Description
The Michigan Department of Environment, Great Lakes and Energy is seeking information to better understand best practices around financial products and lending practices for energy efficiency projects. The goal is to develop a program strategy and possibly a Request for Proposals (RFP) or program application for the Energy Efficiency Revolving Loan Fund Capitalization Grant Program. The program aims to provide grants and loans for commercial and residential energy audits and energy efficiency upgrades.
Key aspects of the program include:
• Maximizing loan volume and leveraging private capital
• Accelerating and maximizing energy savings
• Creating good paying jobs
The RFI includes term sheets that describe possible outlays of responsibilities for program lenders and the state of Michigan, and the department is seeking feedback on the program's attractiveness to lenders and potential barriers or drawbacks.