The Recovery Act invested millions in new projects that are improving our infrastructue, repairing homes, and much more. But it also provided millions in direct benefits for families, students, businesses, investors, and more including more than $288 million in various forms of tax relief. Guidance on how to access each of those benefits is below.
The Recovery Act was designed to put unprecedented amounts of funds towards to fostering energy innovation and creating a wave of new jobs. It isnot hard to understand in theory, but picturing the process in action is a little bit tougher. To make it easier, here is a real-world example of how one project came together:
1. More than $3 billion in Recovery Act funds were allocated to the State Energy Program in each state. In Texas, that means that the State Energy Conservation Office (SECO) got just over $218 million, which they decided to put into a revolving loan program that will supplement the existing LoanStar program.
2. The City of San Antonio decided to apply for a loan to perform building modifications and install energy-saving equipment that it would otherwise not be able to afford. The plan was approved by the City Council when it was brought to them by budget staff in early September of 2009.
3. In the plan, the City would contract with Johnson Controls, Inc., a company with three offices in San Antonio, to have comprehensive energy audits
performed at facilities operated by the Fire, Police, Library, Community Initiatives, Parks and Recreation and Health Departments. This process would cost the city $145,000.
4. Next, the City would apply for a loan out of the new SECO funds. The loan would allow the city to address the inefficiencies identified by the recently completed energy audits.
5. The City is eligible for up to $10 million in loans at an interest rate of just two percent. The savings that would result from the efficiency measures would cover the $145,000 cost of the original energy audits and would continue to produce savings in the City's energy budget, making their facilities cleaner and cheaper to run.
6. If their application is successful he City will report on how their new projects effect the level of greenhouse gas emissions put out by the City and how many jobs are created or retained. The projects would create jobs for local residents to conduct the energy audits, complete building retrofits, and install new equipment and appliances. Those workers could even come out of new green jobs training program funded by the Recovery Act and run by the Texas Workforce Commission in conjunction with SECO and institutions of higher education located around the state.
