Last DSIRE Review: 08/03/2009
Program Overview:
| State: |
Illinois |
| Incentive Type: |
State Bond Program |
| Eligible Efficiency Technologies: |
Comprehensive Measures/Whole Building, Custom/Others pending approval, Yes; specific technologies not identified |
| Eligible Renewable/Other Technologies: |
Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, CHP/Cogeneration, Transmission and Storage, Daylighting, Renewable Fuels, Fuel Cells using Renewable Fuels, Other Distributed Generation Technologies |
| Applicable Sectors: |
Commercial, Industrial, Nonprofit, Institutional |
| Amount: | Varies by project |
| Web Site: |
http://www.il-fa.com/green/
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Date Effective: 01/01/2010 |
Summary:
The Illinois Finance Authority (IFA) is a state conduit issuer of tax-exempt bonds & credit enhancement for projects in Illinois. The IFA funding is available to commercial as well as non-profit entities as long as those entities meet strict eligibility criteria. Specifically, entities seeking funding must demonstrate that their projects provide a significant public benefit for the citizens of Illinois. In 2009, the IFA was authorized by legislation (S.B. 1906) to provide funding via issuance of tax-exempt bonds for renewable energy projects. Through existing authorization, the IFA also provides funding to energy efficiency ("green") projects.
For the purposes of this program, renewable energy projects include those that utilize wind, solar thermal energy, photovoltaic cells and panels, biodiesel, crops and organic waste biomass, trees and tree trimmings, hydropower, Illinois-produced landfill gas, and "other alternative sources of environmentally preferable energy." (This definition is from the Illinois Power Agency Act). In addition, transmission lines and associated equipment used to transfer electricity created by renewable energy, as well as renewable energy storage technologies are eligible.
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