Combined Heat and Power Partnership
Energy Efficiency Revolving Loan Fund (EE RLF)
| Date Last Updated | 11/16/2012 |
| Incentive Type | Loan |
| State/Federal | NJ |
| Incentive Administrator/Contact Office | New Jersey Economic Development Authority |
| Incentive Initiation Date | 3/1/2012 |
| Incentive Size and Funding Source | Financing, in the form of low-interest loans, can be used to support up to 80% of total eligible project costs, not to exceed $2.5 million or 100% of total eligible project costs from all public State funding sources. The EE RLF offers an interest rate that is tiered to amortization required by the project, ranging from 2-4%. EE RLF loans are subject to a minimum of $250,000. |
| Eligible Recipient | New Jersey-based commercial, institutional or industrial entities (including 501(c)(3) organizations) that have received an approved Energy Reduction Plan under the NJ Board of Public Utilities' Pay for Performance program. Also eligible are those entities participating in the NJ Board of Public Utilities' Large Energy Users Pilot Program or New Jersey's Clean Energy Program's stand-alone small scale CHP & Fuel Cells program offering incentives for up to 1.0 MW. |
| Eligible Fuel | Does Not Specify |
| Eligible Project Size (MW) | Program Dependent |
| Minimum Efficiency Required (%) | Program Dependent |
| Other Selected Eligibility Criteria | There is Minimum 1.1:1 Debt Service Coverage Ratio. Personal guarantees are required for any person or entity with 10% or more ownership in a project. Applicants must provide evidence of source of funds needed to complete a project. The BPU will take a lien on equipment to be financed, business assets and/or collateral. Business should create or maintain jobs in New Jersey. |
| Application Form(s) | Application Documents |
| Resource Website(s) |
http://www.njeda.com/web/Aspx_pg/Templates/ Npic_Text.aspx?Doc_Id=1465&menu id=1515&topid=722&levelid=6&midid=1357  |