Sustainable Energy Utility (SEU) - Revolving Loan Fund

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Eligibility: 
Commercial
Industrial
Local Government
Nonprofit
Schools
State Government
Federal Government
Tribal Government
Agricultural
Institutional
Savings Category: 
Solar Water Heat
Solar Space Heat
Solar Photovoltaics
Wind (All)
Biomass
Geothermal Heat Pumps
Yes; specific technologies not identified
Wind (Small)
Other Distributed Generation Technologies
Program Info
Sector Name: 
State
Administrator: 
Delaware Sustainable Energy Utility
Funding Source: 

Regional Greenhouse Gas Initiative (RGGI)

State: 
Delaware
Program Type: 
Loan Program
Summary: 
The Revolving Loan Fund Objective is to encourage the adoption and installation of end-user energy efficiency measures and customer-sited renewable generation that result in savings that can lower customers’ bills and reduce the environmental impacts of energy production, delivery, and use.

Program financing is available to all credit-qualified businesses, local governments, school boards, and non-profits located in existing facilities in the State of Delaware. Eligible activities include: installation of eligible measures in or on a building or site owned or leased by the applicant; conducting an energy efficiency audit; code-related repair and health and safety measures that are required to secure the energy savings of the projections.

Contractors must meet requirements for the SEU’s Responsible Contractor Policy and the State of Delaware prevailing wage rates for mechanics and/or laborers for contracts greater than $50,000. Applicant must demonstrate the ability to repay the loan or lease as evidenced by review of credit history, financial statements and bank and trade references. For energy efficiency projects, savings over the weighted useful life of the measures must be greater than the cost of the measures including financing.

Equipment must be justified by an energy assessment from an approved auditor. Savings must exceed costs of energy efficient measures over their useful life, including financing.

 State agencies and school districts can also quality for 50% of the cost for energy audits up to $150,000 through the Sustainable Investment Evaluation program.