Solar & Battery Regulation & Incentive Programs

MDA- Energy Efficiency Revolving Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
State
State:
Mississippi
Eligible Storage Technologies:
Refrigerators/Freezers, Lighting, Lighting Controls/Sensors, Furnaces, Boilers, Heat pumps, Air conditioners, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Custom/Others pending approval, Other EE
Website:
https://www.mississippi.org/advantages/incentives/
Maximum Loan:
$500,000
Loan Term:
2% below prime rate; 10-year repayment term
Administrator:
Mississippi Development Authority
Applicable Sectors:
Commercial, Industrial, Local Government, Schools, Federal Government
Last Updated:
08/04/2020
Funding Source
Oil overcharge restitution funds from the U.S. Department of Energy

Summary

Mississippi offers low-interest loans for  energy efficiency projects. Eligible projects include lighting retrofits and heating and cooling system upgrades. Eligible applicants include:
  • Corporations
  • Public school districts
  • Hospitals (public, private, and non-profit)
  • Institutions of higher learning
  • Sole proprietors and partnerships
  • National or regional headquarters operations

All projects must demonstrate that they will reduce a facility's energy costs. The interest rate is 2% below the prime rate, with a maximum loan term of 10 years. Loans range from $15,000 to $500,000. This program is supported by a revolving loan fund of $7 million, established through federal oil overcharge funds.
 
Applications are provided to interested parties by request. Contact the Mississippi Development Authority for more information.

Authorities

NameEnacted DateEffective DateExpired Date
Miss. Code § 57-39-3901/01/1989