Renewable Energy

Incentives

There are a variety of financial incentives available to Iowans for renewable energy facilities and equipment. These opportunities, however, often go untapped or are not used to their fullest advantage chiefly because people don’t know the programs are available or how to use them.

For example, Akron-Westfield School District worked with the Iowa Energy Center’s Alternate Energy Revolving Loan Program (AERLP) and the DNR Energy Bank Program to install its 600kW wind turbine. Of the $705,000 needed to purchase and install the turbine, the Energy Bank Program provided $455,000 in low interest loans and the AERLP provided $250,000 at zero interest, effectively saving the district $72,000 in interest.

When planning a renewable energy project, look for organizations that can leverage the zero interest loans available from the Energy Center through the AERLP. By taking this route, a qualifying organization can fund its entire project upfront and repay the loan with the energy savings - making the project budget neutral.

Alternate Energy Revolving Loan Program

Type of Incentive:
loan program

Eligible Technologies:
wind, solar, biomass, hydro

Eligible Applicants:
commercial, industrial, residential

Funding Amounts/Limits:
half of financed cost, up to $1 million; 0% interest on AERLP's portion of the loan.

Summary:
The AERLP provides loans to any individual or organization who wants to build renewable energy production facilities in Iowa. Successful applicants receive a single, low-interest loan that consists of a combination of AERLP funds and lender-provided funds. The AERLP provides 50% of the total loan, up to a maximum of $1 million at 0% interest. The remainder of the loan is made by the lender at a negotiated interest rate. The maximum loan term allowed for the AERLP funds is 20 years. As the loans are paid back to the Iowa Energy Center, those funds revolve back into the program and are made available to new applicants.

Contact:
Bill Haman
Iowa Energy Center
515-294-8819
iec@energy.iastate.edu
Alternate Energy Revolving Loan Program website

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Iowa Building Energy Management Program

DSIRE

Summary:
DSIRE is an ongoing project of the Interstate Renewable Energy Council (IREC), funded by the U.S.Department of Energy's Office of Power Technologies and managed by the North Carolina Solar Center. This is a non-profit consortium of state and local government renewable energy officials. It offers a range of market-oriented services and products targeted at education, coordination and procurement.

Contact:
www.dsireusa.org