Explore what we accomplished together in 2025

By the numbers

Have you ever wondered how much energy and money Michigan Saves’ programs are actually saving? The 2025 numbers are in, and the results are impressive!

TOTAL PROJECTS

January 2025 - December 2025

Residential Homes

8,406

Projects
10,475,943
Therms
96,249
Metric tons of carbon dioxide equivalent

Commercial Buildings

58

Projects
376,811
Therms
115,620
Metric tons of carbon dioxide equivalent

CUMULATIVE ENERGY SAVINGS

220,570,517
Kilowatt hours
10,852,755
Therms
211,869
Metric tons of carbon dioxide equivalent

TOTAL INVESTMENT

116,142,054

Residential: 96% Commercial: 4%

TOTAL FINANCED

111,107,888

Residential: 96% Commercial: 4%

AVERAGE UTILITY BILL SAVINGS PER PROJECT

$360
Residential

$12,343
Commercial

Timeline & milestones

2025

15 Years of Impact: $787 Million Invested in Michigan’s Future

In 2025, Michigan Saves marked 15 years as the nation’s first nonprofit green bank. A milestone defined by measurable impact and lasting commitment to Michigan communities. Since 2009, we have deployed $787 million in financing to support clean energy, energy efficiency, and critical health and safety improvements statewide. Amid federal policy uncertainty and market disruption, Michigan Saves remained resilient and nimble—steadfast in our mission to ensure all Michiganders can access safe, healthy, and energy efficient spaces.

Milestones

  • Increased support for low- to moderate-income households, with 63% of loans reported from 2022–2025 serving households earning below 120% of Michigan’s Area Median Income—up from 59% in prior reporting periods
  • Expanded and refined our elective pay bridge loan strategy, helping nonprofits access federal tax credits, educating contractors and partners on evolving guidance, and serving as the designated Elective Pay Ambassador for the greater Lansing region
  • More than doubled completed projects through the Lead Poisoning Prevention Fund, accelerating access to healthier homes and positioning the program for continued expansion
  • Launched direct lending capabilities and, in collaboration with third-party experts, approved $51 million in Climate Fund loans to support energy-efficient affordable housing and distributed battery storage—while navigating the Greenhouse Gas Reduction Fund grant freeze and a turbulent federal policy landscape

2024

50,000 Strong: Making Clean Energy Work for Michigan Families

In 2024, Michigan Saves reached an exciting milestone—serving more than 50,000 residential customers across the state with trusted, affordable financing solutions that lower utility bills and help make homes more energy efficient and comfortable. This achievement is a testament to our mission: to ensure every Michigander, no matter their income or zip code, can access the benefits of clean energy.

Milestones

  • Partnered with Oakland County to launch Oakland SAVES, a $5 million grant program helping homeowners reduce energy costs. The response was overwhelming—over 1,050 households were approved in less than a week, fully committing all grant funds.
  • Grew our residential lending network by partnering with TBA Credit Union to expand financial solutions for Michigan homeowners
  • Launched direct lending through the bridge financing program, helping nonprofits, tribes, governmental entities, and schools leverage federal tax credits for solar through the Inflation Reduction Act’s direct pay provision
  • Enhanced affordability of lead abatement for Michigan homeowners through the launch of a 50/50 cost-sharing incentive through the Lead Poisoning Prevention Fund, in partnership with the Michigan Department of Health and Human Services
  • Offered financing for the replacement of failing or near-failing septic systems through the launch of the Septic Replacement Loan Program, in partnership with the Michigan Department of Environment, Great Lakes, and Energy
  • Awarded a game-changing $97 million investment as a subawardee of the Coalition for Green Capital through the Environmental Protection Agency’s Greenhouse Gas Reduction Fund—our most significant investment to date. This historic infusion marks a turning point—enabling Michigan Saves to launch new, clean energy financing programs, expand access to underserved communities, and reimagine what is possible for clean energy in Michigan.

2023

Michigan Saves Surpasses $500 Million in Clean Energy Financing

We reached a major milestone: $500 million in climate and energy investments through Michigan Saves for Michigan homeowners and business owners! The team, along with stakeholders and partners, celebrated on July 13 with a party focused on the impact of our investments that have positioned Michigan as a leader on the path to a carbon-free future, one where everyone has access to the benefits of clean energy and climate-resilient solutions.

