The Washington State Housing Finance Commission (WSHFC) has established a Sustainable Energy Program to offer low-cost financing for new green construction, energy efficiency upgrades, and renewable energy projects. WSHFC offers low-interest financing for projects up to $1 million out of its Sustainable Energy Trust (SET), with a preferred minimum loan of $50,000. The SET funds are intended as a source of capital for organizations or projects that would not typically qualify for other sources of capital, and are not available to individuals.
Energy efficiency projects funded by the SET must achieve a minimum of 10% efficiency gains over existing conditions or the required energy code for new construction. Interest rates vary based upon the level of expected efficiency achieved by the project, and typically range between 2-4%. Efficiency projects must either complete an energy audit or provide post-installation performance reporting. Renewable energy projects are evaluated on a case-by-case basis.
Projects are encouraged to combine utility rebates, grants, and other sources of funding with SET-funded loans. For projects costing over $1 million, WSHFC may be able to assist project developers in identifying additional financing options.
For specific offerings, rates, and project qualifications, contact the Sustainable Energy Program.