Revolving Loan Program (Nevada)
Last modified on December 17, 2014.
Financial Incentive Program
|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|
|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|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
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.
|Contact Name||Suzanne Linfante|
|Department||Nevada Governor's Office of Energy|
|Address||755 North Roop Street, Suite 202|
|Place||Carson City, Nevada|
|Phone||(775) 687-1850 Ext:7309|
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.