Statewide Business Energy Financing Program Launches
LANSING — Gov. Rick Snyder Friday kicked off the Michigan Saves business energy financing program, encouraging businesses to save money through energy-efficient upgrades.
The governor visited Hiller’s Markets in Northville to launch the statewide initiative.
“The Michigan Saves business energy financing program is a win-win-win for Michiganders,” said Governor Rick Snyder. “It helps businesses save on costs, creates good-paying jobs and moves us toward a greener energy future.”
Michigan Saves helps Michigan businesses across the state reduce costs by providing low-interest financing for energy-efficient lighting, heating and cooling systems, insulation, refrigeration, equipment, and more.
Businesses make the upgrades with the help of authorized contractors and affordable financing of $2,000 to $150,000 with lending partner Ervin Leasing and capital provider Bank of Ann Arbor.
Michigan Saves is a public-private partnership seeded with public funds and works with private lenders to provide affordable financing to help homes and businesses save energy and money.
Buildings and properties that are owned or occupied by businesses or nonprofit organizations located anywhere in the state of Michigan are eligible for Michigan Saves Business Energy Financing, subject to credit review by Ervin Leasing.
Typical improvements to the business could include: replacing T12 fluorescents with T5 fluorescents or LEDs; installing anti-sweat heater controls; installing vertical night covers on open deck coolers and replacing door gaskets on walk-in coolers.
“In order to help achieve the targets set in the 2008 renewable energy law, the Michigan Public Service Commission provided financial support to jumpstart Michigan Saves which was carefully designed to make it easy for all homeowners to make energy-efficient and renewable energy improvements to their homes,” said Michigan Public Service Commission member Greg White. “Now we are proud to extend this assistance to businesses across the Great Lakes state.”
Subject to available funding, Michigan Saves is also offering $2,000 incentives to businesses in the food industry that cut their energy consumption by 20 percent or more. This is available to restaurants, convenience and grocery stores, and food wholesalers.
Said Justin Hiller, vice president of Hiller’s Markets: “We are pleased to have a welcoming, light and bright presence at all of our grocery markets. But that signature business model comes at a price. We are always looking for advantageous opportunities for our business and our customers and this program will help us speed up our efforts to go green while saving money. We thank the governor for highlighting our efforts.”
The Michigan Saves Business Energy Financing Program launch comes on the heels of Governor Snyder’s special energy message last week. Energy efficiency was highlighted as a cornerstone for the administration’s energy policy. The program is supported by the Michigan Energy Office, housed under the Michigan Economic Development Corporation and the U.S. Department of Energy. According to the American Council for an Energy-Efficient Economy (ACEEE), Michigan is the “most improved state” in the nation in terms of energy efficiency policies and performance over the past two years.
“Energy efficiency is a pro-growth strategy that aligns with the state’s plan to provide local businesses with the tools they need to foster economic growth and grow new jobs” Snyder said.
Businesses can get more information by visiting www.MichiganSaves.org.
Ervin Leasing was established in 1978 and is a privately held national equipment lease and finance company headquartered in Ann Arbor.