VirginiaSAVES, the Commonwealth’s first Green Community Program is a loan program created to lower financing costs for energy efficiency, renewable energy generation and alternative fuel projects. This low-cost financing tool, available at the link below, is available to local government, institutional and commercial and industrial entities in the Commonwealth.
The program encourages investments that will save money, improve energy security, reduce Virginia’s dependence on federal spending and attract new jobs and advanced energy industries.
VirginiaSAVES (which stands for Sustainable and Verifiable Energy Savings) is administered by Clean Source Capital and Abundant Power Group. The program is funded through Virginia’s allocation of Qualified Energy Conservation Bonds (QECBs). These QECBs were allocated to Virginia in 2010 by the U.S. Department of Energy and re-authorized for use by Governor McAuliffe in 2014 under Executive Order 36. As the program grows, additional funding may be added as needed.
Those interested in applying for a loan through the VirginiaSAVES Green Community Program can visit the program’s website for borrower eligibility, project selection criteria, service provider registration forms, and other program documents and information.