AlabamaSAVES Revolving Loan Program

March 10, 2023


The Alabama Department of Economic and Community Affairs (ADECA) offers an energy efficiency and renewable energy participating loan program called AlabamaSAVES. The Program funds subordinated participating interests in qualified third-party loans used to finance energy projects at existing commercial, industrial and non-profit businesses in Alabama. The Participating Interest can be for 100% of the cost of the eligible project or 25% of the Participating Loan up to the cost of the eligible project, whichever is less.A variety of technologies are eligible; see the program technical guide for full details.

In order to apply, interested parties must first contact an AlabamaSAVES representative. Before funding is awarded, an energy assessment, defining the project and estimated energy savings impact, must be submitted and reviewed to ensure a simple payback of 10 years or better or measures “above and beyond” current Alabama code

The program operates as a revolving loan program where the fund is replenished by interest and principal repayments made on prior loans. The fund was initially capitalized with American Recovery and Reinvestment Act (ARRA) funding. Please see the program web site for additional information and program materials.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: Alabama
Incentive Type: Loan Program
Web Site:
Administrator: Abundant Power
Start Date:
Eligible Renewable/Other Technologies:
  • Solar Water Heat
  • Geothermal Electric
  • Solar Photovoltaics
  • Biomass
  • Hydroelectric
  • Combined Heat & Power
  • Water Heaters
  • Lighting
  • Lighting Controls/Sensors
  • Steam-system upgrades
  • Energy Mgmt. Systems/Building Controls
  • Building Insulation
  • Windows
  • Doors
  • Other EE
  • Hydroelectric (Small)
  • Fuel Cells using Renewable Fuels
  • LED Lighting
  • Commercial Refrigeration Equipment
Maximum Loan: Maximum Loan: $4,000,000 (Program Participating Amount: $1,000,000)
Loan Term: Loan Length: 10 year maximum
Program Origination Fee: 2% and reasonable and customary costs from a participating lender partner. Origination fees are subject to a minimum of $2,000.
Interest Rate: Participating Interest Rate: 2% discount off private lender rate


Name: Abundant Power Solutions
Address: 222 South Church Street, Suite 401
Charlotte NC 28202
Phone: (704) 271-9890
Name: Kathy Hornsby
Address: P.O. Box 5690
Montgomery AL 36103
Phone: (334) 242-5284
Name: Greg Montgomery
Organization: Abundant Power Solutions
Address: 222 South Church Street, Suite 401
Charlotte NC 28202
Phone: (704) 271-9889

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.