Senate approves Birkholz legislation to help finance energy projects in Michigan
Thursday, October 15, 2009
LANSING—The state Senate today approved legislation that will create a fund to provide loans for private and public sector renewable energy and energy efficiency projects in Michigan, said Sen. Patty Birkholz, sponsor of the measure.
“Last year, the Legislature approved a 10 percent Renewable Portfolio Standard for energy companies and municipal utilities in Michigan, which requires them to make investments and improvements to their operations,” said Birkholz, R-Saugatuck Township. “Having a fund devoted to clean energy manufacturing, energy efficiency or renewable energy projects will prove beneficial to businesses and residents across the state. It will provide a great deal of flexibility with loans available to both public and private arenas.”
Senate Bill 852 would establish a revolving fund in the Department of Treasury for energy loans to be financed with $10 million from the American Recovery and Reinvestment Act. Michigan received $82 million from the federal government for energy projects.
The bill will now advance to the state House for consideration.
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