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A new initiative dubbed the Cannabis Resource Optimization Program (CROP) hopes to boost energy efficiency in Colorado.
Among CROP’s offerings include free “technical assistance and access to financing for cannabis cultivators,” according to Marijuana Moment.
Governor Jared Polis praised the program, calling Colorado “the first state to help licensed cultivation operators make their operation more energy efficient.”
The goal is to “save business owners money and reduce energy use in the industry,” he said.
Cannabis Resource Optimization Program
The program “is designed to provide eligible cannabis cultivation businesses with no-cost technical assistance, including a facility audit and analysis of previous resource use, to better understand energy and water use and identify cost-effective resource management opportunities,” according to a Colorado Energy Office (CEO) news release.
Then, “cannabis cultivation business owners will work with the Colorado Clean Energy Fund to secure low-interest financing to implement these improvements,” reported MJBiz Daily.
“Cannabis is a legitimate business in Colorado and 20 other states across the country, yet cannabis businesses are completely shut-out of the financing opportunities that are available in other industries,” said CEO of Sustainable Cannabis Program Manager Elizabeth Lee. “The state recognizes that cannabis cultivation uses a substantial amount of energy and created the CROP program to provide unprecedented access to low-interest loans for improvements that ease this financial burden on Colorado businesses.”
Applications will open on Feb. 15 for “cultivators who are seeking technical assistance and do not already have access to assistance through their utility providers,” per the release.
A webinar with more details about the program is also scheduled for Feb. 15.
Resource Innovations will provide technical assistance, including cannabis-facility audits, “to identify impactful efficiency improvements, such as installing LED fixtures or upgrading HVAC systems.”
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Image Credits: Dmytro Tyshchenko and Kevin Ruck by Shutterstock Edited By Benzinga
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