Department to award approximately $1.4 million in energy loans
JEFFERSON CITY—The Missouri Division of Energy announced today the award of $1,486,654 for low-interest loans to assist a university and two public schools with energy efficiency projects.
The funded projects, which are expected to support 19 jobs and benefit more than 10,485 Missourians, are expected to result in annual energy savings of approximately $174,674. 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 1,656,331 kilowatt hours (kWh) and natural gas use by 2,681 Million Btu (MMBtu), avoiding 1,307 metric tons of carbon dioxide pollution, which equates to removing 276 passenger cars from the road for a year.
“The Energy Loan Program provides the opportunity to make improvements by installing energy innovations,” said Director of the Division of Energy, Craig Redmon. “The loan project stimulates Missouri’s economy by saving taxpayer money, allowing the applicants to redirect savings toward other priorities, and helps create jobs for the state of Missouri.”
Since the Energize Missouri Loan Program’s inception in 2012, the Department of Economic Development’s Division of Energy has awarded more than 26 loans resulting in more than $16 million in completed energy efficiency projects and more than $18 million in estimated cumulative energy savings.
Through the state’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 Missouri Division of Energy, please visit energy.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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