Energy Independence Fund Grant and Loan Program (Wisconsin)
Last modified on May 24, 2011.
Financial Incentive Program
|Name||Energy Independence Fund Grant and Loan Program|
|Incentive Type||Industry Recruitment/Support|
|Applicable Sector||Commercial, Industrial, Institutional|
|Eligible Technologies||Solar Thermal Electric, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Geothermal Heat Pumps, Hydrogen, Anaerobic Digestion, Renewable Fuels, Renewable Substitutes for Petroleum-based Chemicals|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||Varies by project|
|Maximum Incentive||Not specified|
|Terms|| Grants: 50% cost-share required;|
Loans: 4% interest rate for up to 15 years, maximum of 25% of project cost
|Program Administrator||Office of Energy Independence|
Note: The application deadline for the first round of funding has expired. No allocated funding over previous two years (2009 or 2010) or in the future (2011 and beyond). After conversation with David Jenkins, deactivated incentive.
The Wisconsin Energy Independence Fund is a 10-year, $150 million initiative designed to support the development and commercialization of clean energy technologies in Wisconsin through grants and loans to businesses and researchers. A total of $15 million is expected to be awarded annually through three competitive application cycles. Typical awards will range from $100,000 to $500,000 per project, although no minimum or maximum amounts are specified. The fund is subject to legislative appropriations, so the availability of funds may change from year to year. The first round of funding opened April 2, 2008 with an application deadline of June 2, 2008. A total of $7.5 million in funding was awarded through the first round of funding, supporting an additional $60 million in additional investments.
Clean energy includes electrical, mechanical, or thermal energy produced from hydrogen, biomass, biogas, solar energy, geothermal energy, biofuels, wind energy, or hydroelectric power. Projects that propose the substitution of renewable chemicals for petroleum derived chemicals will be considered for funding as well. Three categories of projects will be funded through this initiative: research and development; commercialization or adoption; and supply chain development.
Grants: Research and development (R&D) projects are the only category of projects eligible for grant funding. All grants require at least a 50% cost-share and grant money must be spent in Wisconsin to the extent it is practical to do so. The cost share proportion may be met with in kind contributions of goods and services with a declarable market value. In order to be eligible for a grant R&D projects must meet the following criteria:
- Be based on viable science;
- Propose game-changing or transformational technology;
- Have a large market potential;
- Be aligned with state and regional strengths; and
- Are likely to be commercialized or manufactured in Wisconsin
Low-Interest Loans: Commercialization projects and supply-chain development projects are both eligible for 4% fixed rate loans with terms of up to 15 years. The term of the loan will vary according to the project and the how the money will be used. Loans may be used for construction and expansion projects; for the acquisition of land, buildings, equipment, and existing businesses; or as working capital. The loans are intended to be "gap financing" and will cover a maximum of 25% of the project cost. Eligibility criteria for each category are described below.
Commercialization or Adoption
- Technology should be supported by established science;
- Have a large market potential;
- Have growth estimates exceeding industry averages; and
- Have significant job creation potential
Supply Chain Development
- Should eliminate or reduce market barriers to clean energy technologies;
- Have a high market penetration potential; and
- Support clean energy sources with a competitive cost structure to existing non-clean energy source options
Applications under this program may only be submitted on-line. Interested parties should consult the program website for additional information on the application process, project evaluation criteria, and application workshops.
|Contact Name||David Jenkins|
|Department||Office of Energy Independence|
|Division||Commercialization and Marketing Development|
|Address||17 W. Main St., Suite 429|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.