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Nebraska

Nebraska

Incentives/Policies for Renewables & Efficiency

Printable Version
Dollar and Energy Savings Loans   

Last DSIRE Review: 08/14/2014
Program Overview:
State: Nebraska
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Clothes Washers, Dishwasher, Refrigerators, Dehumidifiers, Ceiling Fan, Equipment Insulation, Water Heaters, Lighting, Lighting Controls/Sensors, Furnaces , Boilers, Heat pumps, Central Air conditioners, Heat recovery, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Roofs, Custom/Others pending approval, Whole House Fans, Personal Computing Equipment, Tankless Water Heaters, Combined Water and Space, Heaters, Hot Water Flow Restrictors, Automatic Flue or Vent Dampers, Intermittent Ignition Devices, Telecommunications, Skylights
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Fuel Cells, Geothermal Heat Pumps, Municipal Solid Waste, Pollution Prevention
Applicable Sectors: Commercial, Residential, Nonprofit, Local Government, Multi-Family Residential, Agricultural, Institutional, Energy Star Partners
Amount:Varies
Maximum Incentive:Traditional Dollar and Energy Savings Loans:
Residential: $100,000;
Multifamily dwellings with 3 or more units: $250,000
Non-Residential: $250,000;
Home Electronics: $25,000;
Office Equipment: $50,000
Wind, PV, Fuel Cells: $125,000
Solar Water Heaters: $14,000
New Home Construction: $417,000
Case-by-Case Basis Loans
Non-Residential: $750,000
Terms:Effective interest rate varies between 2.5% and 5% depending on the project.
Payback term ranges between 3 and 15 years.
Funding Source:Oil Overcharge Funds; miscellaneous state, public power district, and federal funds
Web Site: http://www.neo.ne.gov/loan/
Summary:

The Nebraska Dollar and Energy Savings Loan program was created in 1990 using oil overcharge funds. The program, administered by the Nebraska Energy Office, makes available low-interest loans for residential and commercial energy efficiency improvements and renewable energy projects. 

Renewable energy projects may be eligible for a loan under one of two circumstances. First, a project may be eligible if it is included in a list of prequalified improvements. This list includes a variety of renewable energy projects, including wind, photovoltaics, solar hot water heating, and fuel cells. Second, projects not listed as prequalified improvements may be eligible with the submission of an energy audit that verifies that the project will have a reasonable payback period (varies by improvement type).

Process

The program works by leveraging of State Energy Office funds through collaboration with individual Nebraska banks, savings institutions, and credit unions. An individual seeking a loan under this program first approaches his or her financial institution, which approves the project on financial terms. The financial institution then gains approval from the Energy Office, who can purchase 50%, 65%, or 75% of the loan at 0% to deliver a low interest rate to the borrower.

Terms and Conditions

Under the program the simple interest rates are 5%, 3.5%, or 2.5% for the borrower, depending on the project. Prequalified projects are financed with a low-interest loan for up to 15 years for home and building improvements, 5 years for appliances, and 3 to 10 years for other prequalified projects.

Most loan applications are reviewed and processed within 10 working days. All qualifying work should be completed within 5 months of Energy Office's commitment of funds to invest in lender's fund.

As of August 2011, about 300 lenders at 900 Nebraska locations offer Dollar and Energy Savings Loans, and more than $250,000,000 has financed more than 26,000 projects. 


 
Contact:
  Jack Osterman
Nebraska Energy Office
P.O. Box 95085
1111 O Street, Suite 223
Lincoln, NE 68509-5085
Phone: (402) 471-2867
Fax: (402) 471-3064
E-Mail: John.Osterman@nebraska.gov
Web Site: http://www.neo.ne.gov/
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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.