WSHFC Sustainable Energy Program

Summary

The Washington State Housing Finance Commission’s (WSHFC) Sustainable Energy Trust (SET) provides low-interest loans for energy-efficiency or renewable energy projects. The Commission can finance up to $1 million at favorable interest rates (subject to underwriting), with a preferred minimum loan of $50,000. SET loans are typically issued for the three categories of projects listed below.

New construction of high efficiency single-family homes

Eligible projects must exceed Washington State Energy Code by at least 15%. Construction loans are available to housing developers. Individuals seeking financing for their own homes are not eligible.

Energy and water efficiency upgrades for multifamily housing and nonprofit facilities

Eligible projects must reduce utility consumption by at least 10% for existing buildings. Loans are typically structured so that payments are less than the utility savings, resulting in immediate financial savings for the property owner. Where available, loans may be repaid through the local utility bill, keeping the loan as an operational expense. Interest rates are typically between 2-4%.

Clean Energy 

Eligible projects include wind, solar (including community solar models), biodigesters, biomass, combined heat and power, or other clean energy technologies. Loans are available to property owners and developers, with the exception of single-family homeowners. Interest rates are typically between 2-5%.

For projects costing more than $1 million, the WSHFC may be able to assist in identifying other financing options.