Sustainability Revolving Loan Fund
The Sustainability Revolving Loan Fund at Boston University was created in 2008 through a university budget allocation to implement energy reduction strategies and technologies. The fund is administered by the Vice President of Operations (a Co-Chair of the campus Sustainability Steering Committee). This committee oversees four working groups that address energy conservation, sustainable buildings and operations, recycling and waste management, and communications and outreach. The fund invests an average of $70,782 per project, with an average return on investment of 57 percent (including utility incentives). Potential projects are submitted to the Vice President of Operations, for review and consideration. Approved projects are then submitted to BU’s Facilities Management and Planning department for implementation. Through December of 2010, the fund had invested $995,000 interest free in projects with estimated annual energy savings of 2,546,000 kWh. The fund will be replenished from financial savings attributable to the reduced energy demand.
The higher education participants in The Challenge are managed by Second Nature. To learn more about how Second Nature plans to expand use of GRFs in higher education, visit their page!