Alternative Energy Revolving Loan Program
| Eligible States | MT |
| Type | Loan |
| Area of Interest | Renewable Energy |
| Description |
The Alternative Energy Revolving Loan Program, established by Montana Senate Bill 506, provides funding to install alternative energy systems for onsite use. The Department of Environmental Quality (DEQ) finances the program through collection of air quality violations monetary penalties. The maximum loan amount is $40,000 (depending on the project and funding availability) and the repayment period is 10 years. Interest rates are set annually and are fixed for the term of the loan. The interest rate for 2012 is 3.75 percent. |
| Eligible Organizations | Educational Institution, Local Government, Nonprofit, Residential, Small Business |
| How to Apply | DEQ will accept and process loan applications throughout the year. Approved projects will be ranked according to the criteria established in the legislations, which includes items such as system reliability, return on investment, and avoided fossil fuel consumption. Once a loan is approved, the applicant will be informed as to whether funds are currently available, and if not, when new funds are anticipated. |
| For More Information | http://www.deq.mt.gov/Energy/Renewable/altenergyloan.mcpx  |
| Primary Contact | Kathi Montgomery Montana Department of Environmental Quality Planning, Prevention, and Assistance 1100 North Last Chance Gulch P.O. Box 200902 Helena, MT 59620 (406) 841-5243 kmontgomery@mt.gov |