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Kentucky

Kentucky

Incentives/Policies for Energy Efficiency

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Energy Efficiency Loans for State Government Agencies   

Last DSIRE Review: 07/24/2014
Program Overview:
State: Kentucky
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Clothes Washers, Equipment Insulation, Water Heaters, Lighting, Lighting Controls/Sensors, Chillers , Furnaces , Boilers, Heat pumps, Central Air conditioners, CHP/Cogeneration, Heat recovery, Steam-system upgrades, Compressed air, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Motors, Motor VFDs, Comprehensive Measures/Whole Building, Custom/Others pending approval, Unspecified Technologies, Energy Savings Performance Contracts
Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Anaerobic Digestion
Applicable Sectors: State Government
Amount:Minimum loan: $50,000
Maximum Incentive:Not specified
Terms:Payback: 15 years
Funding Source:The American Recovery and Reinvestment Act (ARRA), Build America Bonds (BAB) or traditional tax-exempt bonds
Program Budget:$14,170,579
Web Site: http://finance.ky.gov/initiatives/greenbank/Pages/default.aspx
Authority 1:
KRS ยง 56.770-784
Summary:

Through the Green Bank of Kentucky, executive branch state agencies may be eligible for three separate energy loan products, depending on the proposed energy conservation improvements.* Prior to applying, all agencies are required to submit an energy survey (available on the Green Bank's web site). The Green Bank will then forward the loan application packet (including information regarding the additional required documentation) for the agency to complete and submit. All application letters must be signed by the agency head.

Initial funding for the Green Bank of Kentucky provided by the American Recovery and Reinvestment Act (ARRA) through the Kentucky State Energy Program.

eSELF Revolving Loan
This loan is for energy conservation projects costing between $50,000 and $225,000 that will result in at least a 20% energy reduction. Improvement projects funded under this loan will managed directly by the state agency.

Hybrid Revolving Loan
This loan is for energy conservation projects costing between $50,000 and $600,000. An energy audit or engineering analysis is required as well as a design and development package. The state agency is responsible for procuring materials and service. The cost of the audit/engineering analysis may be rolled into the loan.

ESPC Revolving Loan
This loan is for comprehensive energy conservation projects costing more than $600,000 and that utilize an Energy Savings Performance Company (ESPC) or Energy Service Company (ESCO). A detailed industrial energy audits as well as cost-benefit analysis is required. The cost of the audit/engineering analysis may be rolled into the loan.

*Technically, renewable energy technologies would be eligible for funding under this program, as long as the payback period is 15 years or less. In Kentucky, where electricity rates are approximately $0.06 per kilowatt hour, this is very difficult to achieve.


 
Contact:
  Dick Mink
Division of Facility Finance and Administration Cabinet
403 Wapping Street
Frankfort, KY 40601
Phone: (502) 564-5850
Phone 2: (502) 330-7094
E-Mail: dick.mink@ky.gov
Web Site: http://finance.ky.gov/Pages/default.aspx
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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.