In 2013, Inyo County partnered with Southern California Edison (SCE) to research opportunities for seed money and to develop policies to set up an energy efficiency revolving loan fund (EERLF) to serve as a dedicated source of funding for energy-saving projects for the County. Work on the Fund has been underway and culminated last week with the Board of Supervisors’s passing of the new EERLF (see page 63 of these Board meeting documents).
With seed funding, the new loan fund will be able to finance energy efficiency projects identified as priority in the County’s 2012 Cost, Energy and Service Efficiencies Action Plan (CESEAP) – the cost savings found through implementation of these projects would then return to replenish the fund and support other energy efficiency projects.
Implementation of these projects also supports the County’s existing Energy Conservation Policy, which targets energy usage reductions of 5-10%.
Inyo County is considering low-interest loans, rebate incentive programs, and the Rural Energy for America Program (REAP), which provides grants and loan guarantees for energy efficient equipment and construction.
The Draft Report (page 68 of the Board’s meeting documents), funded through SCE, provides an overview of potential projects, engagement of stakeholders, tracking of savings, and more and is a great resource to local governments considering setting up a revolving energy efficiency loan fund.
Looking for more on sustainability-focused revolving loan funds in California local governments? Click here.