| Program | Alternate Energy Revolving Loan Program |
|---|---|
| Category | Financial Incentive |
| Implementing sector | State |
| Last Update | |
| State | Iowa |
| Administrator | Iowa Energy Center |
| Website | https://www.iowaeda.com/iowa-energy-office/alt-energy-loans/ |
| Budget | Revolving Fund |
| Start Date | |
| Technologies | Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Photovoltaics |
| Sectors | Residential |
The Alternate Energy Revolving Loan Program (AERLP), administered by the Iowa Energy Center, provides low-interest loans to individuals and organizations that seek to build renewable energy production facilities in Iowa.
Successful applicants receive a low-interest loan that consists of a combination of AERLP and lender-provided funds. The AERLP provides 50% of the total loan at 0% interest rate up to a maximum of $1,000,000. The remainder of the loan is provided by a lender at market rate.
Eligible Technologies
Eligible renewable energy technologies include solar, biomass, wind and small hydro.
Process
Funding decisions for for loans are made by the IEC board at least once per quarter.
The maximum loan term allowed for the AERLP funds is 20 years. 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.
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