Chevrolet Clean Energy Initiative Funds First Project
A Maine housing weatherization program will receive funding for energy-efficiency upgrades, the first investment from a $40 million multi-year commitment by Chevrolet to prevent eight million metric tons of carbon dioxide from entering the air.
Chevrolet has signed a letter of intent to partner with Maine State Housing Authority to support a program that will weatherize 5,500 low-income homes to help address the changing climate through community-focused energy projects. Over the term of the partnership, MaineHousing and Chevy will help increase energy efficiency through a verifiable carbon reduction program.
Chevy is soliciting investment proposals nationwide through its independent third-party investor, Bonneville Environmental Foundation.
"We've moved rapidly to get the carbon reduction investment process underway and we've selected an important energy efficiency project we can help make a reality," said Rick Scheidt, executive director of Chevrolet marketing. "Chevy is committed to reducing its environmental impact, and what better way to do that than to connect with customers and communities on carbon-reducing projects that directly benefit them? We are reviewing other programs like this that could positively influence change in cities across the nation."
Through MaineHousing's Weatherization Program, energy professionals will improve home insulation by blowing recycled-content insulation into walls and ceilings, replacing loose attic hatches with tight-fitting ones, sealing chimneys, insulating exposed foundation, and tuning heating systems for efficiency. The initiative will help reduce home energy use, improve air quality and cut residents' heating and cooling bills. An anticipated 40,000 tons of carbon dioxide will be avoided as a result.
MaineHousing's Weatherization Program receives funding from the U.S. Department of Energy and the American Reinvestment and Recovery Act. Through buying the associated carbon savings from MaineHousing, Chevy is providing additional money that will be used to weatherize more low-income homes.
"It's encouraging to see that the first investment is in community-based energy efficiency programs that benefit everyday people and the environment," said Bob Sheppard, vice president of corporate programs at Clean Air-Cool Planet. "Chevrolet has moved quickly to establish sound criteria for investment projects that will lead us toward a clean, secure energy future."
Chevrolet is engaged with environmental experts, non-government organizations and academics through the Climate Neutral Business Network to guide and inform its investment parameters. Chevrolet will invest through third-party organizations such as the nonprofit Bonneville Environmental Foundation. Projects selected over the next three to five years will promote energy savings, renewable energy, responsible use of natural resources and conservation in communities across America.
Chevrolet estimates its carbon reduction goal is equivalent to the emissions in 2011 from driving the 1.9 million vehicles it is expected to sell in the United States over the next year. For more information, visit www.chevycarbonreduction.com or GM's BeyondNow blog.
