Energy efficiency saves money.

However, one of the biggest barriers to energy efficiency is the sticker price. Although eventually investments in efficiency save money, the initial cost of new light bulbs or a dorm renovation can be difficult to finance and in some cases, impossible without loans or grants. Below are some funding ideas.

When it comes to investing, remember that a college is an educational institution; energy efficiency projects save money, but they also contribute to the growth of your colleges’ primary investment - educational capital.

Carbon Reduction Fund

Invest in an efficiency project and send the savings back to physical plant to be used for a renewable energy project like a wind turbine.

Revolving Loan

Use the money earned from an efficiency project, from a campus greening fund, or from a grant, to start up a revolving loan fund. The savings go directly back to the fund, to be used to finance all or part of the next efficiency project. The savings earned from this second project go back to pot once again, to finance the next efficiency project.

Student Campus Greening Fund

Green Mountain College levied a $15 student fee on each student on campus to put towards the Campus Greening Fund. A committee decides how this money can be spent the most effectively. (Liz Cunningham; LCunningham@VEIC.org)

Target Alumni in a Carbon-Friendly Way

Ask alumni to donate to your carbon-reduction project. Alumni can help to green their Alma Matter, and provide your institution with permanent savings. Send them an attractive certificate as thanks.

Seed Money

-Campus Ecology Grant (www.NWF.org/campusecology)
-New England Grassroots Environmental Fund

Bigger Grants

-The Department of Public Service coordinates grants from the DOE
-Chittenden Bank offers low-interest loans to support community development in areas of conservation and agriculture, affordable housing, business and economic development, community building, and education. (www.chittenden.com/socially-responsible.html; 800-545-2236 ext. 4069; srb@chittenden.com)
-RERC pays up to 40% of the cost of small-scale solar or wind projects (www.rerc-vt.org)
-See http://grants.gov or http://doe-iips.pr.doe.gov à browse opportunities à financial assistance