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AlabamaSAVES Revolving Loan Program (Alabama)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/Amt Minimum loan: 50,000  +
Incentive/ApplDsc Commercial  + , Industrial  + , Institutional  +
Incentive/Cont2Addr P.O. Box 5690  +
Incentive/Cont2Addr2 401 Adams Avenue  +
Incentive/Cont2Dept Alabama Department of Economic and Community Affairs  +
Incentive/Cont2Div Energy Division  +
Incentive/Cont2Email kathy.hornsby@adeca.alabama.gov  +
Incentive/Cont2Name Kathy Hornsby  +
Incentive/Cont2Phone (334) 242-5284  +
Incentive/Cont2Place Montgomery, Alabama  +
Incentive/Cont2Website http://www.adeca.alabama.gov/energy  +
Incentive/Cont2Zip 36103  +
Incentive/Cont3Addr 2001 Park Place, Suite 259  +
Incentive/Cont3Dept Abundant Power Solutions  +
Incentive/Cont3Email mmchugh@abundantpower.com  +
Incentive/Cont3Name Michael McHugh  +
Incentive/Cont3Phone ((20) 5) -502-  +
Incentive/Cont3Phone2 ((25) 1) -510-  +
Incentive/Cont3Place Birmingham, Alabama  +
Incentive/Cont3Zip 35203  +
Incentive/ContAddr 1355 Greenwood Cliff  +
Incentive/ContAddr2 Suite 300  +
Incentive/ContDept Abundant Power Solutions  +
Incentive/ContEmail info@alabamasaves.com  +
Incentive/ContPhone (704) 271-9890  +
Incentive/ContPhone2 (888) 271-9378  +
Incentive/ContPlace Charlotte, North Carolina  +
Incentive/ContWebsite http://www.abundantpower.com  +
Incentive/ContZip 28204  +
Incentive/EnergyCat Renewable Energy Incentive Programs  + , Energy Efficiency Incentive Programs  +
Incentive/FundSrc American Recovery and Reinvestment Act (ARRA); Additional funding from private lenders  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc Maximum loan: 4,000,000  +
Incentive/Name AlabamaSAVES Revolving Loan Program  +
Incentive/ProgAdmin Abundant Power  +
Incentive/ProgBudget $70,000,000  +
Incentive/Summary The Alabama Department of Economic and Com
The Alabama Department of Economic and Community Affairs (ADECA) offers an energy efficiency and renewable energy revolving loan fund called AlabamaSAVES. The funds are available to businesses and industries located in Alabama for retrofitting existing facilities. A variety of technologies are eligible; see the [http://www.alabamasaves.com/Collateral/AlabamaSAVES-TechnicalGuide.pdf program technical guide] for full details. In order to apply, interested parties must first [http://www.alabamasaves.com/GetStarted.aspx contact an AlabamaSaves representative.] Upon receiving and submitting the necessary paperwork, a consultation on financing and next steps is scheduled. The Loan Application formalizes the request for a subsidy or direct loan. The process requires that an energy assessment, defining the project and estimated energy savings impact, be submitted and reviewed to ensure a simple payback of 10 years or better. The program operates as a revolving loan program where the fund is replenished by interest and principal repayments made on prior loans and as a loan subsidy program enabling low cost loans from private lenders through credit enhancements – interest rate buydowns and loan loss reserves. The fund was initially capitalized with American Recovery and Reinvestment Act (ARRA) funding. Please see the program web site for additional information and program materials.
itional information and program materials.  +
Incentive/TechDsc Water Heaters + , Lighting + , Lighting Controls/Sensors + , Steam-system upgrades + , Energy Mgmt. Systems/Building Controls + , Building Insulation + , Windows + , Doors + , CHP/Cogeneration + , Solar Water Heat + , Photovoltaics + , Biomass + , Hydroelectric energy + , Geothermal Electric + , Small Hydroelectric + , Renewable Fuels + , Fuel Cells using Renewable Fuels + , Natural Gas +
Incentive/TechDscOther LED Lighting  +
Incentive/Terms Interest Rate: 1% as of December 2014<b
Interest Rate: 1% as of December 2014<br /> Loan Length: 10 year maximum<br /> Application fee: 500 for projects less than 250,000; 1,000 for projects over 250,000<br /> Program origination fee: (3% for direct loans, 2% and reasonable and customary costs from a participating lender partner for subsidized loans). Origination fees are subject to a minimum of 2,000.
on fees are subject to a minimum of 2,000.  +
Incentive/Type State Loan Program +
OpenEI/PageDescription AlabamaSAVES Revolving Loan Program: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Alabama  + , State Loan Program  + , Abundant Power  +
Place Alabama +
Website http://www.alabamasaves.com/  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts
Modification date
"Modification date" is a predefined property that corresponds to the date of the last modification of a subject and is provided by Semantic MediaWiki.
09:00:18, 17 December 2014  +
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