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Local Option - Municipal Alternative Energy Revolving Loan Program (Ohio)
Incentive/Active false  +
Incentive/Amt Not specified  +
Incentive/ApplDsc Commercial  + , General Public/Consumer  + , Industrial  + , Residential  +
Incentive/ApplDscOther Real Property Owner  +
Incentive/AuthCode ORC 717.25  +
Incentive/AuthDtEff 2010-06-17  +
Incentive/AuthDtEnact 2010-06-17  +
Incentive/AuthLink  +
Incentive/EnergyCat Energy Efficiency Incentive Programs  + , Renewable Energy Incentive Programs  +
Incentive/ImplSector State/Territory  +
Incentive/InActDt June 17, 2010  +
Incentive/Name Local Option - Municipal Alternative Energy Revolving Loan Program  +
Incentive/StartDate June 17, 2010  +
Incentive/StartDateString 2010-06-17  +
Incentive/Summary '''''This program is a replica of the [htt …
'''''This program is a replica of the [ Ohio PACE program]. Please refer to the Ohio PACE entry for updated information.''''' Ohio enacted legislation ([ S.B. 232]) in June 2010 that authorizes cities and counties to establish revolving loan programs to finance renewable energy and energy efficiency projects that are permanently affixed to residential, commercial or other real property. A revolving loan program generally refers to a loan fund, where the loan repayments and interest are fed back into the fund. In this way, the loan can, in theory, continue indefinitely. By law, the resulting loan programs may only charge interest rates below the prevailing market rate. SB 232 allows municipalities to establish an alternative energy revolving loan program that assists property owners (not just residents) with installing on their property: # solar photovoltaic projects, solar thermal energy projects, geothermal energy projects and customer-generated energy projects (wind, biomass or gasification facilities for the generation of electricity) # energy efficiency technologies, products and activities that reduce or support the reduction of energy consumption, allow for the reduction in demand or support the production of clean, renewable energy '''Municipal Ordinance Procedure''' In order to establish an alternative energy revolving loan program, a municipality needs to adopt an ordinance that: # creates an alternative energy revolving loan fund in the municipal treasury # provides a source of money to seed that fund # establishes facilities criteria, procedures and terms and conditions for making loans from that fund # specifies that property owners may repay loans in installments, which may be paid and collected as if they were special assessments; specifies that loan repayments and investment earnings are credited to that fund # establishes other measures that are necessary for the proper operation of the program to encourage alternative energy and energy efficient technologies Alternative energy revolving loan programs must submit a quarterly report to related distribution utilities detailing loan supported energy projects and provide additional information as necessary for utilities to count energy efficiency and demand reduction credits. Contact your local government to find out if it offers financing for renewable energy and/or energy efficiency through this option.
/or energy efficiency through this option.  +
Incentive/TechDsc Biomass + , Geothermal Electric + , Photovoltaics + , Solar Thermal Electric + , Wind +
Incentive/TechDscOther Unspecified technologies  + , Gasification  +
Incentive/Terms Interest rates must be below prevailing market rates  +
Incentive/Type Local Loan Program +
OpenEI/PageDescription Local Option - Municipal Alternative Energy Revolving Loan Program: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Ohio  + , Local Loan Program  +
Place Ohio: Energy Resources +
Categories Financial Incentive Programs , Incentive with Authorities
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.
22:00:07, 17 August 2018  +
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