability Projects at Airports (2019) / Chapter Skim
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Pages 79-96
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From page 79... ...
79 The GRF model is already well established across many different types of institutions, including higher education, K–12 schools, city and state governments, hospitals, and faith organizations. GRFs have been most commonly used and popularized on college and university campuses.
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80 Revolving Funds for Sustainability Projects at Airports Denison University The Green Hill Fund at Denison was established in 2011 after staff from the sustainability, facilities, and finance offices crafted a joint GRF proposal. The Denison administration's strong commitment enabled a rapid start for the fund, pointing to what is possible when institutional decision-makers believe in the GRF concept.
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From page 81... ...
Case Examples 81 Project Approval Process. The Energy Team manages project sourcing through multiple channels.
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82 Revolving Funds for Sustainability Projects at Airports capital balance from being at risk for utility overages caused by factors outside of the Energy Team's control, such as behavior changes that lead to increased energy use. C.1.2 Harvard University -- Green Loan Fund Summary The GLF at Harvard University has been an active source of capital for Harvard's Schools and departments to implement high-performance campus design, operations, and maintenance projects.
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From page 83... ...
Case Examples 83 project using Harvard's LCC tool, which is populated with established university discount rates, energy escalation estimates, and other financial assumptions. After an applicant submits a proposal, the project then goes through an internal approvals process, which includes review by the Office for Sustainability (OFS)
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From page 84... ...
84 Revolving Funds for Sustainability Projects at Airports • Reduce pollutants • Improve operations • Educate occupants • Install renewable energy • Purchase electric vehicles These projects are subject to the following rules: • Applicants must use Harvard's LCC for GHG emissions or utility reduction projects. • Disbursed funds are repaid based on estimated annual savings.
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From page 85... ...
Case Examples 85 climate goals, striving to become fossil-fuel-neutral by 2026 and fossil-fuel-free by 2050. Because many "low-hanging fruit" projects have been completed, the university is now at a turning point where projects with higher costs and longer paybacks must be encouraged.
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86 Revolving Funds for Sustainability Projects at Airports had a list of ECMs identified through its 2011 energy audit. With additional input from the facilities team, Denison assembled an initial list of 70 ready-to-implement projects.
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Case Examples 87 diagnostic capabilities to determine the efficiency of the system and steam savings from the Green Hill Fund and additional projects. The fund plans to recoup the project cost of these meters by bundling it with other projects that have faster paybacks and higher returns.
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88 Revolving Funds for Sustainability Projects at Airports could be reduced from four bulbs to two or three. Exterior lighting was upgraded from halogen or metal halide to LED.
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From page 89... ...
Case Examples 89 C.1.4 Lane Community College -- Energy Carryover Fund Summary The Energy Carryover Fund, Lane Community College's (Lane's) GRF, was created in 2006 with an allocation of $166,000 from surplus funds in the college's utilities budget.
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From page 90... ...
90 Revolving Funds for Sustainability Projects at Airports projects and tracks the cost savings from each effort in a dedicated account, the Energy Carryover Fund was replenished by the leftover money between the operating expenditures at the end of each fiscal year and the projected annual energy savings (and related incentives) in dollars, which was then earmarked for energy efficiency projects.
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From page 91... ...
Case Examples 91 Performance Lane has made strides in reducing the campus' overall environmental impact through the implementation of its GRF. The college has realized consistent annual returns from low-hanging fruit projects, such as the installation of plug load controls, compact fluorescent lamps, lowwattage space heaters, and strategic heating and lighting use.
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From page 92... ...
92 Revolving Funds for Sustainability Projects at Airports Project Spotlight In July 2008, Lane completed a recommissioning project in 17 campus buildings. The project was a continuation of a previous 2004 upgrade from the building's pneumatic mechanical controls to DDC.
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From page 93... ...
Case Examples 93 Virginia Airports Revolving Fund Research into funding at Virginia airports focused on the Virginia Airports Revolving Fund (VARF) administered by the Virginia Resources Authority (VRA)
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94 Revolving Funds for Sustainability Projects at Airports and pay for them through capital expenditures, without airport involvement. The Division is currently investigating ways to incorporate energy service provider contracts, in coordination with the airlines.
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From page 95... ...
Case Examples 95 get involved. "If more airports were aware of the policy that we wrote, that would help (spread the concept)
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From page 96... ...
96 Revolving Funds for Sustainability Projects at Airports airports a cheaper option than a bank loan. Direct loans have ranged in size from $23,000 to $27 million, with 10- to 25-year terms.
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