Energize Delaware - Low Interest Commercial Loan Program

Summary

The Low Interest Commercial Loan Program (previously the Revolving Loan Fund) objective is to encourage the adoption and installation of end-user energy efficiency measures and customer-sited renewable generation that result in savings that can lower customers’ bills and reduce the environmental impacts of energy production, delivery, and use. Loan amounts can range between $30,000 and $2,000,000 per project. 

Program financing is available to all credit-qualified businesses, farms, agri-businesses, local governments, school boards, and non-profits located in existing facilities in the State of Delaware, whether owned or leased (see complete guidelines). Eligible activities include: installation of eligible measures in or on a building or site owned or leased by the applicant; conducting an energy efficiency audit; code-related repair and health and safety measures that are required to secure the energy savings of the projections.

Contractors must meet requirements for Energize Delaware’s Responsible Contractor Policy and the State of Delaware prevailing wage rates for mechanics and/or laborers for contracts greater than $50,000. Applicants must demonstrate the ability to repay the loan or lease as evidenced by review of credit history, financial statements and bank and trade references. For energy efficiency projects, savings over the weighted useful life of the measures must be greater than the cost of the measures including financing.

Equipment must be justified by an energy assessment from an approved auditor. Savings must exceed costs of energy efficient measures over their useful life, including financing. Renewable energy projects require a feasibility study.