The Maryland Energy Administration announced today the Jane E. Lawton Conservation Loan Fund to finance energy efficiency improvements in buildings. Owners of commercial, institutional, industrial, government, and educational facilities in Maryland are eligible for the loans. Program funding of $1.7 million is available on a first-come, first-served basis. See additional terms of eligibility on the program webpage.
Energy-efficient buildings use technology to provide lower energy consumption and cost. Typical investments include lighting upgrades, heating, cooling, and ventilation improvements, automated building controls, insulation and other building shell improvements.
“This program has been a perennial favorite in Maryland since 2008,” said MEA Director Dr. Mary Beth Tung in a statement. “Borrowers appreciate the program’s extremely low interest rate.”
The standard interest rate is 1% APR for all borrowers except for state agencies, which will get 0% loans. Loan repayment will match the value of the energy savings so that borrowers can make improvements with a budget-neutral investment. Terms are up to 13 years, depending on the energy savings.
“These loans are a solution to today’s inflationary cost pressures,” added Dr. Tung. “Energy efficiency improvements reduce energy waste and expenses concurrently.”
Visit MEA’s webpage for more information and applications. Program Manager Brandon Bowser, brandonw.bowser@maryland.gov, is the contact for potential borrowers from the commercial, institutional, industrial, educational, and local government sectors. State agencies may contact Christopher Russell, Program Manager, at chris.russell@maryland.gov, with questions.
