Bank of America Pledges $55 Million for Retrofits

Through the program, Bank of America will distribute $50 million in low-interest loans as well as $5 million in grants to help community lenders administer local low-interest loan programs—which will include tracking of actual energy and water use and utility costs, both before and after retrofits. Rick Fedrizzi, CEO of the U.S. Green Building Council, remarked in a press release that the program would be more effective due to “the fact that Bank of America is not only launching this program but also gathering data and reporting on the conclusions.”

Winning community lenders will be announced in November 2011.