DEQ Launches Low-Interest Loan Program to Reduce Energy Costs for Multifamily Housing

The Montana Department of Environmental Quality (DEQ) is launching the Multifamily Energy Retrofit Loan (MERL) program to provide low-interest loans to existing multifamily affordable housing facilities for energy efficiency improvements. The MERL program aims to lower energy costs of multifamily housing facilities and improve comfort and energy performance of the buildings.

 

The new program has no application fee and can provide loans from $100,000 to $1,000,000 at 2% interest to owners of multifamily housing facilities. Projects eligible for funding under the MERL program include air sealing, insulation, windows, and efficient heating and cooling systems. Interested applicants can fill out an interest form on DEQ’s website.

 

“The MERL program was designed to reduce energy costs in multifamily buildings, helping address one of the challenges to affordable housing,” explains Meranda Bass, Energy Resource Professional at DEQ. “We’re really excited about this new program as an opportunity to address energy costs with the added bonus of increased energy performance and resident comfort.”

 

The MERL program is funded by a $5.1M grant DEQ received from the U.S. Department of Energy, authorized through the Infrastructure Investment and Jobs Act.

 

For additional information regarding eligible applicants, project requirements, and links to the MERL interest form, please visit the MERL Program on DEQ’s website.