Solar & Battery Regulation & Incentive Programs

IADG Energy Bank Revolving Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
State
State:
Iowa
Eligible Storage Technologies:
Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Photovoltaics, Wind (All), Biomass, Hydroelectric, Geothermal Heat Pumps, Combined Heat & Power, Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Building Insulation, Windows, Doors, Processing and Manufacturing Equipment, Other EE, Wind (Small), Hydroelectric (Small), LED Lighting
Website:
http://www.iadg.com/services/financial-assistance/iadg-energy-bank.aspx
Maximum Loan:
$300,000
Loan Term:
1% or higher interest rate
Origination fee: 1% of loan amount which can be financed
Servicing Fee: No servicing fee, electronic payments required
Term: Up to 10 years
Administrator:
Iowa Economic Development Authority and Iowa Area Development Group
Applicable Sectors:
Commercial, Industrial
Last Updated:
02/10/2016
Funding Source
American Recovery and Reinvestment Act (ARRA)

Summary

The Iowa Economic Development Authority in partnership with the Iowa Area Development Group (IADG) is offering Iowa businesses and industries a low-interest financing option for energy efficiency improvements, renewable energy projects, energy management, and implementation plans. The establishment of the IADG Energy Bank Revolving Loan Fund is intended to provide an ongoing source of low interest financing for the implementation of cost-effective projects that will save energy and money, improve facilities and processes, and enhance job creation and profitability.