VirginiaSAVES Green Community Loan Program

August 10, 2020


The VirginiaSAVES Green Community Program provides low cost financing to private commercial and industrial, non-profits, and local governments to fund a wide range of energy efficiency and renewable energy projects in the State. The program works with third-party funding sources to provide financing for projects. Qualified Energy Conservation Bonds (QECB) are issued on a conduit basis by the Virginia Small Business Finance Authority for private borrowers and the Virginia Resource Authority for public borrowers. The program is administered by CleanSource Capital, LLC under the guidance of Virginia Department of Mines, Minerals, and Energy (DMME).

Interested applicants must submit a summary worksheet that describes the project, including measures being funded, vendors involved, and energy assessment. The program administrator will approve the application after ensuring that the proposed measures constitute “qualified conservation purposes” within the QECB regulation and meet other project guidelines. After meeting the eligibility requirements, the borrower can submit a formal application along with an application fee and negotiate a financing term sheet. Please contact the program manager for more information. 

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: Virginia
Incentive Type: Loan Program
Web Site:
Start Date:
Eligible Renewable/Other Technologies:
  • Solar - Passive
  • Solar Water Heat
  • Geothermal Electric
  • Solar Photovoltaics
  • Wind (All)
  • Biomass
  • Geothermal Heat Pumps
  • Municipal Solid Waste
  • Combined Heat & Power
  • Landfill Gas
  • Tidal
  • Wave
  • Ocean Thermal
  • Clothes Washers
  • Dehumidifiers
  • Ceiling Fan
  • Chillers
  • Furnaces
  • Boilers
  • Heat pumps
  • Air conditioners
  • Compressed air
  • Caulking/Weather-stripping
  • Building Insulation
  • Agricultural Equipment
  • Comprehensive Measures/Whole Building
  • Custom/Others pending approval
  • Yes; specific technologies not identified
  • Insulation
  • Hydroelectric (Small)
  • Food Service Equipment
  • Anaerobic Digestion
  • Other Distributed Generation Technologies
  • Commercial Cooking Equipment
  • Data Center Equipment
  • Commercial Refrigeration Equipment
Maximum Loan: Minimum Loan size: $500,000 to $ 1 million
Maximum Loan size: $5 million
Loan Term: As negotiated with the Funding Party per transaction, with the expectation that the blended useful of the improvement up to a maximum of 10 years, but may be longer in Energy Performance Contracting
Interest Rate: As negotiated with the Funding Party per transaction


Name: Executive Order- 36: Continuing Qualified Energy Conservation Bonds
Date Enacted: 12/10/2014
Effective Date: 12/10/2014
Expiration Date: 12/31/2017


Name: Bill Greenleaf
Organization: Virginia Community Capital
Phone: (804) 939-6165
Name: Greg Montgomergy
Organization: Abundant Power
Phone: (704) 271-9889

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.