Lease financing administered by the Department of Treasury provides funding for energy efficiency projects in state facilities operated by state agencies, authorities and institutions of the Commonwealth of Virginia. The Energy Leasing Program allows for the purchase of services and equipment required to develop, design, and install an energy efficiency project. Agencies can finance energy projects at a minimum of $100,000 and will make repayments over 12 or 15 year terms.
The funds can be used to finance projects with relevant energy efficient technology, such as lighting and motor efficiency upgrades, building envelope enhancements, distribution system improvements, and energy management controls. It is the responsibility of the individual agency to ensure that energy projects are in accordance with [http://lis.virginia.gov/cgi-bin/legp604.exe?111+bud+24-4.01+pdf §4-4.01(u)] of the General Provisions of the Appropriations Act.
Visit the [http://www.trs.virginia.gov/documents/debt/MELP/EnergyDescription.pdf Commonwealth's Energy Leasing Program] online for more information.