UCLA Officials Announce $15 Million "Self-Replenishing Fund" For Energy Projects
Posted Oct. 28, 2014
Santa Monica Mirror
UCLA officials announced today the creation of a $15 million "self-replenishing fund'' to support energy efficiency projects, such as the installation of motion-sensor light switches to water-saving plumbing fixtures. The announcement makes UCLA the 46th institution in the nation to join the Billion Dollar Green Challenge, which was created by the Sustainable Endowments Institute to encourage universities to pursue energy-efficiency projects.UCLA officials said the university has already invested $20 million in such projects...The fund will be created with bond financing and not involve any student tuition or fee money.
UCLA's previous sustainability projects include the installation of occupancy sensors that turn off lights in empty rooms and hallways; retrofits of heating, ventilation and cooling systems; and replacements of old light bulbs with energy-efficient bulbs. The new fund will be self-replenishing, with savings realized by the energy-efficient upgrades injected back into the fund for future projects.
... Half of the savings... would go back into the revolving loan fund until that million is paid back. People realize these projects aren't just an expense, they're an investment. The university will be conducting an annual energy audit of campus buildings to identify future projects to fund.
Full story at http://www.smmirror.com/articles/News/UCLA-Officials-Announce-15-Million-Self-Replenishing-Fund-For-Energy-Projects/41544
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