JEFFERSON CITY, MO/January 3, 2017 (STL.News) – The Missouri Department of Economic Development is now accepting applications for low-interest energy improvement loans to public schools, public/private colleges and universities, local governments, local government/public owned airport facilities (municipal, county, regional, and international), public water and wastewater treatment facilities, and public/private not-for-profit hospitals. In total, the Department is making $5 million available for these entities to complete energy-efficiency and renewable energy projects throughout the State of Missouri.
The department’s Division of Energy is accepting loan applications from January 2, 2018 through March 30, 2018 for loans between $10,000 and $1 million. Loan applications will be evaluated on a competitive basis. If money remains after applications have been reviewed and prioritized, consideration will be given to loans in excess of $1 million.
“The ability to invest in energy efficiency should be available to all schools, hospitals, and governments throughout Missouri to increase energy affordability,” Kristy Manning, Director of the Missouri Division of Energy said. “The Energy Loan Program creates jobs in many facets of the economy and by cutting costs on energy, allows taxpayer dollars to be spent on other priorities.”
Loans are repaid from energy savings achieved. Loans to public schools 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 Division of Energy has awarded more than 598 loans resulting in more than $106 million in completed energy efficiency projects and more than $198 million in estimated cumulative energy savings. There have been no loan defaults in the 29-year history of the Energy Loan Program.
For more information about the Energy Loan Program or to apply, please visit //energyloan.mo.gov or call toll-free (855) 522-2796.