Industrial Energy Technology Revolving Loan Fund (Arkansas)
Summary
Last modified on February 12, 2015.
Financial Incentive Program
| Place | Arkansas
|
|---|---|
| Name | Industrial Energy Technology Revolving Loan Fund |
| Incentive Type | State Loan Program |
| Applicable Sector | Industrial |
| Eligible Technologies | Biomass, Photovoltaics, Wind, Unspecified technologies |
| Active Incentive | No |
| Implementing Sector | State/Territory |
| Energy Category | Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs
|
| Start Date | 1/2010
|
| Maximum Incentive | $2,000,000
|
| Terms | Maximum loan term: 10 years Interest Rates Loan Term of 6-10 years: 2% below market rates |
| Program Administrator | Arkansas Energy Office |
| Website | http://arkansasenergy.org/energy-in-arkansas/energy-policy-and-legislation/recovery-2009/state-energy-program/industrial-energy-technology-loan-fund.aspx
|
| References | DSIRE[1] |
Summary
Low interest-rate loans are available to industries in Arkansas to implement new energy efficient measures or install renewable energy generation. Funding is available for:
- Replacing low efficiency equipment including but not limited to turbines, motors, lighting, and HVAC systems
- Installation of wind, solar, or biomass projects
- Recycling waste heat
- Power factor corrections resulting in removal or reduction of utility power factor penalties
Loan rates are dependent on the loan length and are related to the current market interest rates. In order to receive funding, the return on investment should be less than the length of the loan term. Projects with a return on investment expected to be greater than 10 years will still be considered if the company commits to repaying the loan within 10 years with other funds.
Funds are distributed on a first come first served basis. Loan repayments begin 60 days after the project completion and are due quarterly. Interested companies should contact the Arkansas Energy Office to begin an application.
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]
References