FOR IMMEDIATE RELEASE
Director of marketing and communications
LANSING, Mich. — The State of Michigan’s fiscal year 2022 budget will provide a $1.5 million grant for Michigan Saves, the nation’s first nonprofit green bank.
These funds, granted by the Michigan Public Service Commission, are integral to continue serving Michiganders with easy, affordable and accessible financing that accelerates clean energy work. The grant will help leverage $45 million in private investments by incentivizing lenders to provide more favorable rates and terms and expanded access. The money will support affordable, accessible loans for energy efficiency and renewable energy projects for the residential, commercial, nonprofit and government markets across every corner of the state.
“We commend Governor Whitmer and the Michigan Legislature for continuing their investment in Michigan Saves,” said Mary Templeton, Michigan Saves’ president and CEO. “Together, we can build a strong, more resilient Michigan, support local, good-paying jobs and make a lasting commitment to cleaner, more affordable and accessible energy and power real change.”
To date, Michigan Saves has enabled nearly $320 million in clean energy financing while supporting job creation and energy independence. The State of Michigan created Michigan Saves 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 at scale and available to the state’s energy consumers.
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.