JEFFERSON CITY, Mo.— The Missouri Division of Energy announced today that approximately $5.1 million has been awarded for low-interest loans to assist four public schools, three city/county governments, and one fire protection district with energy-efficiency and renewable energy projects.
The funded projects, which are expected to support 65 jobs and benefit more than 439,062 Missourians, are expected to result in annual energy savings of approximately $720,484. 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 10,101,195 kilowatt hour (kWh) and natural gas use by 4,915 Million Btu (MMBtu), avoiding 7,362 metric tons of carbon dioxide pollution, which equates to removing 1,556 passenger cars from the road for a year.
“The Energy Loan Program provides the opportunity for Missouri schools, hospitals, and governments to make improvements by installing clean energy innovations in their buildings,” said Director of Division of Energy, Kristy Manning. “The loan project stimulates Missouri’s economy by saving tax payer 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 Department of Economic Development’s 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. Through the department’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.