Connecticut Colleges Sharing $1 Million Energy Efficiency Loan
October 18, 2012
Connecticut's Clean Energy Finance and Investment Authority (CEFIA) recently announced it is lending $1 million to advance energy efficiency and promote cleaner energy the state's independent colleges. The "Campus Efficiency Now" pilot program will enable the participating colleges to move forward swiftly with energy saving measures with no upfront funding by the college.
CEFIA will loan up to $1 million to support the installation of energy efficiency upgrades. These funds will be repaid by participating Connecticut Conference of Independent Colleges (CCIC) member schools via savings generated by the projects under a 5-year energy savings agreement. The initial program partners see this as a chance to expand the proven energy services performance contract approach into this historically underserved market. This pilot program, developed by GreenerU, Inc., is expected to include the University of Hartford, Mitchell College, Connecticut College, University of Saint Joseph, and the University of New Haven. See the CEFIA press release.