Low Interest Loans Available for Energy Efficiency
November 8, 2012 Over $22 million in loan funds are available from the California Energy Commission at an economically low interest rate for energy cost saving projects. The loans are available to California public schools, including charter public schools. The funds are flexible and may be used in conjunction with other funds, rebates, and incentives you're your school may currently be receiving.
- Fixed rate, simple application, no credit approval, no collateral, no fees.
- $3 million maximum per application, and no minimum.
- The repayment schedule is based on the estimated annual energy savings and is structured to be revenue neutral.
- The funds are available on a reimbursement basis. For each reimbursement request, receipts and invoices for incurred expenses must be submitted along with proof of payment.
- Loans for energy projects must be repaid from energy cost savings within 15 years, including principal and interest (approximately 13 years simple payback). Simple payback is calculated by dividing the dollar amount of the loan by the anticipated annual energy cost savings.
- Lighting systems.
- Streetlights and LED traffic signals.
- Water and waste water treatment equipment.
- Heating, ventilation, and air conditioning equipment.
Applications are being accepted on a first-come, first-served basis. Information and applications are available here.
Schools can also contact the Special Projects office with questions at (916) 654-4104, or email@example.com.