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Tuesday, March 9, 2010

River Falls now offers innovative renewable energy finance program

From an announcement/news release issued by the River Falls Municipal Utility:

River Falls, Wis., March 9 – River Falls Municipal Utilities (RFMU) is pleased to announce that the innovative renewable energy finance program called “Save Some Green” is now being offered to residential customers interested in installing qualified renewable energy systems and making efficiency improvements to their property. To accomplish this goal, a loan pool has been established to offer low cost financing, with annual installment payments collected through property tax bills.

River Falls is the first community to offer an innovate program such as this. This finance program was based off a similar program, Berkeley FIRST. The City of Berkeley’s program provides financing to property owners interested in installing solar photovoltaic electric systems. Unlike Berkeley’s primary focus on solar, “Save Some Green” is designed for improvement projects such as: solar photovoltaic panel systems, solar hot water, solar thermal heating, geothermal systems, wind turbines, and major energy efficiency projects in connection with a renewable energy project. . . .

Funding is available to RFMU customers with property within the city limits of River Falls. The program may fund up to 100% of the cost of a qualified improvement with a minimum loan allowance of $2,500 and up to a maximum of $50,000 per property. Loan terms range from 5 to 20 years and are offered at a 4% interest rate.

“RFMU’s POWERful Choices! plans to establish River Falls as a model in the state and region by implementing community-wide sustainability initiatives, such as ‘Save Some Green’”, said Carl Gaulke, General Manager of RFMU. “We are excited to see the River Falls community work together to create a strong conservation ethic for a better energy future.”

For more information visit “Save Some Green” or contact RFMU at (715) 426-3467 or mnoreen@wppienergy.org.

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