| Program | VirginiaSAVES Green Community Loan Program |
|---|---|
| Category | Financial Incentive |
| Implementing sector | State |
| Last Update | |
| State | Virginia |
| Website | http://www.vasavesgcp.com/ |
| Budget | $20 million (2015) |
| Start Date | |
| Technologies | Solar - Passive, Solar Water Heat, Solar Photovoltaics |
The VirginiaSAVES Green Community Program provides low cost financing to private commercial and industrial, non-profits, and local governments to fund a wide range of energy efficiency and renewable energy projects in the State. The program works with third-party funding sources to provide financing for projects. Qualified Energy Conservation Bonds (QECB) are issued on a conduit basis by the Virginia Small Business Finance Authority for private borrowers and the Virginia Resource Authority for public borrowers. The program is administered by CleanSource Capital, LLC under the guidance of Virginia Department of Mines, Minerals, and Energy (DMME).
Interested applicants must submit a summary worksheet that describes the project, including measures being funded, vendors involved, and energy assessment. The program administrator will approve the application after ensuring that the proposed measures constitute “qualified conservation purposes” within the QECB regulation and meet other project guidelines. After meeting the eligibility requirements, the borrower can submit a formal application along with an application fee and negotiate a financing term sheet. Please contact the program manager for more information.
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