Seven public schools will receive approximately $2.8 million in low-interest loans to fund energy-efficiency and renewable energy projects, according to the Missouri Department of Natural Resources’ Division of Energy.
The funded projects are expected to support 35 jobs and benefit more than 12,000 Missourians, with annual energy savings resulting in approximately $404,527. 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 3,923,815 kilowatt hours and natural gas use by 2,203 million Btu, avoiding 2,874 metric tons of carbon dioxide pollution, which equates to removing 608 passenger cars from the road for a year.
“The Energy Loan Program provides the opportunity to make improvements by installing energy-efficient innovations,” said Craig Redmon, director of the Division of Energy. “The Loan Program stimulates Missouri’s economy by saving taxpayers money, allowing the applicants to redirect savings toward other priorities and helps create jobs for the state of Missouri.”
Since the Energy Loan Program’s inception in 1989, the Division of Energy has awarded more than 600 loans resulting in more than $115 million in completed energy efficiency projects and more than $214 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, local governments and public and private not-for-profit hospitals 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 energyloan.mo.gov or contact the Missouri Department of Natural Resources’ Division of Energy at 573-751-2254 or toll-free at 855-522-2796.