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AL Loan Program Helps Businesses Be More Energy Efficient

Starting 12/1 /10 Alabama businesses wanting to become more energy efficient will have an easier time finding the money to make those changes. The Alabama Department of Economic and Community Affairs has started a $60 million revolving loan program called AlabamaSAVES (Sustainable and Verifiable Energy Savings). Alabama industrial and commercial business owners will be able to apply for 2 percent interest loans of between $250,000 and $4 million to finance energy-saving improvements to their facilities. The loans can be used to upgrade heating and air-conditioning systems, windows and doors, electrical systems, water heating systems, energy management systems, lighting and insulation.