Last DSIRE Review: 12/12/2012
||State Loan Program
|Eligible Efficiency Technologies:
||Clothes Washers, Equipment Insulation, Water Heaters, Lighting, Lighting Controls/Sensors, Chillers , Furnaces , Boilers, Heat pumps, Central Air conditioners, CHP/Cogeneration, Heat recovery, Steam-system upgrades, Compressed air, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Motors, Motor VFDs, Comprehensive Measures/Whole Building, Custom/Others pending approval, Unspecified Technologies, Energy Savings Performance Contracts
|Eligible Renewable/Other Technologies:
||Solar Water Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Anaerobic Digestion
|Amount:||Minimum loan: $50,000|
|Maximum Incentive:||Not specified|
|Terms:||Payback: 15 years|
|Funding Source:||The American Recovery and Reinvestment Act (ARRA), Build America Bonds (BAB) or traditional tax-exempt bonds|
Through the Green Bank of Kentucky, state agencies may be eligible for three separate energy loan products, depending on the proposed energy efficiency improvements.* Prior to applying, all agencies are required to submit an energy survey (available on the Green Bank's web site). The Green Bank will then forward the loan application packet (including information regarding the additional required documentation) for the agency to complete and submit. All application letters must be signed by the agency head.
Initial funding for the Green Bank of Kentucky provided by the American Recovery and Reinvestment Act (ARRA) through the Kentucky State Energy Program.
eSELF Revolving Loan
This loan is for energy efficiency projects costing between $50,000 and $225,000 that will result in at least a 20% energy reduction. Improvement projects funded under this loan will managed directly by the state agency.
Hybrid Revolving Loan
This loan is for energy efficiency projects costing between $50,000 and $600,000. An energy audit or engineering analysis is required as well as a design and development package. The state agency is responsible for procuring materials and service. The cost of the audit/engineering analysis may be rolled into the loan.
ESPC Revolving Loan
This loan is for comprehensive energy efficiency projects costing more than $600,000 and that utilize an Energy Savings Performance Company (ESPC) or Energy Service Company (ESCO). A detailed industrial energy audits as well as cost-benefit analysis is required. The cost of the audit/engineering analysis may be rolled into the loan.
*Technically, renewable energy technologies would be eligible for funding under this program, as long as the payback period is 15 years or less. In Kentucky, where electricity rates are approximately $0.06 per kilowatt hour, this is very difficult to achieve.