Solar & Battery Regulation & Incentive Programs

State Energy Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
State
State:
Oregon
Eligible Storage Technologies:
Solar - Passive, Solar Water Heat, Solar Space Heat, Geothermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All), Biomass, Geothermal Heat Pumps, Combined Heat & Power, Water Heaters, Lighting, Chillers, Boilers, Heat pumps, Air conditioners, Heat recovery, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Motors, Comprehensive Measures/Whole Building, Custom/Others pending approval, Other EE, Wind (Small), Hydroelectric (Small), Geothermal Direct-Use
Website:
http://www.oregon.gov/energy/At-Work/Pages/Energy-Loan-Program.aspx
Maximum Loan:
None
Loan Term:
Terms vary, generally in the range of 5 to 15 years. The loan term must be within the expected life of the project.
Administrator:
Oregon Department of Energy
Applicable Sectors:
Commercial, Industrial, Local Government, Nonprofit, Residential, Schools, State Government, Federal Government, Tribal Government
Last Updated:
03/15/2017

Summary

The Oregon State Energy Loan Program (SELP) was created in 1981 after voters approved a constitutional amendment authorizing the sale of bonds to finance small-scale, local energy projects and is administered by the Oregon Department of Energy. The sale of bonds is made on a periodic basis and, occasionally, may be done to accommodate a particularly large loan request.

The program offers low-interest loans for projects that:

  • Save energy;
  • Produce energy from renewable resources such as water, wind, geothermal, solar, biomass, waste materials or waste heat;
  • Use recycled materials to create products; or
  • Use alternative fuels.

Loans are available to individuals, businesses, schools, cities, counties, special districts, state and federal agencies, public corporations, cooperatives, tribes, and non-profits. School districts receive special rates. 

Though there is no legal maximum loan, the size of loans generally ranges from $20,000 to $20 million. Terms vary, but are generally set to match the term of the bonds that funded the loans. Loan terms may not exceed project life. Loan fees are set based on the size of the loan and range from 1 - 2% of the loan  amount requested.

Applications are available on the program web site.


Authorities

NameEnacted DateEffective DateExpired Date
OAR 330-110-0005 et seq.5/20/19805/20/1980
ORS § 470.050 et seq.06/14/200501/01/2006