City of Detroit - SmartBuildings Detroit Green Fund Loan (Michigan)
Last modified on January 5, 2015.
Financial Incentive Program
|Name||City of Detroit - SmartBuildings Detroit Green Fund Loan|
|Incentive Type||Local Loan Program|
|Applicable Sector||Commercial, Local Government, State Government, Multi-Family Residential, Institutional|
|Eligible Technologies||Lighting, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Heat recovery, Steam-system upgrades, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Roofs, Custom/Others pending approval, Solar Water Heat, Photovoltaics, Wind, Hydroelectric, Geothermal Heat Pumps, Other Distributed Generation Technologies|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Amount|| Between 50,000 and 150,000
|Funding Source|| The American Reinvestment and Recovery Act (ARRA) of 2009; State Energy Program
|Maximum Incentive|| 100,000
|Terms||A maximum fee of 1 percent of the loan amount or 500, whichever is greater, can also be charged, in addition to lenders out of pocket expenses. SmartBuildings Loan terms will be not to exceed 7 years. An initial interest rate of 2.99% which can increase to 5.99 % per annum over time.|
|Program Administrator||The Economic Development Corporation|
Note: '''''Check the program web site for information regarding solicitations.
The Economic Development Corporation (EDC) of the City of Detroit is offering financial assistance to commercial, institutional, and public buildings in Detroit that install energy efficiency and renewable energy technologies. Loans are available between $50,000 to $150,000. Eligible technologies include building insulation, glazing treatments, windows, doors, weatherstripping, insulated roofs, solar panels, geothermal installations, wind, hydroelectric, thermal load reduction, HVAC, interior and exterior lighting, electrical, humidification, and low flow water/plumbing projects. Other technologies may also be eligible for funding. In order to apply for financial assistance, contact the Program Manager listed below.
Applicants may use funding from this grant program in combination with the SmartBuildings Detroit Grant Program.
This program is part of the U.S. Department of Energy's (DOE) Better Buildings Program. The DOE has awarded over $500 million in federal funds to more than 40 states, local governments, and organizations to administer local programs targeting a variety of building types. Combined, these local programs are expected to improve the efficiency of more than 170,000 buildings through 2013 and save up to $65 million in energy costs annually.
|Contact Name||SmartBuildings Detroit|
|Department||City of Detroit|
|Division||Economic Development Corporation|
|Address 2||Suite 2200|
|Phone|| (313) 963-2940
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.
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