Energy Efficiency Retrofit Loan Program In Minnesota

The Saint Paul Port Authority (SPPA) is offering businesses in Minnesota with financial and technical support to plan and implement energy efficiency improvement projects. Their goal is to see annual reduction in energy consumption of one trillion Btus, equivalent to yearly energy usage of half of Downtown of Saint Paul.

SPPC is using Federal stimulus monies through the Minnesota Department of Commerce to create a business loan program. To enter the program, businesses first voluntarily agree to conduct energy audits paid for by the Xcel Energy Company. Engineering studies then are performed on portions of the facility with conservation opportunities, with 25% of the cost paid by the participating business and 75% paid by Xcel Energy. Finally the installation of necessary physical improvements is covered by a Port Authority Loan and an Xcel Energy Rebate. Loan repayment rate is calculated to be less than estimated energy savings.

SPPA and the other program participants hope that businesses will achieve reduced energy costs, and will have access to innovative “postive-cash-flow” project financing following stringent technical and financial due diligence. Participating businesses will be more competitive and able to maintain employment levels. As a result more of Minnesota’s capital will remain in the State and less will go to purchase foreign fossil fuels. The program would also enhance the ability of utilities to meet their energy savings goals in the Next Generation Energy Act of 2007.

Caltha LLP provides certified COMMERCIAL ENERGY MANAGERS (CEM) to conduct Commercial Energy Audits in Minnesota.

For further information, contact Caltha LLP at:
Email: info@calthacompany.com
Phone: (763) 208-6430
Website: http://www.calthacompany.com/
Two Minnesota offices - Minneapolis and Pine River