Glynn County awarded $7.2 million in funding for energy-efficiency initiatives
ATLANTA – The Georgia Environmental Finance Authority (GEFA) provided Glynn County $7,170,000 in funding for energy-efficiency improvements in several of the county’s buildings through Georgia’s Qualified Energy Conservation Bond (QECB) allotment to local governments.
Twenty-eight Glynn County facilities will receive energy improvements including replacing boiler, chiller and air conditioning units, as well as lighting and control upgrades. Water conservation improvements will include toilet and waterless urinal installations, and showerhead and aerator replacements.
Glynn County partnered with Ameresco Inc. to implement the energy and water conservation measures, which were identified during a detailed energy audit. An energy audit is a comprehensive analysis that determines the practicality of implementing energy and water conservation measures at a facility.
“Glynn County took advantage of an opportunity presented through this financing alternative that will help with lowering utility bills and repairing or replacing outdated equipment and systems. Energy-efficiency and water conservation measures can provide immediate and future energy and water savings.” – GEFA Executive Director Kevin Clark.
“I’d like to express appreciation to state Rep. Alex Atwood who brought the county’s need for funding to GEFA’s attention. This initiative will help Glynn County promote the state’s culture of conservation.” – GEFA Executive Director Kevin Clark.
“Glynn County is excited about the opportunity to reduce our energy cost through the QECB program, in which the federal government will subsidize the interest on the debt service. Ameresco has done an excellent job in identifying areas of improvement and guaranteed that cash in-flows from the project will exceed the cash requirement for the project. Both of these advantages make it a win-win for the tax payers of Glynn County. In addition, I would like to express our appreciation to Rep. Atwood and his work with GEFA to make this funding opportunity possible for Glynn County.” – Dale Provenzano, chairman, Glynn County board of commissioners.
A QECB bond enables qualified state, tribal, and local government entities to borrow money to fund energy conservation projects. The U.S. Department of the Treasury subsidizes the issuer's borrowing costs, making QECBs among the lowest-cost public financing tools.
QECB proceeds can be used to fund various projects and include:
- Reducing energy consumption in publically-owned buildings.
- Implementing green community initiatives.
- Establishing loan and grant programs for residential energy-efficiency improvements.
- Developing renewable energy resources in rural areas.
- Supporting energy-related research facilities, research grants and research.
- Building facilities that reduce energy consumption and pollution.
- Designing projects that promote the commercialization of energy-related technologies and processes.
- Launching public education campaigns to promote energy efficiency.
GEFA offered $13,581,000 of the state’s QECB allotment to local governments in November 2014. The Georgia State Financing and Investment Commission (GSFIC) finalized the reallocation to Glynn County at its February 25, 2015, board meeting.