News Release 019

Loans Available for Energy Improvements

Volume 39-019 (For Immediate Release)
For more information: 573-751-1010

The Missouri Department of Natural Resources announced today it is making $5 million in low-interest loans available to schools, governments and not-for-profit hospitals to complete energy-efficiency and renewable energy projects. The department’s Division of Energy is accepting loan applications for projects costing between $5,000 and $500,000 from March 1 through August 31. Loan applications will be evaluated on a competitive basis.

“Saving energy means saving money, and the savings achieved through qualified projects will allow schools, local governments, colleges and universities to redirect funding to other essential services,” said Sara Parker Pauley, director of the Missouri Department of Natural Resources. “The projects implemented as a result of these loans will provide much needed improvements to facilities, and will encourage the use of green technology, reduce greenhouse gases, help create jobs and stimulate Missouri’s economy.”

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. Those loans with the quickest payback in years, based on project cost versus anticipated energy cost savings, will receive priority. To apply, visit dnr.mo.gov/energy/financial/loan.htm.

The loans, administered by the department’s Division of Energy, are part of the Energy Revolving Loan Fund that assists public schools, city and county governments, public and private higher education institutions, and public and private not-for-profit hospitals. The fund provides loan financing for energy-saving investments such as insulation, lighting systems, heating and cooling systems, renewable energy systems and other measures that reduce energy use and cost.

Since the program’s inception in 1989, the Division of Energy has awarded more than 480 loans, accounting for nearly $84 million in energy-efficiency projects being completed and more than $158 million in estimated cumulative energy savings.

For more information about the loan program, call 800-361-4827 or email energyloan@dnr.mo.gov.

###