Combined Heat and Power Partnership
Alternate Energy Revolving Loan Program
|Date Last Updated||11/16/2012|
|Incentive Administrator/Contact Office||Iowa Energy Center|
|Incentive Initiation Date||1/1/1996|
|Incentive Size and Funding Source||The Alternate Energy Revolving Loan Program (AERLP) is administered by the Iowa Energy Center and funded by the state's investor-owned utilities. The AERLP provides 50% of the total loan at 0% interest, up to a maximum of $1 million. Non-rate regulated electric and gas utilities are limited to 1 loan every 2 years with a maximum loan of $500,000. The remainder of the loan is provided by a lender at market rate. The maximum loan term allowed for the AERLP funds is 20 years.|
As of May 2012, the AERLP has reportedly provided loans of more than $28.2 million in support of 193 renewable energy projects. As the loans are paid back to the Iowa Energy Center, those funds are cycled back into the program and made available to new applicants.
|Eligible Recipient||The AERLP provides loan funds to individuals and organizations that seek to build commercial, industrial, residential, or utility renewable energy production facilities in Iowa. Loans from the AERLP were formerly not available to non-rate regulated utilities; however starting in May 2009 these entities were allowed to participate.|
|Eligible Fuel||Landfill Gas; Woody Biomass; Biogas; Other|
|Eligible Project Size (MW)||Does Not Specify|
|Minimum Efficiency Required (%)||Does Not Specify|
|Application Form(s)||Application Documents|
|Other Incentive Details||Technical applications for projects with a total financed capital cost of $50,000 or less are reviewed on a continuous basis. Higher cost project are reviewed on a quarterly basis according to the following deadlines: Oct. 31, Jan. 31, Apr. 30 and July 31.|
The loan fund was initially capitalized with a total of $5.9 million over a 3-year period of collections from the state's investor-owned utilities. In May 2009 an additional $5 million from the sale of state bonds was deposited into the fund. In April 2010 a further appropriation of $5 million from the sale of state bonds was deposited into the fund.