State Energy Loan Program
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The program offers low-interest loans for projects that:
- Save energy;
- Produce energy from renewable resources such as water, wind, geothermal, solar, biomass, waste materials or waste heat;
- Use recycled materials to create products; or
- Use alternative fuels.
Loans are available to individuals, businesses, schools, cities, counties, special districts, state and federal agencies, public corporations, cooperatives, tribes, and non-profits. School districts receive special rates.
Though there is no legal maximum loan, the size of loans generally ranges from $20,000 to $20 million. Terms vary, but are generally set to match the term of the bonds that funded the loans. Loan terms may not exceed project life. Loan fees are set based on the size of the loan and range from 1 - 2% of the loan amount requested.
Applications are available on the program web site.