Energy Efficiency Loans Make It Easier for Minnesota Businesses to Upgrade Equipment

Energy efficient equipment can be expensive, but new energy efficiency loans can help Minnesota businesses to pay for these important upgrades. The E3 Fund (Energy Efficiency & Electrification Fund) is used to facilitate the installation of high efficiency equipment. Up to $350,000 can be lent, or up to 80% of the total project cost. The loan is for 10 years, based on the life of the equipment. Interest rates can be as low as 0%.

Benefits of Using the Energy Efficiency & Electrification Fund for Energy Efficiency Loans

Minnesota businesses can save money by securing funding through the E3 Fund. The interest rate is below market and could be as low as zero percent (0% interest), making this a truly affordable energy efficiency loan.

What projects qualify for energy efficiency loans in Minnesota?

For the E3 Fund in particular, businesses can use the money to pay for beneficial electrification projects that result in net carbon reduction. It can be used to pay for engineering and design costs, equipment, and installation. Common uses of E3 loans include HVAC equipment, commercial kitchen appliances, manufacturing process automation equipment, robotic milkers or other agricultural applications, and more. 

You can learn more about energy efficiency loans for Minnesota businesses here.