The University Record
Following its commitment last year to achieve universitywide carbon neutrality, the University of Michigan is unveiling an initial $5 million investment in energy conservation measures that will reduce greenhouse gas emissions.
The measures include substantial LED lighting projects, and heating, ventilation and air conditioning improvements that span U-M campuses and units.
Each project is funded by a central revolving energy fund created to support U-M’s carbon neutrality commitment. It provides loans to university units for investments in energy-conserving infrastructure improvements. Units will then return annual energy cost savings to the fund until project costs are repaid, allowing the fund to support new projects over time.
“Sustained innovation is crucial in the fight against climate change, and I applaud the university units who are taking action to conserve energy and reduce carbon emissions,” President Mark Schlissel said. “Our revolving energy fund will provide a sustainable financing system to encourage the greater participation we will need to fulfill U-M’s carbon neutrality goals.”