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JEFFERSON CITY— Local governments, public and
private higher education institutions and public and private not-for-profit hospitals
will be able to apply to receive low interest energy loans from May 15 through
July 15, 2018.
The Missouri Department of Economic Development – Division of
Energy has $2.5 million in financing available to help
these borrowers fund projects to reduce energy costs. Of the funding available,
50 percent of the funds are set aside to help fund combined heat and power
projects. These systems allow facilities to produce both heat and electricity
on-site, and can cut utility costs by 20 to 25 percent. The remaining 50
percent of the funds available will help fund energy efficiency projects at public
and private not-for-profit hospitals.
“The Energy Loan Program is a
great alternative to fund efficiency projects for hospitals or institutions
considering Combined Heat and Power,” said Kristy Manning, director of the
Missouri Division of Energy. “Implementing a Combined Heat and Power system increases
energy efficiency and resilience while also saving money. That savings can then
be directed toward other priorities.”
Loans are repaid through the
savings achieved from installed efficiency measures. Funds may be used for various energy-saving investments such
as insulation, lighting systems, heating and cooling systems, combined heat and
power systems, pumps, motors, aerators, renewable energy systems, and other
measures that reduce energy use and cost.
Since the Energy Loan Program’s
inception in 1989, the Missouri Department of Economic Development – 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.
To apply or for more information about the Energy Loan
Program, please visit http://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.
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