Maryland creates $0-interest fund for small business energy upgrades

Maryland officials launched a new financial partnership on October 30 to help local businesses lower their energy costs.

The Maryland Department of the Environment and the Maryland Clean Energy Center formalized the agreement in Annapolis. It creates a dedicated fund for small and medium-sized enterprises.

The program provides low-interest capital for specific infrastructure projects. Companies can use the funds to modernize electrical systems and adopt cleaner technologies. The goal is to reduce monthly utility bills for commercial facilities.

State Commerce Department officials stated the measure improves the competitiveness of the state's manufacturing sector. They noted that energy input costs have risen recently. The initiative also supports Maryland’s existing goals for green investment and carbon reduction.

Business owners can access the program through the Maryland Business Express resource. The Maryland Clean Energy Center and the Department of the Environment manage the funding pool. The Maryland Secretary of Commerce office provides additional details on eligibility.

The partnership was announced as part of broader strategies to ease the financial burden on the private sector. It targets efficiency improvements in commercial buildings across the region.