|Solar Energy Loan Program
|Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP)
|Solar Water Heat, Solar Thermal Electric, Solar Photovoltaics
The Solar Energy Program (SEP) program offers financial assistance as loans to eligible applicants to promote manufacturing, research and development, and generation of solar energy in the state. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under direction of the Commonwealth Financing Authority (CFA).
EligibilityThe following applicants are eligible for loans:
The program has a 25% cost share requirement. The applicant must provide evidence of a commitment of matching investment of at least $1 for every $3 of program funds awarded by the CFA.
The loan amount can be used for following measures:
Expenses related to fees for securing other financing, interest on borrowed funds, refinancing of existing debt, and cost incurred prior to the approval of CFA financing are not eligible for funding.
To apply for funding, interested applicants can submit an online application available at the Department of Community and Economic Development website. Applications must be received at least 60 days prior to the next scheduled CFA meeting at which Solar Energy Program applications will be considered. The application review schedule is available on the CFA website.