Note: The Governor's Office of Energy (GOE) issues periodic Request for Applications to fund renewable energy, energy efficiency, and energy conservation projects from the revolving loan funds. A solicitation opened October 21 and is scheduled to close December 31, 2016, but may be extended upon the GOE's discretion. Visit the website or call the GOE at (775) 687-1850 for current information regarding applications and loan availability.
Assembly Bill 522 of 2009 established a fund for renewable energy, energy efficiency and energy conservation loans with funding from the American Recovery and Reinvestment Act. According to the statute, all repayments on loans, and other income derived from loans, must be added back into the fund to be redistributed as additional loans. This type of loan program structure is commonly referred to as a "revolving" loan.
Phase One of this program provided over $8 million in short-term low-cost loans to renewable energy projects. These loans served as bridge financing to cover various project start-up costs. The program is now in Phase Two, with additional funding from unspent ARRA funds.
GOE awards loans to the following types of projects:
Loans may not be used for research or planning, refinancing, the purchase of land or water, or operations and maintenance. Applicants can apply for a minimum amount of $100,000 up to a maximum of $1,000,000. Complete program requirements and application forms are available at the web site above.
|Incentive Type:||Loan Program|
|Administrator:||Nevada State Office of Energy|
|Eligible Renewable/Other Technologies:||
|Maximum Loan:||Maximum Loan: $1 million|
Loan term will not exceed 15 years
Interest rate of 3%. A lower interest may be offered to public entities if the project is located in a disadvantaged community.
|Technologies:||Solar Water Heat, Geothermal Electric, Solar Thermal Electric, Solar Photovoltaics, Wind (All), Biomass, Geothermal Heat Pumps, Hydroelectric (Small), Geothermal Direct-Use|
|Sectors:||Commercial, Construction, Industrial, Local Government, State Government, Federal Government, Installers/Contractors|
|Parameters:||The incentive is 3.00 %, The incentive has a minimum of 15.00 Years, The incentive has a minimum of $1000000.00|
|Name:||NRS 701.545, et seq.|
755 North Roop Street, Suite 202
Carson City NV 89701
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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