Funding Priorities for Green EDGE Fund
When we are allocating the Efficiency Loans, which use money allocated by the college, we will prioritize projects that achieve the following:
When we are allocating the Sustainability Grants, which use money raised from the student body, we will prioritize projects that achieve the following:
Please note: Due to our charter and the purpose and priorities of this fund, we do not fund speakers, lectures, travel expenses, registration for conferences, or other, similar expenses. These expenses are not concrete equipment purchases.
Explanation of the Efficiency Loans and Sustainability Grants
The Efficiency Loans are given for projects that have clear and timely financial paybacks into the fund. The efficiency loans are not like a standard bank loan, where the borrower pays back with interest; our “loans” are rather paid back by the energy savings due to the funded projects. For example, the EDGE Fund will give the Facilities department $5,000 to install a new boiler, and the $1,000 of yearly savings from the energy efficiency will pay back into the EDGE Fund.
The Sustainability Grants do not have any payback requirements. We expect them to be used without recovering any of our investment.
We have these two types of projects because we have two sources of funding. Part of our funding comes from the college administration, which has asked us to only invest in projects with clear financial paybacks (the efficiency loans). The other part of our funding comes from activity fees paid by the student body, which supported using the funding for sustainability projects in general (the sustainability grants). If a proposal could receive either source of funding, we will give it higher priority as an efficiency loan than as a sustainability grant. We prefer projects with a revenue stream that enable us to fund more proposals in the future.