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Incentives/Policies for Renewables & Efficiency

Printable Version
Green Energy Loans   

Last DSIRE Review: 10/15/2014
Program Overview:
State: Illinois
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Lighting, Processing and Manufacturing Equipment, Comprehensive Measures/Whole Building, Custom/Others pending approval, Whole House Fans, Other Energy Efficiency Equipment/Upgrades
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Wind
Applicable Sectors: Commercial, Industrial, Nonprofit, Local Government, Agricultural
Amount:Up to $10 million
Maximum Incentive:Rate reduction for up to 5 years of the loan
Terms:Rate reduction available during first 2 years of the bank loan, with possible three additional year extension
Start Date:06/2008
Expiration Date:None
Web Site:

Note: The Green Energy Loans Program does not currently have information available online, however, the program is still active and accepting applications. 

Illinois business owners, non-profit organizations, and local governments seeking loans for certain energy efficiency and renewable energy upgrades may apply for a rate reduction, under the Green Energy Loan program through the Illinois State Treasurer's Office, in partnership with eligible banks in the state (loan seekers are encouraged to verify if the eligible banks are actively participating in the program). Loan amounts are up to $10 million.

To qualify, the project must be located in Illinois and meet one of the following four criteria:

1. Participation in a state or utility administered efficiency program (ComEd, Ameren, or Dept of Commerce and Economic Opportunity); or

2. Have a contract with an Energy Service Company (commonly referred to as ESCO); or

3. Have a LEED Certified Professional working on the project with the intent to pursue LEED Certification; or

4. Have a plan to install renewable energy system.

The first step is to apply for and receive a loan from a participating, eligible bank for a comprehensive energy efficiency project and/or renewable energy system. After receiving approval, the participating lending bank applies for the rate reduction from the Illinois State Treasurer's Office, using the Green Energy Loan application. If approved, the Treasurer's Office will then deposit state fund in the bank, and the bank will pass along the rate reduction. The actual rate reduction varies depending on the bank. Interest rates are updated daily on the Treasurer's web site.

  Business Invest Green Energy Information
Illinois State Treasurer's Office
Phone: (312) 814-1700
Web Site:
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2014 - 2015 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.