A group of University of Michigan students are working on a project that may bring seed money and energy efficiency to Saginaw, among other cities.
The Erb Institute for Global Sustainable Enterprise is part of the University of Michigan, and its students are trying to create a new financial model for some of Michigan's poorest cities, based on clean energy.
Working with a $50,000 grant from the Ford Motor Company fund, they plan to create a revolving energy fund for each city, as part of a larger Clean Energy Coalition program. The funds will have $4.4 million in seed money available from the Michigan Public Services Commission, to fund energy-efficient upgrades in municipal buildings. The money cities save on utility bills will go back into the revolving funds, to be used on future energy efficiency projects.
Other cities in the U.S. use similar revolving funds, including Ann Arbor, Portland, Ore. and Phoenix.
"This project provides not just a quick fix, but a sustainable solution to energy infrastructure challenges in some of Michigan's most disadvantaged communities," says Rick Bunch, managing director of the Erb Institute.
The other cities that will benefit from the grant are MSHDA
"Cities of Promise" Pontiac, Flint, Detroit, Hamtramck, Benton Harbor, Muskegon Heights and Highland Park.
Writer: Sam Eggleston
Source: Rick Bunch, Erb Institute at the University of Michigan
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