In addition to hitting the $500 million milestone, we had our best year yet! Michigan Saves financed a little over $119 million across the state, up $15 million from 2022.

We helped 232 households make clean energy improvements through the Detroit Loan Fund, a program that helped ensure equity in borrowing by eliminating credit scores as loan criteria, with alternative underwriting that focused on homeowners’ ability to pay.

The City of Sterling Heights partnered with Michigan Saves to design and implement a turnkey program that would invest $1 million of American Rescue Plan Act (ARPA) funds in the homes of lower-income residents through energy efficiency improvements. This program became known as the Go Green Grants Program, which was a subset of the City’s Think Sterling Green initiatives. Michigan Saves designed a program with two tiers of ARPA-funded incentives—one for income-qualified homeowners and one for all other homeowners—so all Sterling Heights residents could benefit from the project. In total, 152 households took advantage of the program.

In December 2023, Michigan Saves was named a subgrantee on two Environmental Protection Agency’s Greenhouse Gas Reduction Fund applications with the Justice Climate Fund and the Coalition for Green Capital. This transformational funding will enable our team to expand existing programs, create new programs, continue to help disadvantaged communities access sustainable upgrades, and more.

2022

On the road to $500M

It took Michigan Saves five years – from its 2009 inception to 2014 – to reach $100 million in energy efficiency and renewable energy financing. In 2022 alone, we financed $105 million in projects! What a huge accomplishment for not just our team, but for Michiganders across the state! In total, we have financed close to $460 million for Michigan homeowners and business owners for a total of 36,011 loans across the residential and commercial programs.

Another huge highlight of 2022 was the success of the Detroit Loan Fund (DLF). Launched with $2.5 million in funding from The Kresge Foundation, the DLF provides financing for Detroit homeowners, businesses, and nonprofits that have been locked out of traditional lending because of credit scores. This program fully supports our vision that an equitable transition to a carbon-free Michigan where everyone has access to the benefits of clean energy is possible. In the first 9 months alone (May 2022 – February 2023), 114 Detroit households have financed more than $1 million in home improvement projects that will make their homes more comfortable, efficient and affordable.

Milestones

  • Launched the Lead Poisoning Prevention Fund to fill a gap in lead abatement services for homeowners or property owners who do not qualify for free services through the Michigan Department of Health and Human Services
  • Developed a new strategic direction, mission, vision, and values rooted in equity and social justice
  • Received a $2.5 million dollar investment from the State of Michigan to leverage private investment in clean energy improvements for Michigan’s residents and businesses.
  • President and CEO Mary Templeton was honored as a 2022 Crain’s Notable Leader in Sustainability

2021

Onward & Upward

Loan volumes picked up in 2021, as we reached more than $370 million in energy efficiency and renewable energy financing for Michiganders and business owners across the Great Lakes state. We also made a commitment to ensure everyone—no exceptions—has peace of mind when it comes to the safety of their homes by launching the Lead Poisoning Prevention Fund.

Milestones

2020

Clean energy resiliency through a global pandemic

We’ve surpassed $300 million in energy efficiency and renewable energy financing in Michigan’s homes and businesses since 2009. In 2020 alone, we supported more than $53 million inenergy improvements.

Milestones

  • Launched a new project management portal and sophisticated residential loan application system and call center, improving program efficiency for customers, contractors, and program staff
  • Facilitated the launch of an on-bill financing program for Traverse City Light & Power residential customers, the second such program in the state
  • Celebrated ten years of financing with a Toast to Ten event
  • Enhanced residential offerings by adding lenders, expanding access to more customers and a wider geographic range
  • Grew contractor network by 88 for a new total of 839 contractors

2019

Powering a prosperous and clean energy future for all

Jumping from $172 million in clean energy financing in 2018, Michigan Saves zoomed past $200 million in 2019 to finance more than $229 million in renewable and energy-efficiency upgrades. That’s a 33 percent year-over-year increase that went to help more families and organizations take control of their energy consumption and, in some cases, production.

The nonprofit green bank also received national recognition as a leader in clean energy as Michigan Congresswoman Debbie Dingell helped lead the effort to create a national climate bank that built upon Michigan’s successful green bank model.

