Loan applications are now being accepted for energy improvement in Missouri.
Through October 30th, schools, universities, hospitals, airports and government agencies can apply for low-interest loans ranging from 10-thousand dollars to one million dollars to promote energy efficiency and renewable energy.
The Missouri Department of Natural Resources says the program is designed to help the state’s economic recovery by reducing energy costs.
JEFFERSON CITY, MO, AUG. 3, 2020 – The Missouri Department of Natural Resources is now accepting low-interest energy improvement loan applications. Public K-12 schools, public colleges and universities, local governments including municipal, county, regional and international airports, public water and wastewater treatment facilities and public and not-for-profit hospitals are eligible to compete for a total of $4.5 million for energy efficiency and renewable energy projects throughout the state.
The loan application period runs from Aug. 3, 2020, through Oct. 30, 2020, for loans between $10,000 and $1 million. Loan applications will be evaluated on a competitive basis by the department’s Division of Energy. If money remains after applications have been reviewed and prioritized, consideration will be given to loans in excess of $1 million.
“As part of the state’s effort to support economic recovery, the Department of Natural Resources is pleased to offer an Energy Loan Program cycle to help eligible applicants make cost-saving energy improvements,” said Craig Redmon, director of the department’s Division of Energy. “The program can help stimulate Missouri’s economy by saving taxpayer money and supporting jobs in Missouri.” Loans are repaid from energy savings achieved. Loans to public schools and local governments do not count against debt limits or require a public vote or bond issuance.
The loans, administered as part of the Energy Loan Program, provide financing for energy-saving investments, such as high-efficiency lighting fixtures and lamps, high-efficiency heating ventilation and air-conditioning systems, combined heat and power systems, renewable energy systems, waste heat recovery, energy-efficient fine bubble diffusers and high-efficiency pumps, building shell improvements, such as insulation and other infiltration measures, and other measures that reduce energy use and cost.
Since the Energy Loan Program’s inception in 1989, the Department has awarded more than 622 loans, resulting in more than $118 million in completed energy efficiency projects and more than $214 million in estimated cumulative energy savings. There have been no loan defaults in the 31-year history of the Energy Loan Program.
For a list of recipients or to learn more about the Energy Loan Program, please visit energyloan.mo.gov or contact the Missouri Department of Natural Resources’ Division of Energy at 573-751-2254 or toll-free at 855-522-2796.