Coventry Receives $400k Loan For Energy-Efficient Streetlights

Coventry RI

17 June, 2021

4:28 PM

Description

COVENTRY, RI — New, energy-efficient streetlights are coming to Coventry. The Coventry Fire district received a $400,000 loan from the Rhode Island Infrastructure Bank to complete the project. "This loan from the Infrastructure Bank will allow us to install over 900 new energy efficient streetlights across our service area," said Coventry Fire District Board Chairman Bryan Testen. "These LED streetlights will use at least 75 percent less energy and last three times longer than our existing streetlights. The taxpayers will benefit from better street lighting which increases public safety, and the annual cost savings will result in a tax decrease — that's a great combination. It's a smart, energy conscious investment in our district's road infrastructure, and we thank the Infrastructure Bank for their help in financing this project." The loan was provided by the organization's Efficient Buildings Fund, which allows cities and towns to make upgrades to save energy in buildings and streetlights. "We are pleased to provide a below market loan to the Coventry Fire District to finance their streetlight upgrade project which will deliver improved lighting and long-term savings for the residents of the district," said Jeffrey Diehl, the CEO of the Infrastructure Bank.