Dec. 24, 2014: California Approves $13.5 Million in Loans for Energy-Efficient Upgrades to Schools
Three School Districts Receive Loans Through the Energy Conservation Assistance Act
SACRAMENTO, Calif. — The California Energy Commission approved $13.5 million for energy efficiency measures to 14 schools in the San Francisco Bay Area, San Joaquin County, and Orange County. The Energy Commission also approved grants to four entities to develop and research alternative and renewable fuel projects.
Three school districts received loans through the Energy Conservation Assistance Act (ECAA), a zero- or low-interest loan program providing funds to public entities. School districts, charter schools, county offices of education, state special schools, and community college districts are eligible for a zero-percent interest rate loan. Funding is provided by the Clean Energy Jobs Act (Proposition 39) through ECAA-Ed and must be used for energy projects.
Awardees for the $13.5 million include:
• Campbell Union School District: $7.5 million for energy efficiency measures and solar installation projects at 11 schools, which includes 10 charter schools. The individual projects will be paid back between 11 and 18 years and collectively will save more than $480,000 annually.
• Newport Mesa Unified School District: $3 million for renewable energy measures at the school district’s facilities. Based on the loan amount and California Solar Initiative incentives, the payback is roughly six years. The projects will save more than $460,000 annually.
• Patterson Joint Unified School District: $3 million to install solar photovoltaic panels at two school district sites. The project is estimated to save the district more than $165,000 in annual energy costs. Based on the loan amount, the payback is about 18 years.
For more information, visit www.energy.ca.gov.
Publication date: 12/22/2014