PROVIDENCE, R.I. (WJAR) — Providence Mayor Brett Smiley on Thursday signed the Green Revolving Fund Ordinance into law.

The ordinance creates the city’s first-ever dedicated fund for energy efficiency priorities, the mayor’s office said.

“Since I took office, my administration has been focused on initiatives that build a more resilient and environmentally friendly city for all of our neighbors,” said Mayor Brett Smiley. “I am excited to sign into law this City’s first-ever dedicated funding source for renewable, clean energy sources, as now is the time that local government must do more to improve aging infrastructure that is vulnerable to a changing climate. Investing into clean energy in our City buildings will move the needle on carbon emission reductions, while maintaining reliable public services and delivering quality-of-life improvements for our residents.”

According to city officials, the Green Revolving Fund will finance energy efficiency, renewable energy, and other electrification projects.

The upgrades will help save money for the city and taxpayers, as the upgrades will reduce long-term energy expenses, lower deferred maintenance costs over time, and more.