Municipal Energy reduction funds awarded: City of Dover to grant energy efficiency loans

The New Hampshire Community Development Finance Authority (CDFA) recently awarded a $250,000 loan from the newly created Municipal Energy Reduction Fund to the City of Dover for energy efficiency upgrades.

CDFA was awarded $1.5 million in funding from the Greenhouse Gas Emissions Reduction Fund, through the New Hampshire Public Utilities Commission, to capitalize a revolving loan fund, the Municipal Energy Reduction Fund. Loans will finance energy improvements to municipal facilities and activities.

The City of Dover will use the loan as part of an energy efficiency financing package for energy improvements on 10 municipal buildings. The Municipal Energy Reduction Fund portion will be utilized for cooling system upgrades of the City’s Ice Arena by replacing the chiller with a new high-efficiency unit.

The Ice Arena project will also include more efficient lighting and controls, improved building envelope, energy efficient transformers and power factor corrections and water conservation measures. Energy savings from these improvements is estimated to be over $125,000 per year. In addition, there will be an estimated annual reduction of 576 tons of carbon emissions because the facility will utilize less energy.

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CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire. CDFA administers $33 million in funding resources, which includes a combination of state tax credits, federal Community Development Block Grant, Neighborhood Stabilization funding and Energy Reduction grants and loans. CDFA supports affordable housing and economic development activities that benefit low- and moderate-income citizens. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.

For more information contact: Glenn Coppelman, 603.717.9117, gcoppelman@NHCDFA.org