DEP celebrates $30 million invested in low-interest loans for high-impact energy efficiency projects

The Pennsylvania Department of Environmental Protection (DEP) announced that the Green Energy Loan Fund has reached a milestone of $30 million invested in low-interest loans for high-cost energy efficiency projects. impact on commercial properties.

DEP Secretary Patrick McDonnell made the announcement during an event with leaders of the Leon H. Sullivan Charitable Trust and the Reinvestment Fund at the Leon H. Sullivan Human Services Center in Philadelphia.

“Energy efficiency has positive impacts on our lives,” said Secretary McDonnell. “Each time a company or organization installs an energy-efficient heating, cooling, or lighting system, it’s one step closer to Pennsylvania and the country’s path to independence from fossil fuels. It creates well-paying jobs in the manufacture and installation of energy efficiency systems. It reduces operating expenses, allowing an entity to focus more resources on its mission. It makes the air quality healthier in the community. And it helps reduce greenhouse gas emissions to slow down climate change and its negative effects.

the Green Energy Loan Fund prioritizes local community development efforts and seeks to support projects in the areas of environmental justice. Nearly 30% of funded projects are in buildings owned or controlled by people of color or low income, and more than half are located in low income census tracts. Local governments, businesses, school districts, hospitals, and nonprofit organizations can apply.

The fund helps commercial building owners take their energy efficiency projects beyond building code standards, which many other lenders are less willing to do. New equipment must reduce a building’s energy consumption by at least 25%, and entire building projects must reduce energy consumption by more than 10% compared to the current building energy code.

The Green Energy Loan Fund has supported a range of cutting-edge energy efficiency approaches in everything from new buildings and gut retrofits to the installation of HVAC systems, geothermal systems, boilers, chillers, windows , white roofs, insulation, smart elevator motors, LED lighting. and controls, water heaters, water conservation plumbing and an ultra-efficient laboratory exhaust system.

the Leon H. Sullivan Trust received $742,410 in low-interest financing to install a state-of-the-art HVAC system, including boilers and chillers, and upgrade lighting at the Sullivan Center. These measures will reduce electricity consumption by more than 51,000 kilowatt hours per year.

“The Leon H. Sullivan Human Services Center serves hundreds of Philadelphians every day, and services have become even more critical during the COVID-19 pandemic,” said Mable Welborn, Chairman of the Leon H. Sullivan Board of Trustees. Charitable Trust. “This program allows us to operate a more energy-efficient hub for the service providers and communities we serve. These improvements will allow us to continue to provide affordable and accessible office space to a large number of service providers, which is why this center was built by Dr. Sullivan in 1978. It has been and continues to be be the mission of the Trust because the community needs it.

DEP and Reinvestment Fund launched the Green Energy Loan Fund in 2009 with $12 million from the American Recovery and Reinvestment Act. Since then, the fund has financed 18 projects across the state, totaling $30 million in loans supporting improvements to 2.3 million square feet of building space.

“The Green Energy Loan Fund is more than just financing. It’s a model that not only enhances environmental sustainability, but is also sustainable in itself,” said Nancy Wagner Hislip, Chief Investment Officer of Reinvestment Fund. “Since its inception, the program has suffered no losses and has in fact renewed its capital more than once to continue generating energy savings, all at no additional cost to ratepayers.”

With 15 projects completed to date, the fund has supported the reduction of carbon dioxide emissions by 110,000 tonnes over the lifetime of these projects, which is equivalent to taking 22,000 cars off the road for one year.

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