Energy Revolving Loan Fund - Passive Solar (Michigan)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Energy Revolving Loan Fund - Passive Solar|
|Incentive Type||State Loan Program|
|Applicable Sector||Agricultural, Institutional, Nonprofit|
|Eligible Technologies||Passive Solar Space Heat|
|Energy Category||Renewable Energy Incentive Programs|
|Funding Source|| American Recovery and Reinvestment Act of 2009 (ARRA)
|Maximum Incentive|| $15,000
|Terms|| 4% fixed interest rate|
Interest-only payments for first 6 months
|Program Administrator||Michigan Department of Career Development|
In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Passive Solar Systems portion of the loan program is available to family farms and non-profits located in Michigan. Under this program, a passive solar system is defined as "a structure which can extend the growing season to ten to twelve months without additional supplemental heat or light."
Applicants are evaluated based on minimum credit standards and face-to-face interviews to determine knowledge of and interest in passive solar systems. Loan recipients will be required to attend a passive solar system workshop and are required to submit quarterly reports related to production. Program funds cannot be used for any costs incurred before the date of the loan agreement.
Applications are available on the program web site.
|Contact Name||Terri Novak|
|Department||Department of Energy, Labor and Economic Growth|
|Address||611 W. Ottawa Ave.|
|Phone 2|| (517) 241-6229
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.