The Minnesota Department of Commerce has just announced two new financing programs that are available for local governments and public entities in the state interested in pursuing energy efficiency and renewable energy projects.
New Rev It Up Program to help local government units finance community energy efficiency, renewable energy projects
Through its new Rev It Up Program, the Minnesota Department of Commerce is soliciting request for proposals from local government units that are seeking low-cost, long-term capital to finance community energy efficiency and renewable energy system projects. The program allows units of local government to compete for funding designed to increase community energy efficiency systems in the built environments and to increase renewable energy production throughout the state that result in reductions in energy consumption and greenhouse gas emissions.
The Minnesota Legislature provided Commerce with authority to issue up to $100 million in revenue bonds, of which up to $20 million shall be reserved for community energy efficiency and renewable energy projects taking place in small businesses and public buildings, with the balance of funding reserved to provide loans or other aids to industrial or commercial businesses and healthcare facilities for cost-effective energy efficiency projects or to install renewable energy systems.
The RFP and required forms are available for download on the Commerce website. Proposals are due no later than 11:59 p.m., Aug. 7, 2015.
Public entity loan program supports energy audits, renewable energy feasibility studies
A loan program to provide public entities with funds needed to pay for energy audits and renewable energy feasibility studies was recently launched by the Minnesota Department of Commerce. Loan applications will be accepted from public entities on a first-come, first-served basis until all program funds have been allocated. Eligible entities include any agency or institution of the state, a county, a statutory or home rule charter city, a town, a school district, or a special taxing district of the state.
You can read more for program guidelines and an application.
