The Missouri Division of Energy is now accepting applications for low-interest energy improvement loans to public K-12 schools, public colleges and universities, local governments to include municipal, county, regional, and international airports, public water and wastewater treatment facilities, and public and not-for-profit hospitals. In total, the department is making $4 million available for these entities to complete energy efficiency and renewable energy projects throughout the state of Missouri.
The loan application period ranges from June 17 through Sept. 20 for loans 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.
"Energy efficiency is essential to Missourians and is key to a strong economy. Quality, affordable energy should be available to all, and the Energy Loan Program assists in making this possible," said Craig Redmon, director of the Missouri Division of Energy. "The Energy Loan Program covers many facets of our economy, creating jobs to install energy innovations and retrofits into already established schools, hospitals and government buildings, saving taxpayers’ money."
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 Division of Energy has awarded more than 609 loans resulting in more than $112 million in completed energy efficiency projects and more than $199 million in estimated cumulative energy savings. There have been no loan defaults in the 30-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.