Green Energy Loans

July 18, 2017


Note: The Green Energy Loans Program does not currently have information available online, however, the program is still active and accepting applications. 

Illinois business owners, non-profit organizations, and local governments seeking loans for certain energy efficiency and renewable energy upgrades may apply for a rate reduction, under the Green Energy Loan program through the Illinois State Treasurer's Office, in partnership with eligible banks in the state (loan seekers are encouraged to verify if the eligible banks are actively participating in the program). Loan amounts are up to $10 million.

To qualify, the project must be located in Illinois and meet one of the following four criteria:

1. Participation in a state or utility administered efficiency program (ComEd, Ameren, or Dept of Commerce and Economic Opportunity); or

2. Have a contract with an Energy Service Company (commonly referred to as ESCO); or

3. Have a LEED Certified Professional working on the project with the intent to pursue LEED Certification; or

4. Have a plan to install renewable energy system.

The first step is to apply for and receive a loan from a participating, eligible bank for a comprehensive energy efficiency project and/or renewable energy system. After receiving approval, the participating lending bank applies for the rate reduction from the Illinois State Treasurer's Office, using the Green Energy Loan application. If approved, the Treasurer's Office will then deposit state fund in the bank, and the bank will pass along the rate reduction. The actual rate reduction varies depending on the bank. Interest rates are updated daily on the Treasurer's web site.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: Illinois
Incentive Type: Loan Program
Web Site:
Administrator: Illinois State Treasurer's Office
Start Date: 06/2008
Eligible Renewable/Other Technologies:
  • Solar Water Heat
  • Solar Space Heat
  • Solar Thermal Process Heat
  • Solar Photovoltaics
  • Wind (All)
  • Lighting
  • Processing and Manufacturing Equipment
  • Comprehensive Measures/Whole Building
  • Custom/Others pending approval
  • Other EE
  • Wind (Small)
Maximum Loan: Rate reduction for up to 5 years of the loan
Loan Term: Rate reduction available during first 2 years of the bank loan, with possible three additional year extension


Name: Business Invest Green Energy Information
Organization: Illinois State Treasurer's Office
Phone: (312) 814-1700

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.