Milestones

  • Provided more than $169.8 million in residential financing
  • Provided more than $59.2 million in commercial financing
  • Launched revolving loan and rebate pilot program with DTE for customers with low to moderate incomes
  • Piloted and launched the national green energy network—a system that helps clean energy financing entities reduce costs and create efficiencies in program automation and design
  • Recognized as national leader in clean energy by congresswoman Debbie Dingell of Michigan upon introduction of the national climate bank act of 2019
  • Grew contractor network by 103 individuals—a total of 752 authorized contractors
  • Introduced first-ever commercial beer and wings competition for contractors

2018

$172 million and counting

After hitting the $100 million mark in energy financing in 2017, we continued to see explosive growth in 2018. In fact, we grew the total amount financed by more than 72 percent to close out the year with more than $172 million. But the growth didn’t stop there.

Thanks to our efforts to attract and retain contractors, we grew our contractor network to a total of 649 authorized contractors—a 22 percent increase from 2017. As our contractor network grew, so did the number of top performers in our residential Beer and Wings competition, with 2018 marking the largest-ever winner’s circle of contractors who financed 60 or more loans during the calendar year. We also expanded our list of eligible measures to offer even more residential and commercial energy improvement options; expanded our commercial offerings to support larger projects and provide longer terms; made key operational investments to enhance the contractor section of our website; and developed a platform that will automate workflows and facilitate communication between the loan center, lenders, contractors, and Michigan Saves staff.

Milestones

  • More than $36.9 million in residential loans
  • More than $14 million in commercial loans
  • Fourth annual Governor’s Energy Excellence Awards
  • Gained two full-time team members

2017

$100 million and a bright future

A banner year, 2017 saw Michigan Saves soar past the $100 million mark in energy-efficiency and renewable energy improvements. Recognizing this extraordinary growth, Michigan Saves stakeholders agreed on a sweeping new five-year strategy that would put the organization at $1 billion in green energy financing by 2023.

Milestones

  • $21.4 million in residential loans
  • $10.8 million in commercial loans
  • Third annual Governor’s Energy Excellence Awards
  • Won inspiring efficiency impact award by the Midwest Energy Efficiency Alliance

2016

Stronger solar energy improvements

In 2016, Michigan Saves redoubled its efforts in the solar market. Although the organization financed its first solar project back in 2011, it wasn’t until 2016 that Michigan Saves brought on additional lenders with more favorable terms specifically for this market. As a result, in early 2017, Michigan Saves had financed a cumulative one megawatt in solar photovoltaic (PV), enough to power over 200 homes per year. Just 11 months after that, the organization had doubled its growth in the solar PV market.

New programs for greater access

Partnering with the City of Holland, Michigan Saves developed a creative financing program. This on-bill program allowed consumers to pay for energy-efficiency and renewable energy improvements through utility bill payments, thereby offering longer terms (up to 15 years), simplifying payments, and expanding credit to anyone who had consistent utility bill payment history.

Milestones

  • $15.3 million in residential loans
  • $8.6 million in commercial financing
  • Second annual Governor’s Energy Excellence Awards

2015

The Governor’s Energy Excellence Awards

Seeking to celebrate outstanding achievements in energy excellence, Michigan Saves partnered with the Office of the Governor to organize the first ever Governor’s Energy Excellence Awards. This event, now in its fourth year, recognizes pioneers in the field of energy-efficiency around the state.

Michigan Saves finances more than $50 million in energy improvements

By mid-2015, Michigan Saves’ total loan portfolio surpassed the $50 million mark.

Milestones

  • $13.4 million in residential loans
  • $6.9 million in commercial loans

2014

Incentive programs

In 2014, Michigan Saves took steps to aggressively lower interest rates for residential improvements. The organization successfully secured its lowest standard rate ever at 4.25% APR. This helped spur Michigan Saves’ best year to date in terms of loan activity. Also in this period, through partnerships with utilities, Michigan Saves introduced interest rate buydowns, whereby some commercial and residential customers could get rates as low as 0% APR.

Business Energy Financing program growth

In 2014, Michigan Saves’ commercial financing program really began to take off, serving nearly twice as many customers than in the previous two years combined—a whopping 191 percent growth.

