By the Numbers
During the first two years of participation, RGGI provided $250M to make low-income housing in Virginia more energy efficient. The Housing Innovation Energy Efficiency (HIEE) fund, administered by the Department of Housing and Community Development, provides capital to make energy efficiency upgrades to both new and existing housing.
For existing housing, the Weatherization Deferral Repair (WDR) program works in tandem with the federal weatherization program to provide funds for major health and safety repairs- such as new roofs, HVAC replacements, mold remediation, and leak repairs- that would otherwise go unresolved if these funds did not exist. Once a weatherization provider makes the WDR repairs, they can then fully weatherize the home through the federal weatherization program.
The Affordable and Special Needs Housing (ASNH) program funds leverage federal and state financing options to ensure more energy-efficient affordable housing comes to market every day. These RGGI dollars administered through the HIEE fund, are provided as forgivable, no-interest loans and are capped at $2M or 10% of construction costs per project. In order to receive these funds, a project must provide additional high performance criteria- above and beyond what is already required for the Low-Income Housing Tax Credit- depending on project type.
RGGI dollars are being used in every region of Virginia. From major health and safety repairs on existing housing to the construction of affordable, energy-efficient homes, RGGI dollars are making a major difference and creating high-paying jobs that cannot be outsourced.
Total RGGI Proceeds for Virginia
Virginia began participating in RGGI auctions in March 2021. Below is a table of both Virginia’s total proceeds per quarterly auction and the estimated allocation for low-income energy efficiency dollars to the Housing Innovation Energy Efficiency (HIEE) fund.
| Auction Number | Date | Total Proceeds | Total Energy Efficiency Funds |
|---|---|---|---|
| Auction 51 | 3/2021 | $43,589,868.40 | $21,794,934.20 |
| Auction 52 | 6/2021 | $45,416,614.62 | $22,708,307.31 |
| Auction 53 | 9/2021 | $52,995,538.50 | $26,497,769.25 |
| Auction 54 | 12/2021 | $85,634,562.00 | $42,817,281.00 |
| Auction 55 | 3/2022 | $74,219,112.00 | $37,109,556.00 |
| Auction 56 | 6/2022 | $76,418,182.90 | $38,209,091.45 |
| Auction 57 | 9/2022 | $73,944,212.95 | $36,972,106.48 |
| Auction 58 | 12/2022 | $71,415,265.89 | $35,707,632.95 |
| Auction 59 | 3/2023 | $66,096,400.00 | $33,048,200.00 |
| Auction 60 | 6/2023 | $67,312,561.03 | $33,656,280.52 |
| Auction 61 | 9/2023 | $73,234,797.35 | $36,617,398.68 |
| Auction 62 | 12/2023 | $97,444,075.68 | $48,722,037.84 |
| All Auctions | $730,277,115.64 | $384,460,595.66* |
*$11,400,000 was removed from the HIEE budget by the 2022 General Assembly. This money was allocated to the Town of Hurley, VA for flood remediation. An additional $18,000,000 was removed from the HIEE budget by the 2023 General Assembly. This money has been earmarked for Southwest Virginia flood relief.
Current HIEE Allocations from RGGI
This table provides the amount of funds allocated to the Weatherization Deferral & Repair (WDR) and the Affordable & Special Needs Housing (ASNH) programs under the HIEE fund.
| Fiscal Year | WDR Allocations | ASNH Allocations |
|---|---|---|
| 2021 | $15.2M | $29.1M |
| 2022 | $39.3M | |
| 2023 | $15M | $22.4M |
| 2024 | $15M | $95M |
| Total | $45.2M | $185.8M |
View our ASNH distribution map to see where the ASNH money has gone.
