The Energy Efficiency Revolving Loan Fund (RLF) Capitalization Grant Program offers technical assistance (TA) to support states with expanding or establishing RLF programs that meet federal requirements, optimally leverage private capital, and achieve state priorities.

Get Technical Assistance

The Energy Efficiency Revolving Loan Fund Program is now providing limited-time and limited-scope direct technical assistance to states eligible to receive funding under the RLF program. Submit a technical assistance request using the Revolving Loan Fund Program – Technical Assistance Request Form.

Revolving Loan Fund (RLF) Resource Library

The Revolving Loan Fund (RLF) Resource Library provides foundational information to learn about, design, and manage an RLF program. Additionally, the Resource Library includes case studies and sample documentation with real-world examples and tools to inform the development of RLF programs. Resources will be continually added to this library.

This Resource Library is designed for states deploying RLF programs under the Bipartisan Infrastructure Law (BIL 40502) Energy Efficiency Revolving Loan Fund Capitalization Grant Program and may also be a valuable resource for local governments and others designing and managing RLF programs.


Part 1—RLFs 101: Foundational Resources

Start with the basics of RLFs and how they can be used to support your clean energy goals. Understand the key features, program design options, and provisions for RLF programs developed under BIL 40502.


Part 2—Designing an RLF Program

Designing an RLF program for your objectives involves multiple decision points. These resources can help you navigate decisions related to establishing program goals; identifying and reaching target sectors and designing financing and administrative structures.

Identifying and setting program goals is the first step in developing an RLF program and will inform the overall RLF design. Slides 10 and 11 of the RLF Bootcamp provide guidance on setting program goals, including designing an RLF that can address gaps in access to financing and complement what is offered in the marketplace.

Depending on the sector targeted, there are different considerations for RLF design.

  • Enable Financing for Residential Efficiency Upgrades
    This resource outlines financing programs for the residential sector, including examples of local government programs and ideas for potential financing partners.
  • Residential Program Guide
    This online collection of examples, tools and templates, and best practices helps residential energy program administrators implement, manage, and evaluate effective programs. Guidance and resources include financing, contractor engagement and workforce development, and marketing and outreach, among others.

Financing structures are often tailored towards specific program goals and targeted sectors and may include a role for private capital. Chosen structures can directly impact the amount of private capital that will be leveraged in an RLF program.

Direct lending

Part 1—RLFs 101: Foundational Resources of this Resource Library explain the direct lending RLF model, in addition to credit enhancement financing instruments (detailed below).

Credit enhancements
  • Credit Enhancements
    This guide to credit enhancements—including loan loss reserves (LLRs) and interest rate buy-downs (IRBs)—describes how and why credit enhancements can be useful financing structures for energy efficiency financing.
  • Loan Loss Reserve Funds
    This resource covers the main goals of LLR funds and details program design and program administration considerations.
  • Credit Enhancement Overview Guide
    This guide explores several credit enhancement approaches while discussing how to choose credit enhancement mechanisms based on a target sector, and strategies for establishing partnerships with private capital providers.
RLF Portfolio Pro Forma

The RLF Portfolio Pro Forma is an Excel-based tool that enables users to run and compare scenarios for loan portfolios across three structures: co-lending, interest rate buydowns, and loan loss reserves. The tool can help answer questions such as: What is the amount of loans that can be supported for an assumed amount of RLF funding? What is the amount of RLF funds needed to support an assumed amount of loans? What amount of funds can be leveraged under different financing structures? (View a brief video tutorial of the tool.)

Loan terms and underwriting

When designing RLFs or partnering with financial institutions on an LLR, loan terms used during the underwriting process can be customized for specific program goals and target sectors.

The multiple tasks and roles necessary for successful management of an RLF requires administrative efforts, and often, delegation of roles and responsibilities to third parties with specialized skills and resources.

Overview: Administrative structures

RLF programs can be administered fully in-house, delegate a majority of responsibilities to a third party, or land somewhere in between. Factors to consider in selecting an administrative structure include the program's financial structure and state capacity and expertise. Slides 25-34 of the RLF Bootcamp provide an overview of administrative structures, advantages and disadvantages of administration options, and approaches to leveraging partnerships.

RLF roles and responsibilities include, but are not limited to:

  • Program marketing and training
  • Energy audits and project eligibility
  • Loan origination and underwriting
  • Loan servicing
  • Secondary market transactions
  • Program performance (inc. federal reporting as required)

Potential third-party partners capable of supporting RLF responsibilities:

  • Housing finance agencies
  • Finance authorities (e.g., port authorities)
  • Green banks
  • Community development financial institutions
  • Other non-profit or for-profit service providers and financial institutions  
Approaching and working with financing partners

See Part 4—Case Studies and Sample Documentation for example RFPs, agreements, and more.

View our current RLF technical assistance opportunities for additional assistance in designing RLF programs under BIL 40502.


Part 3—Managing an RLF Program

These topics cover common considerations for managing and optimizing an RLF program and include resources for troubleshooting program barriers.

Developing a plan to reach target market sectors drives uptake and supports program goals. Slide 37 of the RLF Bootcamp provides ideas for generating program participation.

  • Messaging Comprehensive Retrofits 
    This report offers actionable recommendations for engaging in outreach to homeowners to implement comprehensive energy retrofits and upgrades.

The RLF Energy Audit Guide is a collection of resources for residential and commercial auditor training, audit tools (e.g., Home Energy Score, Audit Template, and Building Sync), and audit considerations when braiding funding programs. Some of the resources in this guide are highlighted below.

Auditors, Training, and Workforce Development
Audit tools



  • BuildingSync
    This site includes resources for using the BuildingSync tool for energy audits in commercial buildings. It includes templates for standardizing procurement and example audit files. Direct support can be requested using the “Get Help” feature.
  • Audit Template Resource Hub
    This hub provides resources related to DOE’s Audit Template, recommended software for audits of commercial and multifamily buildings. Direct support can be requested through this resource hub using the “Get Help” feature.
    • EE RLF Audit Template – The Audit Template software includes a template specific for the RLF Program, including required and optional energy audit data points. This quick start guide provides information about the RLF (EE RLF) template, including how to access and implement the template.


The RLF FAQs address common energy audit questions related to RLF programs developed under BIL 40502. See the RLF program webpage for more information.

The RLF program under BIL 40502 is covered by the Justice40 (J40) Initiative. States seeking to implement J40 can use these tools to identify and plan for the needs of underserved and disadvantaged communities (DACs).

Map tools

  • Long-Term Performance of Energy Efficiency Loan Portfolios
    This report analyzes the performance of energy efficiency loans, including defaults, using data from four established state energy efficiency loan programs. While loan losses happen, this report suggests energy efficiency loan defaults are low, outperforming comparable loans. This analysis can provide insight into assessing RLF program performance.


Part 4—Case Studies and Sample Documentation

View case studies and sample documentation in the table below.

TIP: Use the Search box to find resources related to specific topics.

Resource Financing structure Sector Resource link Type of resource Description
Michigan Saves case study Loan loss reserves Residential Webinar slides | Webinar recording Case study Profile of the Michigan revolving loan fund (RLF) program focusing on loan loss reserves and the residential sector.
Texas LoanSTAR Program case study Direct RLF Public Webinar slides | Webinar recording Case study Profile of the Texas LoanSTAR revolving loan fund (RLF) program focusing on traditional RLF and the public sector.
California's Advanced Rebate Program case study Direct RLF Residential Webinar slides | Webinar recording Case study Profile of the California revolving loan fund (RLF) program focusing on bridge loans, rebates, and the residential sector.
Residential Financing Programs with Nebraska and New York case study Co-lending, Loan loss reserves Residential Webinar slides | Webinar recording Case study Profile of the Nebraska and New York revolving loan fund (RLF) programs focusing on co-lending, loan loss reserves, and the residential sector.
Minnesota's Combined RLF and Commercial PACE Model case study Direct RLF Commercial Webinar slides | Webinar recording Case study Profile of the Minnesota revolving loan fund (RLF) program focusing on secondary market sales, commercial PACE, and the commercial sector.
Energy Efficiency Loan Program Agreement Loan loss reserves Residential Energy Efficiency Loan Program Agreement Template Sample document Template of Energy Efficiency Loan Program Agreement between government entity and third-party administrator for a residential loan loss reserve program, adaptable for different entities and sectors.
Model Agreement Between Government Entity and Financial Institution to Establish a Financing Program Loan loss reserves Residential, Commercial, Public Model agreement Sample document Template of an agreement between a government entity and financial institution to establish a loan loss reserve, adaptable for different entities and sectors.
RFP for Residential Loan Origination Services Direct RLF Residential NYSERDA RFP for Residential Loan Origination Services Sample document Sample RFP from NYSERDA for a direct RLF administered by a third-party.
Lender Participation Agreement for Interest Rate Buydown Interest rate buydown Residential, Commercial, Public NYSERDA Agreement for interest rate buydown Sample document Sample lender participation agreement between NYSERDA and a lender receiving an interest rate buydown payment.
Participation Loan Agreement for co-lending model Co-lending Commercial, Public NYSERDA Agreement for co-lending participation Sample document Sample participation loan agreement between NYSERDA and co-lending loan originator
RFI for Revolving Loan Fund Program Administrator Co-lending, Direct RLF Commercial, Residential, Public HSEO RFI for RLF/co-lending program administrator Sample document Sample RFI from Hawai'i for a revolving loan fund/co-lending program administrator

Supplemental Resources

  • NASEO: Energy Financing
    This National Association of State Energy Officials (NASEO) resource explores energy financing structure models and recent news in state energy financing.
  • CDFA Spotlight: Revolving Loan Funds (RLFs)
    This Council of Development Finance Agencies (CDFA) resource provides a step-by-step guide to starting an RLF. It also details RLF program characteristics and identifies potential RLF issues and approaches to overcoming them.

Contact Us

For questions, comments, or other requests, please contact the RLF inbox at