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BDC Reports

Financing Thermal Energy Networks: A Reference Guide for Municipalities & Community Advocates

Financing and Incentives, Thermal Energy Networks (TENs)

“Infrastructure financing is at the heart of whether your community gets what it needs.” In this straightforward guide to infrastructure financing tools, advocates, community leaders, municipal officials, and public or mission-driven utilities can learn how to lower initial capital barriers for thermal energy networks (TENs). It includes at-a-glance comparisons of financing tools, a step-by-step guide to building a capital stack, and in-depth review of different financing options.

BDC, February 2026

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