The Missouri Department of Economic Development is now accepting applications for low-interest energy improvement loans to public schools (K-12), public colleges and universities, local governments, local government/public owned airport facilities (municipal, county, regional and international), public water and wastewater treatment facilities and hospitals.
In total, the Department is making $5 million in American Recovery and Reinvestment Act of 2009 (ARRA) funds 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 Dec. 17, 2018 through Feb. 15, 2019 for projects between $10,000 and $500,000. 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 $500,000.
"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."
Loan financing may be used for various energy-saving investments such as insulation, lighting systems, heating and cooling systems, combined heat and power, pumps, motors, aerators, renewable energy systems and other measures that reduce energy use and cost. Loans are then 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.
Since the ARRA-sourced Energize Missouri Loan Program’s inception in 2011, the Missouri Department of Economic Development – Division of Energy has awarded 23 loans resulting in more than $15 million in completed energy efficiency projects and over $1.9 million in estimated cumulative energy savings.
To apply or for more information about the Energize Missouri Loan Program, please visit https://energyloan.mo.gov or contact the Missouri Department of Economic Development’s Division of Energy at 573-751-2254 or toll-free at 855-522-2796.