Clean Energy Business Loan Program (Wisconsin)

Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place	Wisconsin
Name	Clean Energy Business Loan Program
Incentive Type	Industry Recruitment/Support
Applicable Sector	Commercial, Industrial
Eligible Technologies	Anaerobic Digestion, Biomass, CHP/Cogeneration, Geothermal Electric, Geothermal Heat Pumps, Hydroelectric, Hydrogen, Landfill Gas, Other Distributed Generation Technologies, Photovoltaics, Renewable Fuels, Solar Thermal Electric, Solar Thermal Process Heat, Solar Water Heat, Wind, Unspecified technologies, Energy Storage
Active Incentive	No
Incentive Inactive Date	2010-07-30
Implementing Sector	State/Territory
Energy Category	Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs
Amount	Varies
Funding Source	American Recovery and Reinvestment Act (ARRA)
Maximum Incentive	State contribution limited to 25% of project costs
Terms	Loans at 2% interest rate for 5-10 years (equipment) or 5-7 years (working capital); deferral of up to one year.
Program Administrator	Office of Energy Independence
Website	http://commerce.wi.gov/BD/BD-SEP-ARRA.html
References	DSIRE

Summary

Deadline for submissions was July 30, 2010. Applications received after this date will not be considered.

The Wisconsin Department of Commerce is offering low-interest loans to for-profit manufacturing companies for projects that support renewable energy and energy efficiency jobs within the state. The program is only available for businesses locating or expanding within the state of Wisconsin. Loans will be issued for up to 25% of project cost at a fixed interest rate of 2% over terms of 5-7 years (working capital) or 5-10 years (equipment). Loan repayment may be deferred for up to one year. The program is intended for businesses that promote:

• major renewable energy production projects;
• the manufacture of clean energy products;
• advanced manufacturing of clean energy components;
• retooling to provide component parts and other critical needs for a successful, totally integrated supply chain;
• improving industrial users’ competitiveness through energy efficiency and renewable energy deployment.

The definitions of eligible renewable energy and energy efficiency related technologies are not specified, but the program website gives several examples possible projects. Project eligibility is limited to those that create or retain jobs through clean energy advanced manufacturing, clean energy supply chain development, and through reduction in the use of fossil fuels at industrial facilities, including the integration of renewable energy into industrial processes. Funds specifically may not be used for construction or building repairs; to purchase buildings or land; or to perform research, development, and demonstration activities for non-commercial technologies. Projects that have already obtained other necessary financing pieces; environmental and zoning permits; and other clearances will be given a high priority under this program.

Money to fund this program comes from State Energy Program funds under the federal American Recovery and Reinvestment Act (ARRA) of 2009, otherwise known as the federal stimulus bill. Currently, $28 million in funding is available through this program with up to $5 million set aside for applications in state's cheese industry. The program is eventually expected to have a total budget of $55 million. Please consult the program website for further details or contact the appropriate Commerce Area Development Manager to discuss your project.

Incentive Contact

Contact Name	General Information - Clean Energy Business Loan Program
Department	Wisconsin Department of Commerce
Email	COMSEP-ARRA@wisconsin.gov

• Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.