Combined Heat and Power Partnership
Local Option - Financing Program for Renewable Energy and Energy Efficiency
| Date Last Updated | 11/16/2012 |
| Incentive Type | Loan |
| State/Federal | NC |
| Incentive Administrator/Contact Office | North Carolina - Local Government |
| Incentive Initiation Date | 8/26/2009 |
| Incentive Size and Funding Source | The state of North Carolina authorizes cities and counties to establish revolving loan programs to finance renewable energy and energy efficiency projects. Cities and counties can also establish loan loss reserve funds to assist in the financing of eligible projects, or other types of finance programs. Cities and counties fund their loan programs through Energy Efficiency and Conservation Block Grants from the federal government and the city's or county's unrestricted revenue. The loan programs may not charge more than 8% interest, and loan terms are limited to 20 years. |
| Eligible Recipient | Project developers with projects that are permanently affixed to residential, commercial or other real property. |
| Eligible Fuel | Does Not Specify |
| Eligible Project Size (MW) | Does Not Specify |
| Minimum Efficiency Required (%) | Does Not Specify |
| Other Incentive Details | A revolving loan program generally refers to a loan fund in which the loan repayments and interest are fed back into the fund. In this way the loan can, in theory, continue indefinitely. Project developers should contact the appropriate local government to find out if it offers financing for renewable energy and/or energy efficiency projects through this option. |
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