Colgate’s Green Revolving Loan Fund supports campus upgrades that measurably reduce the university’s ecological impact and project a return on investment.
How it Works
Members of the campus community may propose a project to the Sustainability Council that will measurably reduce the university’s carbon footprint and general ecological impact. Proposals will be evaluated based on:
- Specific environmental benefits such as resource conservation or greenhouse gas reduction
- Ability to measure or estimate outcomes
- Ability to identify resultant savings and repay the fund, normally within four years, with a maximum payback period of ten years.
- Cost-effectiveness metrics such as greenhouse reduction per dollar of capital cost
- Potential for community education, engagement, and collaboration
Up to 10 percent of fund can be allocated to projects that don’t have a payback, such as the installation of resource metering.
If a proposal is approved, the revolving fund finances the cost of the upgrades as a loan. The savings from a project’s implementation repay the loan, plus 20 percent, thereby growing the overall pool of money to fund future projects.
The first loan from the fund financed the replacement of 88 light bulbs in Little Hall. That $1,300 project cut about 33,000 kilowatts of energy use each year, taking less than a year to repay, and saving the university nearly $20,000 during the expected lifespan of the new energy-efficient bulbs.
Submit a Proposal
For projects to be considered, a Green Revolving Loan Fund Application must be completed and sent to the director of sustainability for initial review. Additional details, and the form, can be found at: