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FINANCING YOUR ENERGY RETROFIT PROJECTS. Alabama Department of Economic and Community Affairs. LOCAL GOVERNMENT ENERGY LOAN PROGRAM. Local Government Energy Loan Program. - PowerPoint PPT Presentation
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Alabama Department of
Economic and Community Affairs
Low-cost revolving loans for energy efficiency projects implemented by local governments, K-12 public school systems, and public colleges and universities.
Zero percent interest rate for up to ten years. Energy assessments and energy conservation
improvements to buildings, waste water treatment plants, street lights and traffic signals.
Municipal and County governments, colleges and universities up to $350,000
K-12 Schools up to $350,000 per campus or $500,000 per school system.
LOCAL GOVERNMENT ENERGY LOAN
PROGRAM
Alabama Department of Economic
and Community Affairs
Energy Division
Interior Lighting retrofits Street and sports field lighting, Traffic signals Heat recovery systems Load and energy management systems Electrical distribution systems (motors, variable
speed drives, fans, etc.) Infiltration reduction or other building envelope
improvements Boiler efficiency and central plant improvements Upgrading water treatment plants for energy
efficiency, energy recovery or both HVAC equipment Renewable energy systems Other approved cost effective energy retrofits
Have an energy audit conducted to determine needed energy conservation measures
Ensure your bank will provide a letter of credit for loan closing
Gather 12 months of energy history Submit application, energy audit and
financial statement to ADECA
Sustainable and Verifiable Energy Savings
Capitalized with $25M of ARRA SEP funds Credit enhancements w/private lender
partners $60M total loan pool Loan range: $50,000 - $4,000,000 Eligible applicants : Private companies
that own or operate existing commercial, industrial, or institutional facilities in Alabama
Interest rate: 2%, fixed Loan term: Blended useful life of the
improvements up to a maximum of 10 years
Use of Proceeds: Loans can be used for up to 100% of project costs
Energy Efficiency, Demand Management and/or Renewable Energy measures with savings that exceed loan payments (in aggregate)
◦ Mechanical systems (HVAC), hot water systems, lighting and power systems, energy management, envelope upgrades, refrigeration improvements, combined heat and power
◦ Solar thermal, solar PV, biomass heat and power, geothermal, micro-hydroelectric, methane capture and use, fuel cell technologies
◦ Must be commercially available, proven technologies◦ Retrofits to existing buildings – NOT new construction
Consulting, project management, equipment and labor costs
Abundant Power Solutions◦ Administers the AlabamaSAVES Program and services loans from the
direct loan pool Private Lenders
◦ Provide project financing and loan servicing Efficiency Finance
◦ Serves as the origination partner for the program to recruit and train contractors and help them source projects. Facilitates the process for prospective borrowers from start to finish.
Metrus Energy◦ Offers an innovative financial solution to develop and fund
comprehensive energy efficiency projects with no upfront cost or risk to Customers.
• Phillips Lighting◦ Offers private financing for tailored lighting solutions, including
assessment, design and implementation
Potential applicants should contact Efficiency Finance, Metrus Energy, or Phillips Lighting to initiate project development (contact info on website – “Get Started” tab)
Application fee: $500 for projects <$250K and $1,000 for larger projects
Applications accepted on rolling basis Review and response within 30-45 days
