Department of Energy Announces Six Awards from RLF Program
The six awards totaled around $45 million. June 13, 2024
By Jeff Wardon, Jr., Assistant Editor
As part of President Biden's Investing in America agenda, the U.S. Department of Energy (DOE) has announced six awards totaling about $45 million from the Energy Efficiency Revolving Loan Fund Capitalization Grant (RLF) Program. This program, supported by the Bipartisan Infrastructure Law, gives states and territories funds to offer loans and grants for energy efficiency audits, retrofits and upgrades. The RLF program helps states access funds for energy efficiency projects and encourages financial institutions to help American families and small businesses save money and lower their energy costs.
Here's how six of the grantees plan to use the funds:
- District of Columbia: Will create a new revolving loan fund to help owners and developers of affordable housing achieve higher energy efficiency and sustainability standards.
- Illinois: Will set up a new revolving loan fund for commercial building owners to maximize energy savings, benefit local communities, especially disadvantaged ones, and advance climate and energy goals.
- Indiana: Will establish a new revolving loan fund to provide financing opportunities in the residential and commercial sectors by co-lending with private lenders.
- Pennsylvania: Will create a new revolving loan fund for municipalities, especially disadvantaged communities, to support energy efficiency upgrades and on-site energy generation projects, reducing pollution and energy costs. Pennsylvania will use RLF funds along with Energy Efficiency and Conservation Block Grant (EECBG) funds.
- Tennessee: Will establish a new revolving loan fund for local government buildings to achieve efficient, clean, affordable, and resilient buildings. The state will offer grants to small businesses and homeowners and will use RLF funds along with EECBG funds.
- Vermont: Will set up a new revolving loan fund for public buildings to support energy resilience and conservation retrofits to existing municipal infrastructure. Vermont will use revolving loan funds alongside EECBG funds.
This is the first round of awards, and DOE plans to announce more later this year. Overall, the RLF Program will provide $242 million to support energy efficiency revolving loan funds, with 40 percent going to all states, territories, and the District of Columbia, and 60 percent reserved for priority states as defined in the Bipartisan Infrastructure Law.
Jeff Wardon, Jr. is the assistant editor for the facilities market.
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