ANNAPOLIS (August 25, 2008) – Governor Martin O’Malley and Maryland Energy Administration Director Malcolm Woolf announced today that $1.5 million in energy efficiency loans are now available to nonprofit organizations, local governments, and eligible businesses for projects that promote energy conservation and efficiency, as well as reduce consumption of fossil fuels.
“Conservation is a key component of our efforts to move forward and build a more secure, stable, and sustainable future for Maryland,” Governor O’Malley said. “These energy efficiency loans bring us one step closer to realizing Maryland’s nation-leading conservation and renewable energy goals, by encouraging our local governments and businesses to take action.”
Funding is made possible through the Jane E. Lawton Conservation Loan Program, which was renamed during the last legislative session to honor Delegate Lawton and her dedication to the environment and energy efficiency for the State of Maryland.
“This is an incredibly attractive financing opportunity since loans are repaid through cost savings once energy efficiency investments have been put into place,” MEA Director Malcolm Woolf said. “The Jane E. Lawton Conservation Program will provide qualifying organizations funds to make much needed energy improvements without the financial barriers that once may have prevented these renovations.”
In order to be considered for the Program, proposed projects must save energy, and have a simple pay-back of seven years or less.
The interest rates of the loans are guaranteed to be below market rate,
according to State officials.
Interested parties should contact Program Manager, David Cronin, at dcronin (at) energy.state.md.us, or call 410-260-7543. Additional information, along with the application form, is available online at
http://www.energy.maryland.gov/.... The deadline for applications is November 1, 2008.
Source: Office of the Governor