JEFFERSON CITY—The Missouri Department of Economic Development’s Division
of Energy announced today the award of $7.8
million for low-interest loans to assist energy-efficiency and renewable
energy projects statewide.
The funding will go to nine public schools, three city/county
governments, one hospital, and one higher education institution and are
expected to support 95 jobs and benefit more than 1,068,865 Missourians.
It’s estimated the projects will result in annual
energy savings of approximately $1,026,403. The loans will be repaid with money
saved on energy costs as a result of implementing these upgrades and
improvements. In addition, the projects will reduce electricity use by more
than 10,881,657 kilowatt hour (kWh) and natural gas use by 12,145 Million Btu
(MMBtu), avoiding 8,294 metric tons of carbon dioxide pollution, which equates
to removing 1,753 passenger cars from the road for a year.
“The
Energy Loan Program is an opportunity for critical infrastructures in
Missouri--schools, hospitals, local governments, universities-- to invest in
energy improvements for their facilities,” said Kristy Manning, Director of
Missouri Division of Energy. “Loan projects not only assist in making energy
improvements to applicants’ buildings but also aides in stimulating Missouri’s
economy by allowing applicants to shift savings towards other priorities,
thereby saving taxpayer money. Further, the Energy Loan Program bolsters job
opportunities for the state of Missouri.”
Since the Energy Loan Program’s inception in 1989,
the Department of Economic Development’s Division of Energy has awarded more than
612 loans resulting in more than $114 million in completed energy efficiency
projects and more than $199 million in estimated cumulative energy savings.
Through the department’s Division of Energy, low-interest loans are provided to
public schools, public and private higher education institutions, public and
private not-for-profit hospitals, and local governments to help reduce energy
costs. 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.
For a list of recipients or to learn more about
the Energy 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.
Contact:
Maggie Kost, Director of Communications
Missouri Department of Economic Development
(573) 522-5058
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