Creating a more energy efficient state is a major priority for Texas. We are a worldwide leader in the energy sector and like any other leader we must stay on the forefront of everything related. One of the related, is the push for becoming more energy efficient. This ranges from solar panels, LED lighting, wind mills, etc. The only downfall is that these energy efficient projects cost much more than their counter parts. So in order for us to stay ahead, we must invest and help organizations achieve energy efficiency.
In order to do this we have created programs in order to help organizations with the cost of these projects. One such program is the LoanSTAR Revolving Loan Program. This program helps finance cost reducing energy retrofit projects for state, public school districts, public college, public university, and tax-district supported public hospital facilities.
This program provides low interest rate loans to assist these organizations in financing their energy cost reducing projects. Applicants then repay the loans through the energy cost savings they receive from the project.
Since January 2014, the LoneSTAR Loan Program has funded over 237 loans totaling at $395 million. The savings these programs have achieved is over $419 million.
But like any financial funding program you must meet certain requirements and eligibilities. The LoanSTAR Program is no different, so below we have listed what it takes to be eligible to receive funding.
- Experimental or undemonstrated track record technologies are not eligible for funding.
- Must have a demonstrated track record of cost-effectiveness.
- Must be commercially available.
- Each energy conservation measure must be unique in its application, location, building characteristics and/or target audience.
- Eligible energy conservation measure projects include:
- Indoor and outdoor lighting projects; (LED Lighting is a great choice.)
- Heating, ventilation, and air conditioning equipment.
- Electrical distribution equipment.
- Building shell improvements.
- Energy management systems.
- Energy recovery systems, including systems that generate electricity on-site.
- Alternate/renewable energy systems.
- Load management devices.
- Water systems and waste water systems energy conservation measures.
- Other cost-effective energy efficiency enhancements. demand, or rate based measures that the LoanSTAR Program has approved.
- Incremental cost on higher energy efficient equipment for new construction.
- All eligible measures must be recommended in an energy assessment report that a licensed professional engineer in a format that follows the LoanSTAR Loan Program guidelines, unless SECO specifically waives this requirement.
For more information about how the state of Texas is helping organizations reduce energy cost and maximize efficiency please visit the State Energy Conservation Office.
Also feel free to learn more about how LED Lighting can help in your energy efficiency projects.