City of Detroit - SmartBuildings Detroit Green Fund Loan (Michigan)

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Summary

Last modified on January 5, 2015.

Financial Incentive Program

Place Michigan

Name City of Detroit - SmartBuildings Detroit Green Fund Loan
Incentive Type Local Loan Program
Applicable Sector Commercial, Local Government, State Government, Multi-Family Residential, Institutional
Eligible Technologies Lighting, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Heat recovery, Steam-system upgrades, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Roofs, Custom/Others pending approval, Solar Water Heat, Photovoltaics, Wind, Hydroelectric, Geothermal Heat Pumps, Other Distributed Generation Technologies
Active Incentive Yes

Implementing Sector Local
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Between 50,000 and 150,000










Funding Source The American Reinvestment and Recovery Act (ARRA) of 2009; State Energy Program




Maximum Incentive 100,000









Terms A maximum fee of 1 percent of the loan amount or 500, whichever is greater, can also be charged, in addition to lenders out of pocket expenses. SmartBuildings Loan terms will be not to exceed 7 years. An initial interest rate of 2.99% which can increase to 5.99 % per annum over time.
Program Administrator The Economic Development Corporation
Website http://www.degc.org/businesses/smartbuildings-detroit
Date added to DSIRE 2011-10-26
Last DSIRE Review 2014-09-05



References DSIRE[1]


Summary

Note: '''''Check the program web site for information regarding solicitations.


The Economic Development Corporation (EDC) of the City of Detroit is offering financial assistance to commercial, institutional, and public buildings in Detroit that install energy efficiency and renewable energy technologies. Loans are available between $50,000 to $150,000. Eligible technologies include building insulation, glazing treatments, windows, doors, weatherstripping, insulated roofs, solar panels, geothermal installations, wind, hydroelectric, thermal load reduction, HVAC, interior and exterior lighting, electrical, humidification, and low flow water/plumbing projects. Other technologies may also be eligible for funding. In order to apply for financial assistance, contact the Program Manager listed below.


Applicants may use funding from this grant program in combination with the SmartBuildings Detroit Grant Program.


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 SmartBuildings Detroit
Department City of Detroit
Division Economic Development Corporation
Address 500 Griswold
Address 2 Suite 2200
Place Detroit, Michigan
Zip/Postal Code 48226
Phone (313) 963-2940


Email scottveldhuis@degc.org
Website http://www.degc.org
     
     


  • 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"