Note: This program is not currently accepting applications. Check the program web site for information regarding future solicitations.
In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Clean Energy Advanced Manufacturing portion of this program is available to small businesses located in Michigan who are seeking to invest and diversify in clean energy sectors, manufacturing renewable energy and energy efficiency systems and components.
Applicants are evaluated based on minimum credit standards and face-to-face interviews. Loan recipients are required to submit quarterly reports related to energy use, payback, and other economic information. Program funds cannot be used for any systems installed before the date of the loan agreement. In order to qualify for the loans, the applicant must have 500 employees or less.
Program information and applications are available on the program web site.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Michigan |
| Incentive Type: | Industry Recruitment/Support |
| Web Site: | http://www.michigan.gov/mdcd/0,4611,7-122-25676-217576--,00.html |
| Administrator: | Michigan Department of Career Development |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Incentive: | $2,000,000 |
| Terms: |
6% fixed interest rate Maximum of 6 years |
| Name: | MCL § 460.911 et seq. |
| Date Enacted: | 01/08/2010 |
| Effective Date: | 01/08/2011 |
| Name: | E.O No. 2011-4 |
| Date Enacted: | 02/23/2011 |
| Effective Date: | 04/23/2011 |
| Name: | Robert Jackson |
| Organization: | Energy Office, Michigan Agency for Energy |
| Address: |
7109 W. Saginaw Highway Lansing MI 48917 |
| Phone: | (517) 284-8333 |
| Email: | Jacksonr20@michigan.gov |
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.
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