Description
The State of Michigan is seeking information to better understand best practices around financial products and lending practices for energy efficiency projects. The Michigan Department of Environment, Great Lakes and Energy (EGLE) has received $13,327,440 to capitalize residential and commercial loans and grants to install cost-effective energy efficiency measures. The information gathered may be used to assist the State in developing program strategy and possibly a Request for Proposals (RFP) or program application.
Key aspects of the project include:
• Providing grants and loans to conduct commercial and residential energy audits and energy efficiency upgrades and retrofits of building infrastructure
• Maximizing loan volume and leveraging private capital
• Accelerating and maximizing energy savings
• Creating good paying jobs
• Partnering with state or federal programs to offer loan products or services
• Complying with federal flow-down requirements