Santa Barbara County Resiliency Revolving Loan Fund Opportunity

To view the rest of this overview pdf, click here.

Summary: Amped Solutions, Inc. is partnering with Mission Driven Finance (MDF) to develop and finance the installation of a portfolio of commercial scale power storage systems for Santa Barbara County. Each battery system will be located behind the meter and will be awarded a cash incentive under the California Self Generation Incentive Program (SGIP). The partnership is seeking a revolving line of credit with an initial projected project portfolio of $5 million. Funding will provide the construction period bridge finance to acquire the underlying equipment and contract for the installation of the systems, with 100% of the loan to be taken out by the receipt of the awarded California SGIP incentive. On September 27th 2018 California Senate Bill 700 was signed into law, instructing the Public Utility Commission to expand and increase the Self Generation Incentive Program. The CPUC subsequently released a series of decisions establishing and outlining the ‘Equity Resiliency’ program to fully subsidize the installation of qualifying commercial scale storage systems. Examples of critical infrastructure are municipal buildings, hospitals, nursing homes, data centers, and grocery stores. Amped Solutions is working with Mission Driven Finance to install and finance SGIP battery retrofits for qualifying Santa Barbara County municipal buildings. These critical infrastructure battery upgrades will be owned by the County, at no cost. The full cost of the system will be reimbursed by the SGIP incentive which has been assigned to Amped Solutions as payment for these systems. The purpose of the credit facility is for the project finance and installation of the projects.

To view the rest of this report, click here.

Status: 

Cost:

Partners: 

Permitting: 

Funding Sources: 

Additional Notes: