Miami-Dade County - Renovation for Energy Efficiency Loan (REEL) Program (Florida)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Florida

Name Miami-Dade County - Renovation for Energy Efficiency Loan (REEL) Program
Incentive Type Local Loan Program
Applicable Sector Commercial, Industrial
Eligible Technologies Unspecified technologies
Active Incentive No

Implementing Sector Local
Energy Category Energy Efficiency Incentive Programs
Amount $50,000-100,000















Maximum Incentive $100,000




Program Budget $1,500,000




Terms Interest Rate: 2% more than prime rate

Term Length: 3 years
Equity Match: 10-20%

Program Administrator South Florida Regional Planning Council
Website http://www.sfrpc.com/REEL.htm
Date added to DSIRE 2010-10-29
Last DSIRE Review 2011-09-29



References DSIRE[1]


Summary

Miami-Dade County is collaborating with the South Florida Regional Planning Council to offer a $1.5 million revolving loan programs to any business committing to energy efficiency improvements in Miami-Dade County. Businesses must first send an authorization letter to Florida Power and Light Company (FPL) for an Energy Survey. The Energy Survey will identify baseline energy consumption and areas for energy efficiency improvements. Once the Energy Survey authorization has been sent to FPL, the applicant should send a loan application to sfadmin@sfrpc.com. All applications will be processed by the Loan Administration Board within 60 days. Loans must be repaid within 3 years and carry an interest rate 2% above the prime rate. Applicants must pay for 10-20% of the project costs with non-loan funds, and must have a credit score of 640 or higher. Applications and more information is available on the program web site.


Incentive Contact

Contact Name Cheryl Cook
Department South Florida Regional Planning Council
Division REEL Program





Phone 2 (954) 985-4416

Email cherylc@sfrpc.com
Website http://www.sfrpc.com/
Contact Name Bob Cambric
Department South Florida Regional Planning Council
Division REEL Program





Phone 2 (954) 985-4416

Email bcambric@sfrpc.com
Website http://www.sfrpc.com/
     


















  • 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)"