$1.7 Million in Loans Available to Maryland Building Owners for Energy Efficiency Investments
FOR IMMEDIATE RELEASE
Contact: Jahmai Sharp-Moore | 443-694-3651
Baltimore, MD – The Maryland Energy Administration (MEA) is pleased to announce the Fiscal Year 23 (FY23) Jane E. Lawton Conservation Loan Fund to finance energy efficiency improvements in buildings. Eligible recipients are building owners of commercial, institutional, industrial, government, and educational facilities located in Maryland. Program funding of $1.7 million is available on a first-come, first-served basis. Potential applicants should note additional terms of eligibility on the program webpage.
Energy-efficient buildings employ advanced technologies to provide desired levels of comfort and service with lower energy consumption and cost. Typical investments include lighting upgrades, heating, cooling, and ventilation improvements, automated building controls, and insulation and other building shell improvements.
“This program has been a perennial favorite in Maryland since 2008,” said MEA Director Dr. Mary Beth Tung. “Borrowers appreciate the program’s extremely low interest rate.”
The standard interest rate is 1% APR for all borrowers except for state agencies, which are offered 0% loans. Loan repayments are structured to match the value of energy savings, so that borrowers can enjoy improvements with a budget-neutral investment. Terms are up to 13 years, depending on the scale of 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.”
The Lawton Conservation Program supports Governor Hogan’s commitment to address climate change through the deployment of energy-efficient technologies, especially those in the building sector. Visit MEA’s webpage for more information and applications. Program Manager Brandon Bowser, firstname.lastname@example.org, 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 email@example.com, with questions.