Up to $500,000 in Low Interest Loans Available
North Carolina’s Energy Improvement Loan Program (EILP) is available to businesses, public schools, community colleges, and non-profit organizations for projects that include energy efficiency improvements and renewable energy systems. Loans with an interest rate of 1% are available for certain renewable-energy and energy-recycling projects. Eligible renewable-energy projects generally include solar, wind, small hydropower (less than 20 megawatts) and biomass. Loans with a rate of 3% are available for projects that demonstrate energy efficiency, energy cost savings or reduced energy demand. Energy conservation projects usually include improvements to HVAC systems, energy management controls, high efficiency lighting and building envelope improvements. In order to qualify for the EILP, a project must: be located in North Carolina; demonstrate energy efficiency, use of renewable-energy resources, energy cost savings or reduced energy demand; use existing, reliable, commercially-available technologies; meet federal and state air and water-quality standards; and be able to recover capital costs within the loan’s maximum term of 10 years through energy cost savings. Contact: North Carolina Department of Administration, State Energy Office, 1830 Tillery Place, Raleigh, NC 27604; 919-733-1919; http://www.energync.net/funding/eilp.html
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