About the Program
According to the CEO’s 2018 Energy Use in the Colorado Cannabis Industry report, the energy burden associated with Colorado cannabis cultivation is significant, with cultivation facilities using an estimated 2% of the electricity generated in Colorado. As a result of this electricity use and additional natural gas and propane use, energy expenditures make up an estimated 33% of cultivation business’ operating costs. However, significant energy cost saving and resource reduction opportunities exist through the implementation of resource efficiency measures.
To assist Colorado cannabis cultivation facilities in realizing these opportunities, CEO has developed the Cannabis Resource Optimization Program (CROP). 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. CCEF and a partner lending institution will assist in financing to help program participants implement efficiency measures.
About Stearns Bank
With over $2.3 billion in assets, Stearns Bank N.A. is a financial institution providing nationwide financing for your unique business needs. Employee-owned, Stearns Bank takes pride in providing fast response times, customized financing solutions and personal service, from start to finish.
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