Last DSIRE Review: 04/22/2009
Program Overview:
| State: |
Oregon |
| Incentive Type: |
State Loan Program |
| Eligible Efficiency Technologies: |
Water Heaters, Lighting, Chillers , Boilers, Heat pumps, Air conditioners, CHP/Cogeneration, Heat recovery, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Motors |
| Eligible Renewable/Other Technologies: |
Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, Municipal Solid Waste, CHP/Cogeneration, Small Hydroelectric, Renewable Fuels |
| Applicable Sectors: |
Commercial, Industrial, Residential, Nonprofit, Schools, Local Government, State Government, Tribal Government, Fed. Government, Rural Electric Cooperative |
| Amount: | Typically $20,000 - $20 million | | Maximum Incentive: | None | | Terms: | Terms vary, generally in the range of 5 to 15 years. The loan term must be within the expected life of the project. |
| Web Site: |
http://egov.oregon.gov/ENERGY/LOANS/selphm.shtml
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Date Effective: 01/01/2006 |
Summary:
The Oregon Small-Scale Energy Loan Program (SELP) is administered by the Oregon Department of Energy and was created in 1981 after voters approved a constitutional amendment authorizing the sale of bonds to finance small-scale, local energy projects. The sale of bonds is made on a periodic basis and, occasionally, 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;
- Use alternative fuels; and
- Reduce energy consumption during construction or operation of another facility
Loans are available to individuals, businesses, schools, cities, counties, special districts, state and federal agencies, public corporations, cooperatives, tribes, and non-profits. In June 2005, the passage of Senate Bill 735 expanded the program to allow projects proposed by intergovernmental entities as well as projects located partially outside of Oregon that provide substantial benefits within Oregon.
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. Businesses which qualify for SELP often qualify for the Business Energy Tax Credit (BETC).
As of the end of December 2008, 818 loan applications have been approved, committing approximately $442 million.
Applications are available on the program web site. |
