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$20 million to improve energy efficiency in Virginia

Staff writer |
Governor Terry McAuliffe announced the launch of VirginiaSAVES, the Commonwealth’s first Green Community Program.

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VirginiaSAVES is a loan program created to lower financing costs for energy efficiency, renewable energy generation and alternative fuel projects. This low-cost financing tool will be available to local government, institutional and commercial and industrial entities in the Commonwealth.

VirginiaSAVES will be funded through $20 million in federally-allocated Qualified Energy Conservation Bonds (QECBs).

Developed by the Division of Energy of the Virginia Department of Mines, Minerals and Energy, VirginiaSAVES (which stands for Sustainable and Verifiable Energy Savings) is administered by Clean Source Capital and Abundant Power Group.

The program is funded through Virginia’s allocation of QECBs. The QECBs were allocated to Virginia in 2010 by the Federal Department of Energy and re-authorized for use by Governor McAuliffe in 2014 under Executive Order 36. As the program grows, additional funding may be added as needed.

Those interested in applying for a loan through the VirginiaSAVES Green Community Program can visit the program’s website (http://www.vasavesgcp.com) for borrower eligibility and project selection criteria, service provider registration forms and other program documents and information.


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