California Energy Commission Announces Loans for Energy Saving Projects
The California Energy Commission announces that special districts, cities, counties, and public schools in California are eligible to apply for over $20 million in loan funds for energy cost saving projects.
The funds, available from the Energy Conservation Assistance Account (ECAA), may be used in conjunction with other funding, rebates and incentives. The Energy Commission is accepting loan applications for the fixed rate, no fees loans of up to $3 million on a first-come, first-served basis.
Repayment of the loans is based on the estimated annual savings of the projects and is expected to be revenue neutral. The funds are available on a reimbursement basis and receipts and invoices for incurred payments must be submitted along with proof of payment of expenses. Loans for the energy projects must be repaid from energy costs savings within 15 years. Payback is calculated by dividing the dollar amount of the loan by the anticipated energy cost savings.
The types of energy saving projects that can be financed with the loans include: water and wastewater treatment equipment; lighting systems, street lights, LED traffic signals and heating, ventilation and air conditioning equipment.
For an application and more information visit http://www.energy.ca.gov/efficiency/financing/