NEIF Releases Mid-Year Update; Surpasses $100MM in Cumulative Energy Efficiency Project Funding
Allentown, PA, August 11, 2022 — The National Energy Improvement Fund (NEIF), neifund.org, released its June 30, 2022, interim investor update showing strong growth in its residential and commercial energy efficiency financing programs, and noting that the firm has surpassed $100 million in cumulative fundings for projects that make homes and buildings safe, healthy, comfortable, and more efficient and resilient.
NEIF’s June 2022 Interim Report outlines the financial status of its residential and commercial projects spanning 34 states, as well as NEIF’s partnerships with leading utilities, and its positioning to facilitate financing programs for new federal initiatives.
The report shows a 50% year-over-year increase in project volume. NEIF cited its successful launch and expansion of programs with utilities such as JCP&L (First Energy), Atlantic City Electric (Exelon), NC & SC utilities, Eversource, ConEd, along with others in California.
Other highlights of the report include engagement with the U.S. Department of Energy as new federal climate legislation is passed and NEIF’s successful fifth round on the RaiseGreen platform for its Regulation CF Preferred Equity offering. NEIF is also moving forward with re-certification to affirm its continued status as a Certified B Corporation, meeting the highest standards of social and environmental performance, transparency, and accountability.
With a lending heritage dating to 1947, NEIF, which commenced operations as a benefit corporation in 2018, provides fair and transparent point-of-purchase financing for essential energy and resilience improvements like heating, cooling, roofing, insulation, lighting, and battery storage. NEIF provides its financing through partnerships with contractors, manufacturers, utilities, and government. Led by energy financing pioneers Peter Krajsa, Matthew Brown, and Laura Nelson, and an experienced team responsible for creating some of the nation’s most innovative energy financing programs, NEIF is the nation’s only Certified B Corp and U.S. Department of Energy Leading Home Improvement Expert Lender. NEIF addresses climate concerns by providing simple and trusted financing programs to help increase the affordability of energy efficiency improvements.