DOE awards $66M to 17 states in energy efficiency grant funding

The U.S. Department of Energy (DOE) awarded grants totaling $66 million to 17 states and territories to from the Energy Efficiency Revolving Loan Fund (RLF) Capitalization Grant Program.

The program provides funding to states and territories to establish or increase revolving funds enabling them to issue loans and grants for energy efficiency audits, upgrades, and retrofits. In turn, it will help these states and territories to make capital available to fund energy efficiency projects in public buildings,

“Increased opportunities for low-cost financing will help states and territories expand access to the money- saving clean energy tools that will benefit the residential, commercial and public sectors,” U.S. Secretary of Energy Jennifer Granholm said. “We are excited to see states and territories take advantage of targeted and impactful financing options to transform their communities.”

The grants were awarded to Arizona ($2,453,810), Iowa ($7,068,920), Puerto Rico ($1,070,490), Texas ($22,365,890), U.S. Virgin Islands ($576,170), Colorado ($1,631,220), Delaware ($746,400), Kansas ($6,706,230), Maine ($863,110), Massachusetts ($1,894,760), Minnesota ($1,884,300), Nevada ($1,043,290), New Jersey ($2,383,510), New Mexico ($5,692,530), Oklahoma ($7,592,300), and Rhode Island ($762,790).

This is the third round of awards from the Revolving Loan Fund Capitalization Grant Program with the DOE planning to announce additional awards later this year. In total, the RLF Program will provide $242 million with 40 percent of the funds allocated to all states, territories, and the District of Columbia, and 60 percent reserved for priority states as defined in the Bipartisan Infrastructure Law.

Energy efficiency financing accelerates the adoption of clean energy, according to a study produced by Lawrence Berkeley National Laboratory, the State and Local Energy Efficiency Action Network, and DOE. Each dollar that the federal government invests in a state or local revolving loan fund can attract upwards of $20 in private capital.

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