Solar & Battery Regulation & Incentive Programs

Energy Loan Guarantee Program

Program Overview

Category:: Financial Incentive
Program Type:: Loan Program
Implementing Sector:: State
State:: Vermont
Eligible Storage Technologies:: Equipment Insulation, Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Heat recovery, Steam-system upgrades, Compressed air, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Siding, Roofs, Reflective Roofs, LED Lighting
Website:: http://www.veda.org/financing-options/vermont-commercial-financing/energy-loan-guarantee-program/
Maximum Loan:: Guarantee of 75% of the lender loan, not to exceed $250,000
Administrator:: Vermont Economic Development Authority (VEDA)
Applicable Sectors:: Commercial, Local Government, Nonprofit
Last Updated:: 10/28/2016

Summary

The Energy Loan Guarantee Program (ELGP), created by Act 87 in 2013, is administered by the Vermont Economic Development Authority. The ELGP provides loan guarantees to financial institutions for loans made to businesses for energy efficiency improvements.

VEDA guarantees a maximum of 75% of the value of the loan, not to exceed $250,000. There is no limit on the value of the lender's loan. There is a 3% guarantee fee, based on the guaranteed amount of the lender's loan.

Authorities

Name	Enacted Date	Effective Date	Expired Date
10 V.S.A. § 280cc to § 280dd	06/17/2013	06/17/2013