Minnesota

SEP Provided Rebates through $15 Million, "Trillion BTU Improvement Program"

$15 million                          
Trillion BTU                                   
loan fund

$24.3 million
Total loan originations        

146 billion
BTUs saved annually
 

 

In Minnesota, the State Energy Office utilized SEP funding to launch the Trillion BTU energy efficiency improvement program.  The program has leveraged $15 million in funds to originate 71 loans to businesses and nonprofits over five years.  The low-interest loans (4-6 percent) have allowed borrowers to save $5.3 million each year and reduce energy consumption by more than 146 billion BTUs annually.  The revolving loan fund program has created or retained over 1,000 jobs.  Loan amounts range from $50,000 to $1 million, with terms up to five years.  Minnesota’s State Energy Office leveraged SEP funds to create the program, and is overseeing the program, which is administered by the Saint Paul Port Authority.  

Contact Information for the Minnesota Energy Office