Energy Efficiency Loans for State Government Agencies (Kentucky)

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Summary

Last modified on December 17, 2014.

Financial Incentive Program

Place Kentucky

Name Energy Efficiency Loans for State Government Agencies
Incentive Type State Loan Program
Applicable Sector State Government
Eligible Technologies Clothes Washers/Dryers, Equipment Insulation, Water Heaters, Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Heat recovery, Steam-system upgrades, Compressed air, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Motors, Motor-ASDs/VSDs, Comprehensive Measures/Whole Building, Custom/Others pending approval, CHP/Cogeneration, Solar Water Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Anaerobic Digestion, Yes; specific technologies not identified
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Minimum loan: 50,000










Funding Source The American Recovery and Reinvestment Act (ARRA), Build America Bonds (BAB) or traditional tax-exempt bonds




Maximum Incentive Not specified




Program Budget $14,170,579




Terms Payback: 15 years
Program Administrator Finance and Administration Cabinet
Website http://finance.ky.gov/initiatives/greenbank/Pages/default.aspx
Date added to DSIRE 2010-02-16
Last DSIRE Review 2014-07-24



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


Summary

Through the Green Bank of Kentucky, executive branch state agencies may be eligible for three separate energy loan products, depending on the proposed energy conservation improvements.* Prior to applying, all agencies are required to submit an energy survey (available on the Green Bank's web site). The Green Bank will then forward the loan application packet (including information regarding the additional required documentation) for the agency to complete and submit. All application letters must be signed by the agency head.

Initial funding for the Green Bank of Kentucky provided by the American Recovery and Reinvestment Act (ARRA) through the Kentucky State Energy Program.

eSELF Revolving Loan
This loan is for energy conservation projects costing between $50,000 and $225,000 that will result in at least a 20% energy reduction. Improvement projects funded under this loan will managed directly by the state agency.

Hybrid Revolving Loan
This loan is for energy conservation projects costing between $50,000 and $600,000. An energy audit or engineering analysis is required as well as a design and development package. The state agency is responsible for procuring materials and service. The cost of the audit/engineering analysis may be rolled into the loan.

ESPC Revolving Loan
This loan is for comprehensive energy conservation projects costing more than $600,000 and that utilize an Energy Savings Performance Company (ESPC) or Energy Service Company (ESCO). A detailed industrial energy audits as well as cost-benefit analysis is required. The cost of the audit/engineering analysis may be rolled into the loan.

*Technically, renewable energy technologies would be eligible for funding under this program, as long as the payback period is 15 years or less. In Kentucky, where electricity rates are approximately $0.06 per kilowatt hour, this is very difficult to achieve.


Incentive Contact

Contact Name Dick Mink
Department Division of Facility Finance and Administration Cabinet

Address 403 Wapping Street

Place Frankfort, Kentucky
Zip/Postal Code 40601
Phone (502) 564-5850
Phone 2 (502) 330-7094

Email dick.mink@ky.gov
Website http://finance.ky.gov/Pages/default.aspx
     
     

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

Authority 1: KRS § 56.770-784





















  • 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"