Milestones

  • $9.8 million in residential loans
  • $4.6 million in commercial financing

2013

New executive director

Although she had been helping lead Michigan Saves in her role as program manager for BetterBuildings for Michigan for quite some time, in 2013 Mary Templeton was formally brought on as executive director, bringing her deep knowledge and experience in residential and commercial energy-efficiency strategies. The organization went from having financed just under $20 million in energy-efficiency improvements prior to her appointment to over $100 million in less than five years under her leadership.

Multifamily unit expansion

A traditionally underserved market, multifamily dwellings still make up a large share of Michigan homes, particularly among the low- and mid-income residents of the state. To reach this market, Michigan Saves launched a program to serve this market and overcome barriers that historically made it difficult to secure financing for this sector.

Milestones

  • $8.7 million in residential loans
  • $1.6 million in commercial loans

2012

Our first commercial program

Initially a pilot program, Michigan Saves’ Business Energy Financing program formally got up and running in 2012 to meet a market demand for efficiency and renewable energy improvements to commercial buildings. This program surpassed its targets to grow to nearly $35 million in cumulative financing by the end of 2017

Milestones

  • $12.9 million in residential loans
  • $245,000 in commercial financing

2011

BetterBuildings for Michigan

Through a grant from the U.S. Department of Energy and Michigan Agency for Energy, the BetterBuildings for Michigan program was established to create a sustainable energy-efficiency market through outreach, education, and investment tools for lenders. Michigan Saves managed the grant on behalf of the state by working with several partners throughout the state to implement the program. By the time the program wound down in 2013, BetterBuildings for Michigan had completed energy-efficiency improvements on 7,689 homes throughout the state. Including directly leveraged homeowner participation in other programs, like the Weatherization Assistance Program and the Wyandotte Municipal Services WIRES program, BetterBuildings served 11,571 homeowners in total.

Milestones

  • First loan for a solar PV system in June 2011
  • $5.0 million in residential loans

2010

Our first loan

In October 2010, the first project was financed through Michigan Saves’ Home Energy Loan Program (HELP) for just over $3,000. HELP financing offers favorable terms and helps families reduce energy costs through improvements to their homes. As of the end of 2017, HELP has financed more than 9,000 projects in Michigan residences, totaling more than $87 million, $317,000 of which was in residential loans.

Milestones

  • $317,000 in residential loans

2009

The birth of Michigan Saves

Through a grant from the Michigan Public Service Commission, Michigan Saves began with the mission to stimulate and support investment in energy efficiency and renewable energy improvements in Michigan homes. This initial grant totaled $8 million, with $1 million earmarked to set up the organization and the remainder to establish a credit enhancement in the form of a loan loss reserve, which allows lenders to offer better rates and longer terms.

Board

Paul Schutt
President
Issue Media Group

Rose Tantraphol
Vice President
Moonsail North

David Wible
Treasurer
Comerica Bank

Selma Tucker
Secretary
GSO Solutions

Amanda Godward
Director
Ecotelligent Homes

Karen Gould
Ex Officio
Michigan Public Service Commission

Michael Larson
Director
Michigan Energy Options

Byran Lewis
Director
JR Lewis LLC

Jason Matley
Director
TRUE Community Credit Union

Emily McGraw
Director
Consumers Energy

Terri Schroeder
Director
DTE Energy

Conan Smith
Director
Michigan Environmental Council

Drew Smith
Director
University of Michigan

Alina Verdiyan
Director
UrsaLeo

Partners

Utility Partners

  • Consumers Energy
  • DTE
  • Holland Board of Public Works
  • Lansing Board of Water & Light
  • SEMCO Energy Gas Company
  • Traverse City Light & Power

Residential Lending

  • Genisys Credit Union
  • Lake Michigan Credit Union
  • LAFCU
  • Michigan State University Federal Credit Union
  • TBA Credit Union
  • TRUE Community Credit Union

Commercial Lending

  • First Independence Bank
  • Inclusive Prosperity Capital
  • NEIF
  • Team Financial Group

Additional Partners

  • City of Ann Arbor
  • City of Holland
  • Holland Energy Fund
  • Michigan Air Conditioning Contractors
  • Michigan Department of Environment, Great Lakes, and Energy
  • Michigan Department of Health and Human Services
  • Michigan Energy Efficiency Contractors Association
  • Michigan Public Service Commission
  • Southeast Michigan Air Conditioning Contractors Association
  • Traverse City
  • United States Department of Energy
  • Walker-Miller Energy