Alternate Energy Revolving Loan Program

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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