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Michigan Saves: Financing Energy Improvements for Homeowners, Businesses, and Local Governments

Michigan Saves: Financing Energy Improvements for Homeowners, Businesses, and Local Governments. Todd O’Grady, Program Coordinator. What Is Michigan Saves?. Residential Municipal Business. Structure . Key Michigan Saves roles:

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Michigan Saves: Financing Energy Improvements for Homeowners, Businesses, and Local Governments

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  1. Michigan Saves: Financing Energy Improvements for Homeowners, Businesses, and Local Governments Todd O’Grady, Program Coordinator

  2. What Is Michigan Saves? Residential Municipal Business

  3. Structure • Key Michigan Saves roles: • Provide loss reserve for participating lenders • Oversee authorized contractors • Drive demand for energy efficiency (outreach and incentives) • Set program guidelines and provide quality control

  4. Current programs

  5. Michigan Saves Home Energy Loan Program • Affordable, hassle-free loans • Easier than home equity – unsecured loan • $1,000 to $20,000 • Affordable rates and terms for low monthly payment • Easy, quick approval over the phone or online • Energy efficiency, solar, and geothermal • Find Michigan Saves authorized contractors –www.MichiganSaves.org

  6. Participating Lenders Eight lenders provide statewide coverage Michigan Saves provides 5% loss reserve

  7. Residential Loans Issued

  8. Business Energy Financing Statewide commercial financing ($2,000–$150,000) for energy efficiency improvements through local lender, Ervin Leasing Available to all types of businesses with focus on food industry Fast, easy process Below-market rates with flexible terms up to 5 years

  9. Lighting HVAC Refrigeration Kitchen / cooking equipment Controls and preventive maintenance Special offer! $2,000 rebate for 20% energy savings for businesses in food industry Typical Improvements Photograph by Marvin Shaouni

  10. From left to right: Terri Schroeder, Sally Talberg, Gov. Rick Snyder, Julie Metty Bennett, and Todd O’Grady.

  11. Resources and Contacts Todd O’Grady, togrady@michigansaves.org Phone (general): (734) 494-2190 Websites: www.michigansaves.orgwww.betterbuildingsformichigan.org Email: info@michigansaves.org

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