Beginning last month, NOLA Wise, a local energy efficiency program that assists homeowners make energy saving improvements to their homes, has begun a commercial loan program available to local businesses that want to make a valuable investment in our community. Fidelity Homestead Back of New Orleans will offer the commercial loan product, which is similar to the residential Fidelity loan program available through NOLA Wise.
NOLA Wise is a partnership between the City of New Orleans, the Department of Energy, Green Coast Enterprises, Global Green USA, and Fidelity Homestead Savings Bank. Global Green USA has managed the program since its inception in the fall of 2011 and has served over 76 Louisiana residents.
“The goal of the program is market transformation in the field of energy efficiency, to increase the supply and demand of high performing green building contractors, and to stimulate economic development,” says Camille Lopez, Program Manager for NOLA Wise.
Participants of the NOLA Wise program increase their energy efficiency through structural improvements to their home using better insulation and weatherization techniques. This can lead to a cost savings of up to 30%, not to mention a reduction in pollution and waste associated with energy production. Home modifications can also improve air quality, having a beneficial effect on people’s health.
NOLA Wise is a comprehensive program that guides participants each step of the way from an initial assessment, to troubleshooting financing, and finally, hiring contractors. NOLAWise also uses only certified inspectors and contractors to ensure the highest quality service and results.
The commercial program is making it possible for businesses across New Orleans to access the energy and cost savings benefits of NOLA Wise by removing the biggest barrier, the up-front costs. The program targets multi-family buildings and small businesses, particularly high-energy users such as restaurants and convenience stores, and aims to provide a minimum of 15% energy savings.
“The NOLA Wise program is a tremendous resource for individuals who want to make environmentally friendly decisions,” Mayor Mitch Landrieu was quoted as saying. “We’re excited to now make this valuable resource available to our local business owners so that they can make the wise investment in saving energy.”
To learn more about the program, visit the NOLA Wise website or meet the team at the following events:
- Marigny Association Meeting: Monday, 11/19 7:00-8:00pm, St. Paul Lutheran Church, 2624 Burgundy Street
- Neighborhood Summit: Saturday, 11/17 8:00am-5:00pm, UNO Lindy Boggs Conference Center at 2045 Lakeshore Drive
- Monthly Sustainability Series: Thursday, 11/29 6:30pm-8:00pm, 1000 St. Charles Ave.