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Good options are available for financing energy-related projects.

Michigan Saves

 
Michigan Saves is a non-profit that makes financing available specifically for building energy improvements.  Since 2009, this “green bank” has helped home owners and businesses alike save energy, save money and increase their property values with energy efficient upgrades.  

How it works

  • Business loans are available from $2,000 to $250,000
  • Terms are 5-7 years
  • Rates can be as low as 0%, depending on your utility and credit-worthiness

To secure a loan through Michigan Saves, you must use a Michigan Saves-approved contractor.

Visit Michigan Saves online to get started!

Property-Assessed Clean Energy (PACE)

 

PACE finances energy efficiency, renewable energy and water saving measures in select counties and municipalities in Michigan. Property owners will generate more money in energy savings than they will pay on their assessments over the life of the loan and typically pay no up-front costs.

How it works

  • Unlike with a traditional bank loan, the borrow repays the sum via a voluntary “special assessment” on his/her property taxes
  • Project approval contingent on positive savings-to-investment ratio guaranteed by the contractor
  • Suited only for projects valued at $250,000+
  • Loan terms of 10-20 years

For more information and to get started, go to Lean & Green Michigan.

Your Contractor

Use Michigan Saves’ contractor locator tool to find a licensed, approved contractor in your area. Your contractor can often help you secure financing for your project (through Michigan Saves or other lenders).