A new Michigan law allows local governments to fund energy conservation projects with Tax-Exempt Lease Purchase (TELP) plans.
TELPs are not considered debt for local governments, making energy performance contracts that are paid back through annual energy and operational savings more attractive.
“TELP funding will unlock significant energy efficiency and job growth potential, contributing to Michigan’s fiscal and environmental sustainability,” said Daniel Mack, senior account executive, Johnson Controls, who has developed self-funded energy performance contracts for more than 17 years. “TELP funding has been used all across the nation and will be an important funding option in helping Michigan municipalities save energy and upgrade critical infrastructure without upfront capital.”
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