Last DSIRE Review: 02/13/2013
||State Loan Program
|Eligible Efficiency Technologies:
||Water Heaters, Lighting, Furnaces , Heat pumps, CHP/Cogeneration, Energy Mgmt. Systems/Building Controls, Duct/Air sealing, Building Insulation, Windows, Motor VFDs, Agricultural Equipment, Comprehensive Measures/Whole Building, Custom/Others pending approval
|Eligible Renewable/Other Technologies:
||Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Biomass, Hydroelectric, Geothermal Heat Pumps, Small Hydroelectric, Geothermal Direct-Use
||Commercial, Industrial, Residential, Schools, Local Government, State Government, Agricultural, Institutional, Hospitals
|Amount:||Residential: $1,000 to $15,000|
Commercial: $1,000 to $100,000
Agricultural: Up to $100,000
Renewable Loans: Up to $100,000
Schools, Hospitals, Healthcare Facilities: Up to $100,000
|Maximum Incentive:||Residential: $15,000|
All others: $100,000
|Terms:||4% interest with 5-year term|
The Idaho Office of Energy Resources administers low-interest loan programs for energy efficiency projects, and for active solar, wind, geothermal, hydropower and biomass energy projects. The interest rate is 4% with a 5-year repayment term. Applicants must pay the fees associated with processing and closing a loan. Loans are available for retrofit only, with the exception of some renewable resources.
Residential customers can finance energy efficiency improvements with this loan program, including insulation, space heating upgrades and water heating system improvements. Renewable energy improvements are also eligible for this loan program.
Non-residential customers may undertake projects to improve insulation, windows and doors, heating systems, building commissioning, or custom-designed projects. Specific energy-efficient agricultural equipment may also be eligible. Note that the commercial and industrial loan has a minimum lending amount of $1,000, but loans for the agricultural and public sectors do not have a minimum loan amount.
Certain restrictions apply to this program. For existing homes or businesses, the savings from reduced usage of conventional fuel must be sufficient to pay for the project’s installation cost (i.e., simple payback of 15 years or less). For new off-grid projects, use of a renewable energy resource must be the least cost alternative. For grid-tied renewable energy projects, the payback period must be 15 years or less. Renewable energy projects that are intended to sell energy generated or the commodity produced are not eligible. While the program’s financing requires repayment within five years, a further stipulation for existing homes and businesses states that the project’s cumulative energy savings over a fifteen year period must be great enough to offset the cost of the project.