Madison Gas and Electric (MGE) offers business customers a loan for energy efficiency projects. Customers use a Shared Savings Loan from MGE to finance improvements, with the money saved from improvements used to offset the cost of repaying money provided by MGE.
Projects must be over $5,000 to qualify and can cover equipment replacements, facility improvements or new construction. Interest rates are either fixed annually or floated with the LIBOR. Interest rate resets will be conducted annually in April of May. Monthly repayment billings appear as line items on participants' energy bills. Participants will have to pass a credit review and provide project information. Contact MGE for more information regarding this program.
| Implementing Sector: | Utility |
| Category: | Financial Incentive |
| State: | Wisconsin |
| Incentive Type: | Loan Program |
| Web Site: | http://www.mge.com/business/services/financing/ |
| Administrator: | |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: | Loans over $100,000 are continuous instead of annual |
| Loan Term: |
Rate: fixed annually or floated with LIBOR Repayment: up to 10 years. $5,000 minimum loan. |
| Technologies: | Water Heaters, Lighting, Furnaces, Custom/Others pending approval, Food Service Equipment, Commercial Refrigeration Equipment |
| Sectors: | Commercial, Industrial |
| Parameters: | The incentive has a minimum of $100.00, The incentive has a maximum of 5.00 $/Unit |
| Name: | Business Helpline |
| Organization: | Madison Gas and Electric |
| Address: |
133 South Blair Street Madison WI 53701-1231 |
| Phone: | (608) 252-7007 |
| Email: | talksbiz@mge.com |
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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