The Oklahoma Department of Commerce has established a loan/lease fund for institutes of higher education to improve energy efficiency. Two categories of funding are available for schools to reduce energy consumption. Category I funding will pay for technical and energy audits, the development of Energy Management Plans, and any professional services that contribute to the planning and design of energy reduction systems and measures. Category II funding covers the actual acquisition and installation of energy conservation measures.
All projects must be shown to reduce energy consumption, have a positive return on investment, and be able to be repaid within 6 years. Loan funds may not be used to pay off an existing loan, but may be used to leverage additional third-party financing of energy efficiency projects. An eligible institute of higher education may only have one active loan at a time.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Oklahoma |
| Incentive Type: | Loan Program |
| Web Site: | http://okcommerce.gov/state-energy-office/revolving-loan-programs/ |
| Administrator: | Oklahoma Department of Commerce |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: | $300,000 |
| Loan Term: | 1 to 6 year terms at 3% interest rate |
| Technologies: | Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Photovoltaics, Wind (All) |
| Sectors: | Schools |
| Parameters: | The incentive has a minimum of $300000.00 |
| Name: | Kylah McNabb |
| Address: |
900 N. Stiles Oklahoma City OK 73104 |
| Phone: | (405) 815-5249 |
| Email: | Kylah_McNabb@okcommerce.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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