Energy Revolving Loan Fund - Clean Energy Advanced Manufacturing (Michigan)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Energy Revolving Loan Fund - Clean Energy Advanced Manufacturing|
|Incentive Type||Industry Recruitment/Support|
|Applicable Sector||Commercial, Industrial|
|Eligible Technologies||Photovoltaics, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, Yes; specific technologies not identified|
|Energy Category|| Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
|Funding Source|| American Recovery and Reinvestment Act of 2009 (ARRA)
|Maximum Incentive|| 2,000,000
|Terms|| 6% fixed interest rate|
Maximum of 6 years
|Program Administrator||Michigan Department of Career Development|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
Note: This program is not currently accepting applications. Check the program web site for information regarding future solicitations.
In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Clean Energy Advanced Manufacturing portion of this program is available to small businesses located in Michigan who are seeking to invest and diversify in clean energy sectors, manufacturing renewable energy and energy efficiency systems and components.
Applicants are evaluated based on minimum credit standards and face-to-face interviews. Loan recipients are required to submit quarterly reports related to energy use, payback, and other economic information. Program funds cannot be used for any systems installed before the date of the loan agreement. In order to qualify for the loans, the applicant must have 500 employees or less.
Program information and applications are available on the program web site.
|Contact Name||Robert Jackson|
|Department||Michigan Energy Office|
|Address||611 W. Ottawa Ave.|
|Phone|| (517) 373-2731
Authorities (Please contact the if there are any file problems.)
|Authority 1:||MCL § 460.911 et seq.|
|Date Enacted|| 2010-01-08
|Authority 2:||E.O No. 2011-4|
|Date Enacted|| 2011-02-23
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.
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