Energy Revolving Loan Fund - Clean Energy Advanced Manufacturing (Michigan)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Michigan

Name Energy Revolving Loan Fund - Clean Energy Advanced Manufacturing
Incentive Type Industry Recruitment/Support
Applicable Sector Commercial, Industrial
Eligible Technologies Photovoltaics, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, Yes; specific technologies not identified
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs











Funding Source American Recovery and Reinvestment Act of 2009 (ARRA)




Maximum Incentive 2,000,000









Terms 6% fixed interest rate

Maximum of 6 years

Program Administrator Michigan Department of Career Development
Website http://www.michigan.gov/mdcd/0,4611,7-122-25676-217576--,00.html
Date added to DSIRE 2011-03-03
Last DSIRE Review 2014-12-08



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


Summary

Note: This program is not currently accepting applications. Check the program web site for information regarding future solicitations.


In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Clean Energy Advanced Manufacturing portion of this program is available to small businesses located in Michigan who are seeking to invest and diversify in clean energy sectors, manufacturing renewable energy and energy efficiency systems and components.

Applicants are evaluated based on minimum credit standards and face-to-face interviews. Loan recipients are required to submit quarterly reports related to energy use, payback, and other economic information. Program funds cannot be used for any systems installed before the date of the loan agreement. In order to qualify for the loans, the applicant must have 500 employees or less.


Program information and applications are available on the program web site.


Incentive Contact

Contact Name Robert Jackson
Department Michigan Energy Office

Address 611 W. Ottawa Ave.

Place Lansing, Michigan
Zip/Postal Code 48909
Phone (517) 373-2731


Email jacksonr16@michigan.org

     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: MCL § 460.911 et seq.
Date Effective 2011-01-08
Date Enacted 2010-01-08


Authority 2: E.O No. 2011-4
Date Effective 2011-04-23
Date Enacted 2011-02-23


















  • 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"