Iowa Energy Bank (Iowa)
Last modified on February 12, 2015.
Financial Incentive Program
The Iowa Energy Bank offers Iowa's public facilities, schools, area education agencies, colleges, universities, hospitals and local governments a 1% financing option for the implementation of renewable energy and energy efficiency projects. Eligible applicants need no upfront capital and loans are repaid using the energy bill savings. In order to get started, applicants complete a pre-application and provide an up-to-date energy study. Additional terms of the loan include a 2% origination fee, a 0.25% servicing fee, and a 15-year repayment period.
The Iowa Energy Bank program is actively marketed to eligible entities and has resulted in over $400 million in energy efficiency improvements. Program administration was moved to the Iowa Department of Administrative Services in 2011.
|Contact Name||Paritosh Kasotia|
|Contact Name||Bruce Nuzum|
|Department||Iowa Area Development Group|
|Address||2700 Westown Pkwy|
|Address 2||Suite 425|
|Place||West Des Moines, Iowa|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Iowa Code § 473.19 et seq.|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.