State Energy Loan Program

Program State Energy Loan Program
Category Financial Incentive
Implementing sector State
Last Update
State Oregon
Administrator Oregon Department of Energy
Website http://www.oregon.gov/energy/At-Work/Pages/Energy-Loan-Program.aspx
Technologies Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Solar Photovoltaics
Sectors Residential

The Oregon State Energy Loan Program (SELP) was created in 1981 after voters approved a constitutional amendment authorizing the sale of bonds to finance small-scale, local energy projects and is administered by the Oregon Department of Energy. The sale of bonds is made on a periodic basis and, occasionally, may be done to accommodate a particularly large loan request.

The program offers low-interest loans for projects that:

  • Save energy;
  • Produce energy from renewable resources such as water, wind, geothermal, solar, biomass, waste materials or waste heat;
  • Use recycled materials to create products; or
  • Use alternative fuels.

Loans are available to individuals, businesses, schools, cities, counties, special districts, state and federal agencies, public corporations, cooperatives, tribes, and non-profits. School districts receive special rates. 

Though there is no legal maximum loan, the size of loans generally ranges from $20,000 to $20 million. Terms vary, but are generally set to match the term of the bonds that funded the loans. Loan terms may not exceed project life. Loan fees are set based on the size of the loan and range from 1 - 2% of the loan  amount requested.

Applications are available on the program web site.

Add new comment