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TCPL Seeks Smart Grid Expansion Loan Funding (Ind. Report)
Traverse City Light & Power
Date: 2021-01-04
In Michigan, the Traverse City Light & Power (TCLP) utility is reporting plans to seek an $18 million loan from the United States Department of Agriculture (USDA) to build out the rest of its fiber optic network and upgrade a city "smart grid" for better power outage management and energy efficiency.

The USDA offers multiple financing programs to assist communities with sustainability and growth efforts, including utilities expansion. TCLP has already successfully worked with USDA in recent months, becoming the first municipal utility in the country to receive a USDA loan to promote energy efficiency and renewable energy. If approved, the USDA loan will enable TCLP to drawn down funds as the project proceeds rather than assume the entire debt upfront. (Source: TCLP, PR, Website, The Ticker, 4 Jan., 2020) Contact: Traverse City Light & Power, Tim Arends, 231-922-4940, www.tclp.org

More Low-Carbon Energy News Traverse City Light & Power,  Smart Grid,  Energy Efficiency,  


TCL&P Seeking $1.8Mn for Energy Efficiency Grants (Ind. Report)
Traverse City Light & Power
Date: 2019-12-02
In Michigan, Traverse City Light & Power (TCL&P) reports its Board of Directors has approved a resolution seeking a $1.8 million grant from the U.S. Department of Rural Development's Rural Energy Savings Program.

If granted, the funds would support TCL&P's on-bill financing program allowing customers to borrow up to $30,000 at no interest for 10 years for renewable energy and energy efficiency installations and upgrades. The repayment, plus a $5 administration fee, would be secured through a lien on the property and added to the customer's monthly power billing.

Qualifying borrowers could use the money for everything from insulation upgrades to new windows to renewable energy projects like rooftop solar, as previously reported.

TCL&P executive director Tim Arends previously touted the idea as a way to help curb the utility's peak energy demand. The USDA gave tentative approval to the utility's application, as previously reported. (Source: Traverse City Light & Power, Traverse City Record Eagle, 1 Dec., 2019)Contact: Traverse City Light & Power, Tim Arends, 231-922-4940, www.tclp.org

More Low-Carbon Energy News Energy Efficiency,  Energy Efficiency Funding,  

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