Michigan Saves Climate Fund

Drive Cost Savings with Low-Cost Financing up to $10 Million for Clean Energy Projects

From reducing energy costs that can be reinvested into your business to adopting technology like solar and battery storage to cut emissions and enhance your building’s resilience—the Michigan Saves Climate Fund can help you make your clean energy projects a reality. Supported by funding from the U.S. Environmental Protection Agency’s Greenhouse Gas Reduction Fund, Michigan Saves offers flexible financing for large-scale clean energy projects. We provide financing up to $10 million per project to businesses, nonprofits, and government organizations for energy efficiency building upgrades, solar panels, batteries, geothermal, electrification, and EV infrastructure and fleets.

We’re committed to prioritizing projects that benefit low-income and underserved communities, rural areas, and tribal lands, helping to expand access to clean energy for all communities. As a trusted financial partner, we provide the resources to move projects forward, reducing costs and enhancing impact for businesses and communities.

Download Fact Sheet

What Properties and Entities Are Eligible?

  • For-profit businesses
  • Nonprofit organizations
  • Local governments
  • Public school districts or higher education institutions
  • Tribal governments
  • Electric, natural gas, steam, and sustainable energy utilities

Residential customers are not eligible directly, but financing is available for financial intermediaries that serve residential customers

Michigan Saves Climate Fund Facts

Eligible measures:

  • Net-zero buildings (e.g., energy efficiency and electrification in retrofitted buildings, net-zero new construction)
  • Distributed generation and energy storage (e.g., battery storage and solar)
  • Zero-emission transportation (e.g., EV charging infrastructure and fleets)

Priority Areas/Projects:

  • Projects that are ready for execution
  • At least 50 percent of the Climate Fund’s projects must be located in low-income and disadvantaged communities (LIDAC)
  • Rural and tribal areas

Financing amounts:

$500,000- $10 million*
* Higher amounts will be considered based on overall portfolio and project benefits.

Term:

Varies, targeting portfolios with average of seven-year tenor

Interest rate:

As low as 2.99%

Fees and expenses:

No application fee; origination and due diligence fees subject to LIDAC applicability

How Does the Process Work?

1 Start with a consultation: Read the request for applications (RFA) and Contact Michigan Saves through our intake form to discuss your project’s suitability for the program. Property owners, project developers, contractors, or lending partners can reach out to explore financing options.

View the RFA
Complete the Intake Form
2 Submit your application: Once your project is confirmed as a good fit for the Michigan Saves Climate Fund, complete the request for applications form to begin the formal process.

Complete the Application
3 Receive guidance throughout the process: Michigan Saves will review your application and contact you for additional information as needed. Our team will support you through every step, from structuring the financing to managing underwriting and origination, ensuring your project stays on track.

Let’s Build a Sustainable Future Together

Ready to finance your clean energy project?

Complete the Intake Form