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'Green Bank' to finance energy-efficient improvements More than $18.75 million in funding available through the federal stimulus program will be allocated to the Green Bank revolving loan fund. From Gov. Beshear's Communications Office LEXINGTON, Ky. - Gov. Steve Beshear has announced the establishment of a multi-million dollar financing program to make public buildings more energy efficient, a move that will reduce costs and potentially create "green collar" jobs. The "Green Bank of Kentucky" program will allow state government energy-efficiency projects to compete for low-interest loans that can be paid back through the energy savings generated. Gov. Beshear made the announcement at the site of one of the first projects expected to submit a loan application to the Green Bank: Kentucky Educational Television's (KET) network center in Lexington. "It is a rare opportunity for us to launch a program with such a potentially dramatic effect on creating jobs and protecting the environment," Gov. Beshear said. "It is fitting that we launch the Green Bank at the site of one of the state's true gems, KET, because it demonstrates that when we save on energy costs, those dollars can be shifted to fund our state's critical needs, such as education." KET plans to apply for $1.25 million to fund improvements including new energy-efficient lighting and appliances; smart energy temperature controls; water conservation; weather stripping; and a chemical-free water treatment system. The improvements are expected to save the nationally respected public broadcasting agency more than $100,000 a year in utility costs. More than $18.75 million in funding available through the federal stimulus program will be allocated to the Green Bank revolving loan fund. Funds will also be available for the purchase of hardware and software for state building management systems to triple Energy Savings Performance Contract activity for state buildings. The Green Bank emerged from the Governor's comprehensive energy plan, "Intelligent Energy Choices for Kentucky's Future," which establishes the goal of reducing projected statewide energy demand by 25 percent by 2025 through multiple strategies, including energy-efficiency measures. Gov. Beshear earlier this year launched a comprehensive effort to reduce energy use in state government facilities through setbacks of building systems on nights and weekends and by instituting high-performance building standards for new construction and renovation of public facilities. Gov. Beshear also plans to work with House Majority Leader Rocky Adkins during the 2010 regular session of the General Assembly to potentially access other federal stimulus dollars available through tax credit and bond programs.These additional dollars could allow the Green Bank to extend low-interest loans to local government entities, higher education facilities and K-12 school systems. Rep. Adkins was the author of House Bill 2, which established many of the efficiency requirements. "Today's announcement is exciting because the Green Bank of Kentucky will create jobs while promoting efficient energy usage, which were the goals behind House Bill 2," Rep. Adkins said. "For four years, the Kentucky General Assembly has passed comprehensive energy legislation that is being modeled around the United States and I am proud that KET - one of our most important media resources - will benefit from our groundbreaking legislative efforts."Under the bank's rules, an advisory committee will review applications to assure the viability, effectiveness and investment return of each project. It is anticipated that the program could process applications and issue loans using the first allocation of ARRA funds within six months of their award this fall.In addition, a public/private partnership has been formed to design and implement a program to educate, train and certify workers and create a new "green collar job bank." "Under Governor Beshear's leadership, Kentucky is taking the national lead on coming up with innovative programs that will help spur the creation of thousands of new 'green collar' jobs; jobs that pay well and that cannot be outsourced to China and Japan," said Finance and Administration Secretary Jonathan Miller, who will chair the Green Bank's Executive Advisory Committee. "Television production and broadcast are particularly energy intensive businesses," said Malcolm Wall, KET's executive director. "Thanks to Gov. Beshear's leadership, the Green Bank of Kentucky will provide contemporary solutions to make our plant even more energy-efficient. In taking this step, we'll be able to better focus KET's resources to expand the trusted instructional services we provide to every Kentucky classroom." This story was posted on 2009-09-03 06:20:49
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City of Columbia Tax Hearing 1:00pmCT, today Single vehicle crash at Windsor results in injury KY school districts to get aid to buy hybrid electric school buses LWC breaks ground on 186-bed residence hall Crab Orchard, not Stanford, KY home of Whitley house 19 Yard Sales listed, already, in Chamber Countywide Event John Adair treats homerooms with most new PTA memberships KSP to Participate in National Corvette Museum 15th Anniversary Citizens Police Academy starts October 1, 2009 Urges everyone to order Address Markers from FFA View even more articles in topic News |
 
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