South California Offers Finance to Businesses for Energy Efficiency

BUSINESSES in Southern California can now qualify for up to $100,000 in interest-free financing to improve the energy efficiency of their buildings and then have the monthly repayments added to their current regular electric bill from Southern California Edison.

The “On Bill” program will also apply to government and institutional customers, who will be eligible for up to $250,000 in financing for energy efficiency.

The funding for the programme comes to a total of $16 million available for government, institutional and business customers in the area between 2010 to 2012, said Vanessa McGrady, a Southern California Edison company spokeswoman.

The money comes from state energy efficiency funds awarded by the California Public Utilities Commission. Applications will be processed on a first-come, first-served basis.

The loans can be used for a range of energy-efficient upgrades for buildings, including such things as refrigeration, lighting, air conditioning and manufacturing processes, Ms McGrady added.

The minimum loan amount is $5,000 with repayment periods ranging from 5 to 10 years, depending on the life of the energy-efficient improvements installed.

Wednesday 4th August 2010

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