Revolving Loan Program (Nevada)

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search

Summary

Last modified on December 17, 2014.

Financial Incentive Program

Place Nevada

Name Revolving Loan Program
Incentive Type State Loan Program
Applicable Sector Commercial, Industrial, Local Government, Construction, State Government, Installer/Contractor, Fed. Government
Eligible Technologies Solar Water Heat, Solar Thermal Electric, Photovoltaics, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, Small Hydroelectric, Yes; specific technologies not identified
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Minimum Loan: 100,000










Funding Source The American Reinvestment and Recovery Act of 2009




Maximum Incentive Maximum Loan: 1 million









Terms Loan term will not exceed 15 years

Interest rate of 3%. A lower interest may be offered to public entities if the project is located in a disadvantaged community.

Program Administrator Nevada State Office of Energy
Website http://energy.nv.gov/Programs/Revolving_Loans_for_Renewable_Energy/
Date added to DSIRE 2012-03-15
Last DSIRE Review 2014-09-17



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


Summary

Note: The Governor's Office of Energy (GOE) issues Request for Applications to fund renewable energy, energy efficiency, and energy conservation projects from the revolving loan funds. Call the GOE at (775) 687-1850 for current information regarding '''applications and loan availability.


Assembly Bill 522 of 2009 established a fund for renewable energy, energy efficiency and energy conservation loans. According to statute, all repayments on loans, and other income derived from loans, must be added back into the fund to be redistributed as additional loans. This type of loan program structure is commonly referred to as a "revolving" loan.


Phase One of this program provided over $8 million in short-term low-cost loans to renewable energy projects. These loans served as bridge financing to cover various project start-up costs. The program is now in Phase Two, which is awarding loans to the following types of projects:


  • Construction or expansion of a renewable energy system
  • Construction of an energy conservation project
  • Construction of an energy efficiency project
  • Manufacturing of components for renewable energy systems

Loans may not be used for research or planning, refinancing, the purchase of land or water, or operations and maintenance. Complete program requirements and application forms are available at the web site above.


Incentive Contact

Contact Name Suzanne Linfante
Department Nevada Governor's Office of Energy

Address 755 North Roop Street, Suite 202

Place Carson City, Nevada
Zip/Postal Code 89701
Phone (775) 687-1850 Ext:7309


Email slinfante@energy.nv.gov

     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: NRS 701.545, et seq.





















  • 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"