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Combined Heat and Power Partnership

Local Option - Financing Program for Renewable Energy and Energy Efficiency

Date Last Updated11/16/2012
Incentive TypeLoan
State/FederalNC
Incentive Administrator/Contact OfficeNorth Carolina - Local Government
Incentive Initiation Date8/26/2009
Incentive Size and Funding SourceThe 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 RecipientProject developers with projects that are permanently affixed to residential, commercial or other real property.
Eligible FuelDoes Not Specify
Eligible Project Size (MW)Does Not Specify
Minimum Efficiency Required (%)Does Not Specify
Other Incentive DetailsA 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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