Town of Carrboro - Worthwhile Investments Save Energy (WISE) Homes and Buildings Program (North Carolina)

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Summary

Last modified on December 17, 2014.

Financial Incentive Program

Place North Carolina

Name Town of Carrboro - Worthwhile Investments Save Energy (WISE) Homes and Buildings Program
Incentive Type Local Loan Program
Applicable Sector Commercial, Nonprofit
Eligible Technologies Water Heaters, Lighting, Lighting Controls/Sensors, Heat pumps, Central Air conditioners, Programmable Thermostats, Building Insulation, Motors, Motor-ASDs/VSDs, Custom/Others pending approval, Solar Water Heat, Photovoltaics
Active Incentive Yes

Implementing Sector Local
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount 1,500 loan minimum










Funding Source American Recovery and Reinvestment Act (ARRA) Better Buildings Program (through Southeast Energy Efficiency Alliance (SEEA)









Program Budget $55,000




Terms 3% interest for up to 10 years
Program Administrator Town of Carrboro
Website http://www.ci.carrboro.nc.us/ecd/EERLF.htm
Date added to DSIRE 2011-01-21
Last DSIRE Review 2012-08-09



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

The Town of Carrboro is providing loans to Carrboro businesses and non-profits with fewer than 50 employees to increase their energy efficiency. The current interest rate is 3% and the maximum loan term is 10 years. Loan applicants must give the town their previous 12 utility bills, and must agree to continue submitting their utility bills for 3 years after the work is complete so the town can measure the performance of the retrofits and the success of their program.

A wide variety of efficiency improvements are eligible for financing through this program. Participants are required to have an energy evaluation conducted by a program qualified assessor or contractor prior to submitting their loan application. The energy evaluation will identify the highest priority improvements, and the cost of the evaluation can be included in the loan amount. Solar hot water and photovoltaic (PV) installations are eligible for financing only if they are combined with energy efficiency improvements that are anticipated to yield 15% energy savings.

See website above for more information.


This Program is part of the U.S. Department of Energy's (DOE) Better Buildings Program. The DOE has awarded over $500 million in federal funds to more than 40 states, local governments, and organizations to administer local programs targeting a variety of building types. Combined, these local programs are expected to improve the efficiency of more than 170,000 buildings through 2013 and save up to $65 million in energy costs annually.


Incentive Contact

Contact Name James Harris
Department Town of Carrboro
Division Economic and Community Development
Address Town Hall
Address 2 301 W. Main Street
Place Carrboro, North Carolina
Zip/Postal Code 27510
Phone (919) 918-7319
Phone 2 (919) 918-7319

Email jharris@townofcarrboro.org
Website http://www.ci.carrboro.nc.us/ecd/
Contact Name Mark Kuykendall
Department Clean Energy Solutions





Phone (919) 918-7334


Email mkuykendall@cleanenergysol.com
Website http://cleanenergysol.com/
     


  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"