Solar & Battery Regulation & Incentive Programs

Michigan Saves - Business Energy Financing

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Non-Profit
State:
Michigan
Eligible Storage Technologies:
Solar Water Heat, Solar Thermal Electric, Geothermal Heat Pumps, Equipment Insulation, Water Heaters, Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Steam-system upgrades, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Siding, Roofs, Custom/Others pending approval, Yes; specific technologies not identified, Food Service Equipment, LED Lighting, Tankless Water Heater, Commercial Refrigeration Equipment
Website:
http://michigansaves.org/business#primary
Maximum Loan:
Commercial businesses and nonprofits: $250,000 (larger loan amounts will be considered)
Public sector: $1,000,000
Multifamily: $1,500,000
Loan Term:
Up to 60 months
Maximum APR: 5.9%
No prepayment penalty
Administrator:
Michigan Saves
Applicable Sectors:
Commercial, Local Government, Nonprofit, Multifamily Residential
Last Updated:
03/24/2016
Funding Source
Michigan Public Service Commission

Eligibility Criteria

EligibilitySectorsTechnologies
max $999999.9999
Commercial
Nonprofit
Solar Water Heat
Solar Thermal Electric
Geothermal Heat Pumps
Equipment Insulation
Water Heaters
Lighting
Lighting Controls/Sensors
Chillers
Furnaces
Boilers
Heat pumps
Air conditioners
Steam-system upgrades
Programmable Thermostats
Caulking/Weather-stripping
Duct/Air sealing
Building Insulation
Windows
Siding
Roofs
Other EE
Yes; specific technologies not identified
Food Service Equipment
LED Lighting
Tankless Water Heater
Commercial Refrigeration Equipment

Summary

Michigan Saves is a non-profit that offers financing options for energy efficiency improvements throughout Michigan. The Business Energy Financing Program was started with seed funding from the Michigan Public Service Commission. Financing for businesses and nonprofits throughout the state of Michigan are now available. The program was originally available only to small commercial buildings within the City of Detroit owned by non-profits or local businesses and has expanded to public sector, multifamily, and commercial buildings statewide. 

Pre-qualification application materials are available on the program web site.