Energy Efficiency Funding for Space Coast Businesses

BUSINESSES in Florida’s Space Coast can benefit from an energy efficiency funding program to be rolled out in August.

Low-interest loans for local businesses, promising 20 percent or more savings on electric bills will be available through the Solar and Energy Loan Fund (SELF), a nonprofit group based in St. Lucie County, Florida.

After an energy audit to identify best practices and clean energy technologies that would provide a rapid return on investment, SELF’s financial experts work with the business to provide low-interest, no-money-down loans for the proposed projects.

SELF offers two types of commercial lending service, low-interest commercial loans and a special financing for commercial property owners, called Commercial PACE (Property Assessed Clean Energy). PACE funding differs from a traditional loan in that the repayment is easily collected through the property tax bill, and qualifying does not depend on your personal credit. SELF has partnered with Florida Green Energy Works, a state-wide PACE program.

SELF was one of 20 local programs selected nationally to get funding from the U.S. Department of Energy’s Energy Efficiency and Conservation Block Grant program. Now they’re working with financial institutions, foundations and others to invest in the loan pool and expand into several other counties.

Picture by Michele Haro, Historic Downtown Melbourne in Melbourne, Florida. reproduced under CCL.

Tuesday 2nd July 2013

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