WASHINGTON, DC - U.S. Senator Jack Reed (D-RI) today announced that the City of Providence will receive over $1.75 million in flexible federal funding to improve energy efficiency in residential and municipal buildings. This award is administered by the U.S. Department of Energy under its Energy Efficiency and Conservation Block Grant (EECBG) Program. The EECBG program is funded by the American Recovery and Reinvestment Act of 2009, which Senator Reed supported.

Providence is expected to use the funding to establish a revolving loan fund for residential and municipal building retrofits.

"I am pleased Providence is receiving these Recovery Act funds to make significant and strategic investments in energy efficiency efforts. Upgrading homes and buildings in Providence will help cut taxpayers' energy bills and make our communities more energy efficient," said Reed, a member of the Appropriations Subcommittee on Energy and Water Development. "This is a flexible source of funding that will put people to work, bolster the local economy, and help protect our environment."

Under the accountability provisions included in the Recovery Act, Providence will be required to report on the number of jobs created or retained, energy saved, renewable energy capacity installed, greenhouse gas emissions reduced, and funds leveraged. Funding is based on a formula that accounts for population and energy use.