What Smart Project Developers Know – How Federal Programs Can Help a Deal Pencil Out
Recorded on January 28, 2014 (60 minutes)
Properly leveraging two bank regulations, administered by the Treasury Department’s Office of the Comptroller of the Currency (OCC), can significantly enhance the value of your solar projects. Yet, to some in the solar field, including certain lenders, attorneys, project developers, and accountants – they are barely understood at best and unknown at worst – and rarely considered within business development decisions.
Mr. Barry Wides, Deputy Comptroller for Community Affairs at the OCC, will discuss the Community Reinvestment Act (CRA) and the Public Welfare Investment (PWI) authority and how they can enhance a banker’s investment appetite for solar projects. Some solar project developers have effectively capitalized on the interest of commercial banks and savings associations in obtaining CRA credit to turn concepts into bankable projects. And, a project’s ability to meet the requirements of PWI authority can ratchet up the return to a bank or thrift while deploying solar projects across wide swaths of population centers.
In both cases, the rules and restrictions, as well as the opportunities, are more open to solar project development right now than many believe. Mr. Wides will provide insights on OCC experience to date with solar projects as well as recent developments – such as whether PWI can provide a “safe harbor” from the Volcker Rule and how such projects may qualify for CRA consideration for national banks and federal thrifts.
Barry Wides, Office of the Comptroller of the Currency’s (OCC) Deputy Comptroller for Community Affairs
Tom Kimbis, Vice President of Executive Affairs/General Counsel, SEIA