101: VirginiaSAVES Green Community Loan Program
In case you missed it, in early September Governor McAuliffe announced the VirginiaSAVES Green Community Program, a loan program created to lower financing costs for energy efficiency, renewable energy generation and alternative fuel projects. This low-cost financing tool is available to local government, institutional and commercial and industrial entities in the Commonwealth and is funded through $20 million in federally-allocated Qualified Energy Conservation Bonds (QECBs).
Governor McAuliffe: “As stated in my Energy Plan, providing the public and private sectors with the tools they need to reduce energy consumption and save on energy costs is critical for building a new Virginia economy. VirginiaSAVES encourages investments that will save money, improve energy security, lessen Virginia’s dependence on federal spending and attract new jobs and advanced energy industries.”
See sample numbers for a $2M loan. And here is a program overview from Virginia Community Capital.
Developed by the Division of Energy of the Virginia Department of Mines, Minerals and Energy, VirginiaSAVES (which stands for Sustainable and Verifiable Energy Savings) is administered by Clean Source Capital and Abundant Power Group.
Visit the VirginiaSAVES website for more information, borrower eligibility and project selection criteria, service provider registration forms and other program documents and information.