The New Mexico Energy, Minerals and Natural Resources Department announced it is accepting applications for loans to finance energy-efficiency upgrades in commercial buildings that serve a community purpose. Solar and electric panel upgrades are eligible for loans as part of a comprehensive energy efficiency project plan.
EMNRD received $5.3 million from the U.S. Dept. of Energy to create an Energy Efficiency Revolving Loan Fund (EERLF), which offers low-interest loans ranging from $250,000 to $1 million to eligible organizations across the state. Eligible organizations include nonprofit and for-profit entities that own or operate commercial buildings that serve a public service, such as education, recreation, healthcare or cultural services.
“This loan fund is one more way we are supporting Gov. Lujan Grisham’s goal of boosting New Mexico’s economy while also protecting its environment,” said EMNRD Sec. Melanie Kenderdine. “These loans will ensure the recipients’ economic viability by lowering the costs for building upgrades while simultaneously reducing their carbon footprints.”
The EERLF offers loans at a fixed rate of 2% to cover energy efficiency upgrades such as smart thermostats, new HVAC systems, insulation, air sealing, lighting and building envelope improvements.
Applicants must demonstrate that more than 50% of their revenue is earned in New Mexico or that more than 50% of their services are provided in the state.
EMNRD’s Energy Conservation and Management Division (ECAM) is partnering with the New Mexico Finance Authority to administer the program.
Interested applicants should complete an RLF Interest Form or email ECAM staff at emnrd-ecam@emnrd.nm.gov. ECAM staff will contact applicants within 48 hours of receiving an application to discuss their energy efficiency project.
News item from EMNRD
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