student involvement in revolving loans: a case study
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Student Involvement in Revolving Loans: A Case Study. University of Illinois Student Sustainability Committee: Marika Nell, Katie Kinley , Marcus Ricci and Emily Cross. Student Sustainability Committee. Two green fees passed in 2003 and 2007 $2 Clean Energy Fee - PowerPoint PPT PresentationTRANSCRIPT
Student Involvement in Revolving Loans: A Case Study
University of Illinois Student Sustainability Committee:Marika Nell, Katie Kinley, Marcus Ricci and Emily Cross
Student Sustainability Committee
• Two green fees passed in 2003 and 2007– $2 Clean Energy Fee– $12 Sustainable Campus
Environment Fee• Annual revenue ~$1.05
million• 10 student voting
members
Revolving Loan Funds• What is a revolving loan fund?– Initial lump sum of money is set aside– Projects are selected that will have a quantifiable payback– Returns from the projects are reinvested into the fund to
continue to invest in other projects• Over 50 other RLFs country-wide• Benefits of Revolving Loan Funds– Long-term financing solution– Capital investments possible
Starting the University of Illinois RLF
• Wind turbine project failed in 2011– Student Sustainability Committee had
allocated $640,000 toward the project• Students proposed creating a
revolving loan fund using the money committed by other entities (Office of the Chancellor and the Office of the President) for the turbine
Revolving Loan Fund Investors
Total: $2.25 million• Student Sustainability Committee: $500,000• Chancellor’s Office: $1,000,000• President’s Office: $750,000
• Chancellor committed to matching any additional SSC funds
Voting Board
• Board includes Student Body President, Student Trustee, and one at-large student member and Chair of the Student Sustainability Committee
• Non-students: Representatives from F&S, Provost, Research and Student Affairs
• Meets once a year
Funding Priorities
1. Payback period2. Reduction of coal3. Fund size impact4. Visibility5. Project coordination
(leverage of additional funds)
Projects Completed
• First Round:– $1.5 million: T12—T8 lighting
retrofits– $750,000: LED exit signage
and occupancy sensors (split 50/50 with the SSC)
T-8 lighting retrofits
Leveraging Funds for the RLF
1. Utility Savings2. Fully Loaded Rate Structure3. Grant Funds
Utility Savings
• Students advocated for having 100% of the utility savings return to the RLF
• The RLF is credited for the amount of savings from its contribution
Fully Loaded Rate Structure
• Fully Loaded Rate• Students were very involved in the
discussions with administrators to push for fully-loaded rate
Grants
Project grants written by Facilities and Services serve also increase RLF
SSC-funded solar decathlon house
Lessons Learned
Lessons Learned• In creating the Revolving Loan Fund:– Student empowerment important– Challenging administration– Got all stakeholders together: administration, Facilities
and Services, students, faculty– Made sure the Agreement was thought out and clear
• Structure:– Savings and rate structure were chosen to maximize
effectiveness of RLF
Lessons Learned• Looking Back:– Make clear the process of SSC funding projects through
the RLF– Formalize a procedure for deciding slate of projects– One meeting a year
Lessons LearnedOverall:• Revolving Loan Fund is a good tool to finance energy
conservation projects while helping the University• Use existing green fee pools to challenge
administration• Helps the SSC because we can focus on other
aspects of sustainability
Thank you!
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