Business Energy Conservation Loan Program (Vermont)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Vermont

Name Business Energy Conservation Loan Program
Incentive Type State Loan Program
Applicable Sector Agricultural, Commercial, Industrial, Nonprofit
Eligible Technologies Agricultural Equipment, Boilers, Building Insulation, Caulking/Weather-stripping, Central Air conditioners, Chillers, Comprehensive Measures/Whole Building, Compressed air, Doors, Duct/Air sealing, Energy Mgmt. Systems/Building Controls, Equipment Insulation, Furnaces, Heat pumps, Heat recovery, Lighting, Lighting Controls/Sensors, Processing and Manufacturing Equipment, Programmable Thermostats, Roofs, Siding, Steam-system upgrades, Water Heaters, Windows
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs
Amount $5,000 to $150,000















Maximum Incentive $150,000




Program Budget $1 million




Terms 5-year loan term (may be amortized up to ten years), interest rate is VEDA's Small Business Index minus 1.5% for five years then adjusting to variable Small Business Loan Program Index Rate. Closing fees apply to all loans.
Program Administrator Vermont Economic Development Authority
Website http://www.veda.org/financing-options/vermont-commercial-financing/vermont-business-energy-conservation-loan-program/
Date added to DSIRE 2009-10-07
Last DSIRE Review 2012-12-20



References DSIRE[1]


Summary

The Vermont Business Energy Conservation Loan Program is a joint-effort between Efficiency Vermont and the Vermont Economic Development Authority. Vermont businesses (including non-profits) involved in manufacturing (or processing and assembly of products), hospitality, services, farms, and retail are eligible, as long as they are 51% owned by US Citizens. Projects must improve the energy efficiency of the building, and improvements to thermal envelope, power, heating, ventilation and cooling systems, lighting, and energy efficiency HVAC equipment are generally eligible. In addition, companies who conduct energy audits would be eligible for loans on equipment needed to carry out their work. Efficiency Vermont will verify the cost-effectiveness of the proposed efficiency upgrades as part of the application process. Loan applicants are encouraged to also apply for Efficiency Vermont incentives to lower the overall amount of the loan.


Incentive Contact

Contact Name Bill Roberts
Department Vermont Economic Development Authority

Address 58 East State Street
Address 2 Suite 5
Place Montpelier, Vermont
Zip/Postal Code 05602
Phone (802) 828-5627


Email broberts@veda.org

     
     


















  • 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)"