The Green Revolving Fund (GRF) of the Diocese of Newark is available to member congregations to finance energy efficiency and retrofit projects, creating energy and cost savings while reducing greenhouse gas emissions.
A congregation’s heating and cooling system is one of its largest capital investments, responsible for large ongoing operating costs and impacting air pollution and greenhouse gas emissions. Many congregations replace these systems under emergency circumstances, often resulting in inefficient equipment that saddles the congregation with excessive energy costs.
The GRF empowers congregations to take a proactive approach to this critically important project. Modeled after similar initiatives that have been successfully implemented at over 100 higher education facilities across the country, under the GRF:
- Each congregation will receive a free energy audit to identify and prioritize energy efficiency projects. Funding can be used to implement quick-payback projects, including efficient lighting and heating/cooling systems.
- The loan amount per congregation will be capped at $10,000.
- Congregations will pay back their GRF loans over a period of 3-5 years, using the energy savings to make the payments.