What is WV-LEEP?

The Local Energy and Efficiency Partnership (WV-LEEP) for West Virginia is a innovative way for commercial property owners and small business owners to pay for energy efficiency upgrades. Funding is provided or arranged by a local government for 100% of a project’s costs, and is repaid with an assessment over a term of up to 20 years. Local government assessment financing has been used efficiently for decades throughout the United States to fund improvements to private property that meet a public purpose.

• Financing would be available for all types of commercial and industrial properties, large and small, and may be available to non-profits and government facilities.
  
• Financing approvals are simple, but WV-LEEP projects must save money for the property owner.
  
• Energy audits, benchmarking and evaluation can be used to ensure that projects make sense, but WV-LEEP is 100% voluntary. In communities that adopt WV-LEEP, assess­ments are only paid by participating owners, and only for their own projects.
• Programs are locally based and tailored to meet local market needs.
  

Benefits of WV-LEEP

WV-LEEP financing has many features that can uniquely solve barriers to the adoption of energy efficiency measures.

• 100% financing requires no up-front cash investment
• Long-term financing (up to 20 years) results in immediate positive cash flow
• No payoff upon sale because WV-LEEP assessments (and energy savings) remain with the property
• Assessment costs and savings can be shared with tenants
• WV-LEEP can attract a wide range of private investors with low interest rates
• WV-LEEP may be treated as off balance sheet financing
• Non-recourse, non-accelerating financing
• WV-LEEP programs are local and community members are motivated to engage in outreach and marketing efforts