CEC Offers 1% Loans for Efficiency & Generation Projects

NEW LOW INTEREST LOAN RATE (1%) for Energy Efficiency and Energy Generation Projects available to California Cities, Counties, Public Schools and Universities, Special Districts, and Public Care Hospitals/ Institutions.

Over $22 million in loan funds from the California Energy Commission are available for energy cost saving projects. The Energy Commission is accepting loan applications on a first-come, first-served basis. Loan financing is from the Energy Conservation Assistance Account (ECAA) and may be used in conjunction with other funding, rebates and incentives.

– Fixed Rate, simple application, no credit approval, no collateral, no fees.

– $3 million maximum per application, and no minimum

– California Cities, Counties, Public Schools and Universities, Special Districts, and Public Care Hospitals/ Institutions are eligible to apply.

– 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.

– Energy efficiency projects must be technically and economically feasible.

Sample of Eligible Projects:

– Lighting systems
– Streetlights and LED traffic signals
– Water and waste water treatment equipment
– Heating, ventilation and air conditioning equipment

Application and further info at:
http://www.energy.ca.gov/efficiency/financing/