DOE deal
Texas lands largest portion of energy efficiency-focused federal grant program
Texas is among one of 17 states and territories to receive a portion of $66 million in awards for initiatives that pump federal dollars into their communities to support energy efficient projects.
The funds come from the U.S. Department of Energy's Energy Efficiency Revolving Loan Fund (RLF) Capitalization Grant Program. The RLF Program awards are intended to be put toward state-based loans and grants that go towards local businesses homeowners, and public spaces for "for energy efficiency audits, upgrades, and retrofits to increase energy efficiency," according to the DOE.
Texas received the largest portion thus far at $22.4 million. The dollars will go toward the creation of a new Texas-based revolving loan fund that operationally matches the existing Texas LoanSTAR revolving loan program.
The program currently finances energy-related, cost-reduced retrofits of public spaces as well as local municipalities. As of last year it had awarded more than 337 loans totaling more than $600 million, according to the Texas Comptroller's website.
In addition to the revolving loan, the state plans to use the DOE funds to provide free energy audit services to the community.
The DOE also awarded funding to create similar revolving loan programs and grants in Arizona, Georgia, Iowa, Puerto Rico and the U.S. Virgin Islands.
According to the DOE, every federal dollar invested into a state or local revolving loan fund can bring more than of $20 in private capital toward successful energy financing programs.
“Increased opportunities for low-cost financing will help states and territories expand access to the money-saving clean energy tools that will benefit the residential, commercial and public sectors,” Jennifer M. Granholm, U.S. Secretary of Energy, said in a statement. “We are excited to see states and territories take advantage of targeted and impactful financing options to transform their communities.”
The latest funding is the third award made by the RLF Program, which plans to make another round of awards later this year and a total $242 million once wrapped.
Other awards in this latest round include:
- Arizona ($1,690,280)
- Colorado ($1,631,220)
- Delaware ($746,400)
- Georgia ($2,453,810)
- Iowa($7,068,920)
- Kansas ($6,706,230)
- Maine ($863,110)
- Massachusetts ($1,894,760)
- Minnesota ($1,884,300).
- Nevada ($1,043,290)
- New Jersey ($2,383,510)
- New Mexico ($5,692,530)
- Oklahoma ($7,592,300)
- Puerto Rico ($1,070,490)
- Rhode Island ($762,790)
- U.S. Virgin Islands ($576,170)
Click here and here to read more about the previous awards.
Earlier this summer the DOE also awarded four Houston companies have received $50,000 each from the U.S. Department of Energy to further develop their carbon dioxide removal technology. Click here to read more.
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