What is the City of Minneapolis Energy Efficiency Business Loan Program?
The City of Minneapolis, through the Business Finance Department of Community Planning and Economic Development (CPED), has established a low-interest loan program to assist Minneapolis-based businesses interested in reducing energy consumption. The City has partnered with the Center for Energy and Environment (CEE) to administer the program and provide financing for energy-efficiency projects in commercial properties. Funding includes a combination of a loan and forgivable rebate. The rebate will be calculated into the loan and paid out in monthly payment reductions.
Program Features:
- Rebate in the amount of 20% of project cost after utility rebates (not to exceed $5,000).
- Interest rate fixed for term of loan at 0%
- Maximum loan amount is $75,000
- Closing costs financed in loan
- Variable loan term up to 10 years
Eligible Improvements Include:
- Lighting retrofits (lamps and/or ballasts only)
- Lighting Fixture Replacement and Control Upgrades
- HVAC (Heating, Ventilating and Air Conditioning) Controls Upgrades and Retrocommissioning
- HVAC Equipment Replacement
- Envelope Air Sealing
- Insulation, Windows or Doors
- Refrigeration Controls Upgrades (where refrigeration is present)
- Refrigeration Equipment Replacement
- Other energy-efficiency improvements recommended by CEE and approved by CPED
