Higher Education Energy Loan Program (Oklahoma)
Last modified on December 17, 2014.
Financial Incentive Program
|Name||Higher Education Energy Loan Program|
|Incentive Type||State Loan Program|
|Applicable Sector||Schools, Institutions of Higher Education|
|Eligible Technologies||Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Yes; specific technologies not identified|
|Energy Category||Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs|
|Funding Source|| Oil overcharge restitution funds
|Maximum Incentive|| 300,000
|Program Budget|| $1,100,000
|Terms||1 to 6 year terms at 3% interest rate|
|Program Administrator||Oklahoma Department of Commerce|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
The Oklahoma Department of Commerce has established a loan/lease fund for institutes of higher education to improve energy efficiency. Two categories of funding are available for schools to reduce energy consumption. Category I funding will pay for technical and energy audits, the development of Energy Management Plans, and any professional services that contribute to the planning and design of energy reduction systems and measures. Category II funding covers the actual acquisition and installation of energy conservation measures.
All projects must be shown to reduce energy consumption, have a positive return on investment, and be able to be repaid within 6 years. Loan funds may not be used to pay off an existing loan, but may be used to leverage additional third-party financing of energy efficiency projects. An eligible institute of higher education may only have one active loan at a time.
|Contact Name||Kylah McNabb|
|Department||Oklahoma Department of Commerce|
|Division||State Energy Office|
|Address||900 N. Stiles|
|Place||Oklahoma City, Oklahoma|
|Phone|| (405) 815-5249
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.
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