Energy Revolving Loan Fund - Passive Solar (Michigan)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Michigan

Name Energy Revolving Loan Fund - Passive Solar
Incentive Type State Loan Program
Applicable Sector Agricultural, Institutional, Nonprofit
Eligible Technologies Passive Solar Space Heat
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount $5,000-$15,000










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




Maximum Incentive $15,000









Terms 4% fixed interest rate

Interest-only payments for first 6 months
6-year maximum

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 2013-01-11



References DSIRE[1]


Summary

In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Passive Solar Systems portion of the loan program is available to family farms and non-profits located in Michigan. Under this program, a passive solar system is defined as "a structure which can extend the growing season to ten to twelve months without additional supplemental heat or light."

Applicants are evaluated based on minimum credit standards and face-to-face interviews to determine knowledge of and interest in passive solar systems. Loan recipients will be required to attend a passive solar system workshop and are required to submit quarterly reports related to production. Program funds cannot be used for any costs incurred before the date of the loan agreement.

Applications are available on the program web site.


Incentive Contact

Contact Name Terri Novak
Department Department of Energy, Labor and Economic Growth

Address 611 W. Ottawa Ave.

Place Lansing, Michigan
Zip/Postal Code 48909
Phone (517) 241-8526
Phone 2 (517) 241-6229



     
     

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

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


Authority 2: E.O. No. 2011-4
Date Effective 2011-04-24
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 (DSIRE)"