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Loan Funds Boost Carbon Cuts on Campus
At least two universities—Colorado and Harvard—use loan funds as an incentive for conservation and efficiency.
At Colorado University, $100,000 plus 35% of projected project savings each year help fund capitol improvements such as solar film on the University Memorial Center, upgrading to a more efficient heat exchanger for a pool, and retrofitting lighting.
At Harvard University, a similar concept has been in place since the early 1990s. In its first five years, Harvard issued $2.6 million in no-interest loans generating an estimated $4.5 million in savings and an 8.8 million annual reduction of CO2. More recent projects supported by the loan fund, including a new cogeneration plant, vending efficiency devices and an efficient computing program collectively reduce CO2 by almost 8 million pounds annually. In January 2002, Harvard made over $3,000,000 in revolving loan funds available under the management of the Harvard Green Campus Initiative (HGCI).