Renewable Energy Facilities Revolving Loan Fund (Delaware)
Last modified on February 12, 2015.
|Applies to States or Provinces||Delaware|
|Name||Renewable Energy Facilities Revolving Loan Fund (Delaware)|
|Policy Category||Financial Incentive|
|Policy Type||Loan Program|
|Affected Technologies||Biomass/Biogas, Concentrating Solar Power, Fuel Cells, Geothermal Electric, Solar Photovoltaics, Wind energy|
|Funding Source||U.S. Department of Commerce, Delaware Strategic Fund|
|Program Administrator||Delaware Economic Development Office|
Renewable Energy Facilities Revolving Loan Fund provides loans at market to below-market interest rates to businesses that cannot otherwise obtain capital, provided that those businesses will create or retain jobs in industries that promote energy efficiency and/or recycling. The new fund was made possible with a $500,000 grant from the U.S. Department of Commerce, which was matched by the Delaware Strategic Fund.
Loan proceeds can only be used for the following: manufacturing, integrating, fabricating and assembling alternative energy equipment in the State of Delaware. Alternative energy equipment is defined as wind, solar, geothermal, fuel cells, and biomass.
|Contact Name||Bernice Whaley|
|Department||Delaware Economic Development Office|