FOR IMMEDIATE RELEASE
LANSING, Mich. — Last week, Gov. Gretchen Whitmer put forth her FY22 Executive Budget Recommendation, which includes a $5 million investment in Michigan Saves, the nation’s first nonprofit green bank.
“I appreciate Governor Whitmer’s commitment to making critical investments in Michigan Saves that prioritize energy efficiency and renewable energy improvements for Michigan,” said Mary Templeton, president and CEO of Michigan Saves. “This funding makes energy improvements in homes and businesses much more accessible for Michiganders while keeping our state on a long-term path toward a clean energy landscape.”
This investment will create jobs, help stimulate the economy and expand the reach of clean energy improvements in Michigan. Every dollar of public investment in Michigan Saves leverages $30 of private investment for tangible clean energy improvements, providing the state with an unprecedented return on investment.
To date, Michigan Saves has enabled over $280 million in clean energy financing while supporting job creation and energy independence. Michigan Saves was created through a State of Michigan grant in 2009 to serve as the state’s green bank. Since then, the organization has successfully leveraged private dollars to build residential and commercial programs that are available to Michigan residents.
About Michigan Saves
Michigan Saves is a nonprofit dedicated to making energy improvements easier for all Michigan energy consumers. To accomplish this, Michigan Saves makes affordable financing and other incentives available through partnerships with private-sector lenders. We also authorize and monitor a network of contractors and recognize those with advanced training. Our current portfolio includes programs for residential, commercial, multifamily and municipal customers, and supports energy-efficiency, geothermal and solar photovoltaic projects. For more information, visit www.MichiganSaves.org.