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AlabamaSAVES Revolving Loan Program

Eligibility 
Commercial
Industrial
Institutional
Savings Category 
Solar Water Heat
Geothermal Electric
Solar Photovoltaics
Biomass
Hydroelectric
Combined Heat & Power
Water Heaters
Lighting
Lighting Controls/Sensors
Steam-system upgrades
Energy Mgmt. Systems/Building Controls
Building Insulation
Windows
Doors
Other EE
Hydroelectric (Small)
Fuel Cells using Renewable Fuels
LED Lighting
Commercial Refrigeration Equipment
Program Info
Sector Name 
State
Administrator 
Abundant Power
Funding Source 

American Recovery and Reinvestment Act (ARRA); Additional funding from private lenders

State 
Alabama
Program Type 
Loan Program
Summary 
The Alabama Department of Economic and Community Affairs (ADECA) offers an energy efficiency and renewable energy revolving loan fund called AlabamaSAVES. The funds are available to businesses and industries located in Alabama for retrofitting existing facilities. A variety of technologies are eligible; see the program technical guide for full details.

In order to apply, interested parties must first contact an AlabamaSaves representative. Upon receiving and submitting the necessary paperwork, a consultation on financing and next steps is scheduled. The Loan Application formalizes the request for a subsidy or direct loan. The process requires that an energy assessment, defining the project and estimated energy savings impact, be submitted and reviewed to ensure a simple payback of 10 years or better.

The program operates as a revolving loan program where the fund is replenished by interest and principal repayments made on prior loans and as a loan subsidy program enabling low cost loans from private lenders through credit enhancements – interest rate buydowns and loan loss reserves. The fund was initially capitalized with American Recovery and Reinvestment Act (ARRA) funding. Please see the program web site for additional information and program materials.