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Opportunity for more solar projects - KOAM TV 7

Opportunity for more solar projects

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$2.5 million low interest loans available for on-site generation projects

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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