The University of New England Green Revolving Fund (GRF) is an investment fund that finances energy efficiency projects on campus to reduce energy consumption and, consequently, carbon emissions. Some of the captured utility savings are reinvested for use in future efficiency projects. The fund provides capital for special projects conducted by Facilities Management that reduce environmental impact and can repay the fund with cost-savings within five years.
The projects approved to be funded by the GRF must meet the following criteria:
- Produce financial savings that will pay for the initial cost of the projects within five years. Shorter payback periods are preferred.
- Quantifiably improve the environmental sustainability of UNE.
- Use loan funding cost effectively as measured by the environmental impact reduction per dollar.
- Provide educational benefit.
Recognizing that project ideas may come through multiple avenues and from varied campus constituents, this policy and procedure seeks to streamline a process whereby proposals are reviewed and approved for funding. All projects should seek to maximize the overall benefits of sustainability in a financially responsible manner.
- Applicants will submit project proposals to the Energy Sub-Committee for review. During this review, the Energy Sub-Committee will determine feasibility of and alignment with GRF project criteria (outlined above), university mission, facilities capabilities and campus planning. The Energy Sub-Committee will verify likely project payback, and then work with the Assistant to the Vice President for Operations to propose a GRF repayment structure that is beneficial to the GRF and university operating budgets. The Energy sub-committee will prioritize projects, if there are multiple projects slated for consideration. (Note - members of the Energy Sub-Committee include: Facilities Manager for Biddeford Campus, Facilities Manager for Portland Campus, HVAC Supervisor, Assistant VP for Campus Planning and Sustainability Coordinator)
- The Energy Sub-Committee will present a budget analysis to the Vice President for Operations for approval.
- The Carbon Monitoring Task Force (CMTF) will make the final decision on project proposals and loan awards. (Note – members of the CMTF include: Provost, Vice President for Operations, Facilities Director, Assistant Vice President for Campus Planning, Department of Environmental Studies faculty member, Environmental Council Co-Chair, Environmental Health and Safety Director, student representative, Fiscal Affairs Representative, Institutional Advancement representative and Sustainability Coordinator)
The Carbon Monitoring Task Force has identified three ways to grow the Green Revolving Fund. Some rebates and incentives will be reinvested in the Green Revolving Fund to the greatest extent possible. Some of the energy savings from projects where grant funds were utilized to leverage matching dollars from the Green Revolving Fund to realize efficiencies will be invested in the GRF. However, the single greatest story to tell about growing this financial tool is about the donations received from the UNE Community.
The Green Revolving Fund within UNE's comprehensive "Moving Forward" capital campaign is unique in that it is a philanthropic opportunity that keeps on giving. It's UNE's own environmental endowment!
We would be honored if you would consider making a gift to support UNE's Green Revolving Fund. As an advocate for sustainability and champion of green building, your contribution will make a difference for our students, for our community, and for our environment.
To make a gift, please follow the link - Make a Gift to the University of New England.
In order to direct your gift to UNE's Green Revolving Fund, click on the circle next to “Gift Designations” under the "Choose the area you wish to support" heading. A new window will appear. Scroll to the selection titled “Campus Sustainability,” and select "Green Revolving Fund.”