The New Mexico Energy, Minerals and Natural Resources Department (EMNRD) has announced the opening of applications for a new loan program aimed at financing energy-efficiency upgrades in commercial buildings that serve community purposes. The initiative is backed by $5.3 million from the U.S. Department of Energy to establish an Energy Efficiency Revolving Loan Fund (EERLF). This fund will provide low-interest loans ranging from $250,000 to $1 million to eligible organizations throughout New Mexico.
Organizations eligible for these loans include both nonprofit and for-profit entities that own or operate commercial buildings serving public services such as education, recreation, healthcare, or cultural services. "This loan fund is one more way we are supporting Gov. Lujan Grisham’s goal of boosting New Mexico’s economy while also protecting its environment," said EMNRD Secretary Melanie Kenderdine. "These loans will ensure the recipients’ economic viability by lowering the costs for building upgrades while simultaneously reducing their carbon footprints."
The EERLF offers loans at a fixed interest rate of 2% to finance various energy efficiency improvements including smart thermostats, new HVAC systems, insulation, air sealing, lighting, and building envelope enhancements. Solar and electric panel upgrades can also be included as part of a comprehensive energy efficiency project plan.
Applicants must demonstrate that over 50% of their revenue is generated in New Mexico or that more than half of their services are provided within the state. The program is administered by EMNRD’s Energy Conservation and Management Division (ECAM) in partnership with the New Mexico Finance Authority.
Interested parties should complete an RLF Interest Form or contact ECAM staff via email at emnrdecam@emnrd.nm.gov. ECAM staff will reach out to applicants within 48 hours upon receiving an application to discuss their proposed energy efficiency projects. Additional information can be found on the EERLF website or by contacting emnrd-ecam@emnrd.nm.gov.
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