INDIANAPOLIS— The Indiana Energy Independence Fund, the state’s new nonprofit green bank, today announced the launch of its commercial lending product to help Hoosier small businesses, nonprofits, and government customers, especially those underserved by current financing options, to lower their energy costs by embracing clean energy and energy efficiency.
“We are pleased to launch Indiana’s new green bank, and we are excited to introduce this new financing option to enable organizations across the Hoosier state to adopt energy efficiency and renewable energy measures and help them save money and make our state a healthier, more efficient place to live and work,” said Alex Crowley, the fund’s executive director.
Green banks are mission-driven institutions that use innovative, low-cost financing to accelerate the transition to clean energy, especially for underserved populations. The Indiana Energy Independence Fund has three goals:
- Accelerating adoption of energy efficiency and cleaner energy technologies by focusing on providing capital to individuals and organizations historically excluded from such opportunities
- Identifying and addressing gaps in the marketplace to support the transition to a more economically and environmentally sustainable future for people who disproportionately bear the burden of higher energy costs
- Leveraging local, state, federal, and philanthropic funding to support investments in workforce development to stimulate the growth of green jobs in Indiana
The new commercial loan product now available throughout Indiana is made possible through a partnership with the National Energy Improvement Fund (NEIF). NEIF specializes in financing energy efficiency, renewable energy, and resilience projects for commercial, nonprofit, and municipal properties.
“NEIF is proud and excited to launch this commercial financing offer with the Indiana Energy Independence Fund. As a Certified B Corporation, NEIF focuses its financing on investments in efficiency and electrification measures that reduce carbon emissions, and this new partnership with IEIF fits squarely with our mission and offerings,” said Matthew H. Brown, NEIF Co-Chair and Managing Member.
Types of projects that could be financed in Indiana
- LED lighting and electrical
- High-efficiency HVAC
- Refrigeration
- Controls
- Renewable energy, including solar and geothermal
- Water-saving measures
- Building envelope
- Retro-commissioning
