SEM has been picked to perform energy audits for small businesses in Carrboro that take advantage of the loans.
CARRBORO – Carrboro businesses and nonprofits with fewer than 50 employees can now apply for low-cost loans for energy-efficient upgrades.
The Energy Efficiency Revolving Loan Fund provides loans of $1,500 or more at 3 percent interest over 10 years for new upgrades to heating and cooling systems, lighting, insulation, roofs, appliances, water heaters, windows and motors.
Solar projects qualify only as part of a larger energy improvement plan.
The program’s goal is to help businesses cut the amount of electricity, water or gas they use – and their utility bills – by 15 percent to 20 percent.
Businesses must provide one year of utility bills as part of their application. When the work is complete, it will be verified through an on-site inspection and utility bills for the next three years.
The program is being funded with a $55,000 grant from the U.S. Department of Energy through the Southeastern Energy Alliance.
Chapel Hill also received part of the grant and will use $150,000 mostly for residential upgrades.
Carrboro has set aside $5,000 of its grant money for residential energy audit rebates.
More money may be available next year for residential upgrades, officials said.
The Economic Sustainability Commission – an advisory board of residents, business owners and employees – will submit qualified finalists to the Carrboro Board of Aldermen for a decision.
Each qualifying business will get an energy usage audit from Southern Energy Management, Dodd said.
Read the rest of the article from the Chapel Hill News here.
