LoanSTAR Funding for Energy Efficient Projects
The State Energy Conservation Office (SECO) recently announced that funds for the LoanSTAR (Saving Taxes and Resources) revolving loan program will be available May 1, 2015. This program “finances energy-related cost-reduction retrofits for state, public school district, public college, public university and tax-district supported public hospital facilities.” SECO provides the funds in the form of low interest loans that borrowers can repay through the energy cost savings they will incur from their projects.
Freese and Nichols is experienced in helping clients prepare and apply for this program. We recently helped the Texas Army National Guard secure $720,000 from SECO for efficient system upgrades at multiple sites in Texas. We are also helping them with the design of the energy-related projects for which they were granted funding.
The LoanSTAR program is responsible for funding more than $395 million in loans and achieving more than $419 million in energy savings, resulting in tax savings for Texas residents. View the Texas Administrative Code page for information on LoanSTAR project eligibility, application process and more.
To discuss your questions about the LoanSTAR program or for assistance in applying for funding, contact Vimal Nair, Energy Efficiency Specialist.