IADG Energy Bank Revolving Loan Program (Iowa)

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Summary

Last modified on December 17, 2014.

Financial Incentive Program

Place Iowa

Name IADG Energy Bank Revolving Loan Program
Incentive Type State Loan Program
Applicable Sector Commercial, Industrial
Eligible Technologies Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Building Insulation, Windows, Doors, Processing and Manufacturing Equipment, CHP/Cogeneration, Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Photovoltaics, Wind, Biomass, Hydroelectric, Geothermal Heat Pumps, CHP/Cogeneration, Small Hydroelectric, LED Lighting
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount 50,000-500,000










Funding Source American Recovery and Reinvestment Act (ARRA)




Maximum Incentive 500,000









Terms 1% or higher interest rate

Origination fee: 1% of loan amount which can be financed
Servicing Fee: No servicing fee, electronic payments required
Term: Up to 10 years
Term: Up to 10 years

Program Administrator Iowa Economic Development Authority and Iowa Area Development Group
Website http://www.iadg.com/services/financial-assistance/iadg-energy-bank.aspx
Date added to DSIRE 2013-04-26
Last DSIRE Review 2014-08-18



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


Summary

The Iowa Economic Development Authority in partnership with the Iowa Area Development Group (IADG) is offering Iowa businesses and industries a low-interest financing option for energy efficiency improvements, renewable energy projects, energy management, and implementation plans. The establishment of the IADG Energy Bank Revolving Loan Fund is intended to provide an ongoing source of low interest financing for the implementation of cost-effective projects that will save energy and money, improve facilities and processes, and enhance job creation and profitability.


Incentive Contact

Contact Name Bruce Nuzum
Department Iowa Area Development Group

Address 2700 Westown Pkwy
Address 2 Suite 425
Place West Des Moines, Iowa
Zip/Postal Code 50266
Phone (515) 223-4817


Email bnuzum@iadg.com
Website http://www.iadg.com/services/financial-assistance/iadg-energy-bank.aspx
     
     


  • 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"