US-based Metrus Energy has been selected as a financial services partner under the AlabamaSAVESTM program to provide energy efficiency services to Green Alabama's buildings.
Backed by the Department of Energy, AlabamaSAVESTM provides low-interest rate financing for energy saving upgrades at existing industrial and commercial buildings.
The company and the AlabamaSAVESTM program will jointly expand energy efficiency investments statewide.
Metrus secured two million dollars from the program’s Energy Revolving Loan Fund, originally established with American Recovery and Reinvestment Act State Energy Program funds.
The allocation will enable Metrus to provide more terms under its efficiency services agreement structure to local businesses and increase the scope of retrofits implemented at individual facilities, the company said.
Metrus funds all project development, construction and ongoing maintenance costs with customer payments based solely on actual energy savings.
Metrus enables private commercial, institutional and industrial facilities to redirect their current energy spending to pay for the efficiency upgrades, avoiding all upfront project costs.
Metrus Energy provides capital, project development and ongoing asset management services for energy efficiency projects at commercial, industrial and institutional facilities.