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Missouri to award $4 million in energy loans

JEFFERSON CITY-Gov. Nixon today announced more than $4 million has been awarded for low-interest loans to assist seven public schools, seven local governments and one public hospital with energy-efficiency and renewable energy projects. The funded projects, which are expected to support 69 jobs and benefit more than 117,000 Missourians, are expected to result in an annual energy savings of approximately $491,830.

“The Energy Loan Program makes our schools, hospitals and government buildings more energy efficient,” said Gov. Nixon. “By making these low-interest loans available, we are helping communities save taxpayer dollars while creating jobs and supporting local economies.”

The loans will be repaid with money saved on energy costs as a result of implementing energy efficiency upgrades and improvements. In addition, the projects will reduce electricity use by more than 853,202 kilowatt hour (kWh) and natural gas use by 12,344 Million Btu (MMBtu), avoiding 1,242 metric tons of carbon dioxide pollution, which equates to removing 261 passenger cars from the road for a year.

Since the Energy Loan Program’s inception in 1989, the Department of Economic Development’s Division of Energy has awarded more than 557 loans resulting in more than $95 million in completed energy efficiency projects and more than $176 million in estimated cumulative energy savings. Through the department’s Division of Energy, low-interest loans are provided to public schools, public and private higher education institutions, public and private not-for-profit hospitals, and local governments to help reduce energy costs. Loan financing may be used for various energy-saving investments such as insulation, lighting systems, heating and cooling systems, combined heat and power, pumps, motors, aerators, renewable energy systems and other measures that reduce energy use and cost.

For a list of recipients or to learn more about the Energy Loan Program, please visit http://energyloan.mo.gov or contact the Missouri Department of Economic Development’s Division of Energy at 573-751-2254 or toll-free at 855-522-2796.

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