The Ohio Department of Development and the Office of Energy Resources Division offers a Business and Institutional Loan for qualifying projects from Ohio businesses and institutions. Through a linked deposit, the ODOD and OERS will buy down the interest rate for energy efficiency projects, up to a maximum of $250,000 at a 50% reduced interest rate. In order to qualify, the project must have an energy payback of 5 year or less, reduce energy costs by at least 15% and the expected life of the project must last longer than the energy payback. Applicants apply for a loan from a participating lender and apply to the OERS for project approval. The program is funded through the Ohio System Benefits Charge; only customers who are in the service area of AEP, Cinergy, First Energy, Dayton Power and Light and Monongahela/Allegheny Power are eligible for this program. Contact the Program Coordinator below for more information on the Loan Program or for a list of qualified lenders.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Ohio |
| Incentive Type: | Loan Program |
| Web Site: | http://www.odod.state.oh.us/cdd/oee/ELFQandA.htm#10 |
| Administrator: | Ohio Department of Development |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
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| Maximum Loan: | $250,000 |
| Loan Term: | Interest rate reduction up to 50%; 5 year term |
| Name: | Carolyn Seward |
| Organization: | Ohio Department of Development |
| Address: |
77 South High Street, 26th Floor Columbus OH 43216-1001 |
| Phone: | (614) 466-4053 |
| Email: | ELF@odod.state.oh.us |
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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