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Vermont launches new energy loan program

Published on NewsOK Modified: February 21, 2013 at 3:01 am •  Published: February 21, 2013
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MONTPELIER, Vt. (AP) — The state of Vermont is launching a new program to make low-interest loans available to businesses for renewable energy and efficiency projects.

Jo Bradley, CEO of the Vermont Economic Development Authority, says the initiative will consolidate and expand existing loan programs and is aimed at encouraging more private banks to get involved along with the state.

The Vermont Clean Energy Loan Fund is expected to provide up to $10 million in financing for energy efficiency projects undertaken by businesses.

Another, related loan fund will be devoted to loans of up to $150,000 for energy conservation projects.

Bradley pointed to a recent national study urging that states help promote financing for projects designed to help the nation move toward a low-carbon future.