Skip Navigation

The U.S. Department of Energy and the North Carolina Solar Center are excited to announce that a new, modernized DSIRE is under construction. The new version of DSIRE will offer significant improvements over the current version, including expanded data accessibility and an array of new tools for site users. The new DSIRE site will be available in the summer of 2014. Staff are currently working hard on the new DSIRE and are unfortunately only able to make minimal updates to the DSIRE website at this time. We apologize for any inconvenience and thank you for using DSIRE.

US Department Energy Efficiency and Renewable Energy
IREC North Carolina Solar Center
Home Glossary Links FAQs Contact About Twitter    Facebook
Illinois

Illinois

Incentives/Policies for Energy Efficiency

Printable Version
Green Energy Loans   

Last DSIRE Review: 09/11/2012
Program Overview:
State: Illinois
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Lighting, Processing and Manufacturing Equipment, Comprehensive Measures/Whole Building, Custom/Others pending approval, Whole House Fans, Other Energy Efficiency Equipment/Upgrades
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Wind
Applicable Sectors: Commercial, Industrial, Nonprofit, Local Government, Agricultural
Amount:$10,000 to $10 million
Maximum Incentive:Rate reduction for up to 5 years of the loan
Terms:Rate reduction available during first 2 years of the bank loan, with possible three additional year extension
Start Date:06/2008
Expiration Date:None
Web Site: http://www.treasurer.il.gov/programs/business-invest/business-inv...
Summary:

Illinois business owners, non-profit organizations, and local governments seeking loans for certain energy efficiency and renewable energy upgrades may apply for a rate reduction, under the Green Energy Loan program through the Illinois State Treasurer's Office, in partnership with eligible banks in the state (loan seekers are encouraged to verify if the eligible banks are actively participating in the program). Loan amounts range from $10,000 to $10 million.

To qualify, the project must be located in Illinois and meet one of the following four criteria:

1. Participation in a state or utility administered efficiency program (ComEd, Ameren, or Dept of Commerce and Economic Opportunity); or

2. Have a contract with an Energy Service Company (commonly referred to as ESCO); or

3. Have a LEED Certified Professional working on the project with the intent to pursue LEED Certification; or

4. Have a plan to install renewable energy system.

The first step is to apply for and receive a loan from a participating, eligible bank for a comprehensive energy efficiency project and/or renewable energy system. After receiving approval, the participating lending bank applies for the rate reduction from the Illinois State Treasurer's Office, using the Green Energy Loan application. If approved, the Treasurer's Office will then deposit state fund in the bank, and the bank will pass along the rate reduction. The actual rate reduction varies depending on the bank. Interest rates are updated daily on the Treasurer's web site.


 
Contact:
  Business Invest Green Energy Information
Illinois State Treasurer's Office
Phone: (312) 814-8951
E-Mail: businessinvest@treasurer.state.il.us
Web Site: http://www.treasurer.il.gov/
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.