Home > News > California Department of General Service- Energy Management Department Revenue Bond Program
California Department of General Service- Energy Management Department Revenue Bond Program
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California Department of General Service- Energy Management Department Revenue Bond Program |
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Active |
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Funding Mechanism |
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Loan fund |
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Duration |
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Objectives |
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To provide financing for energy efficiency improvements. |
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Sponsors |
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Eligible Sectors |
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State agencies, public K-12 school districts, public colleges and universities and local governments |
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Eligible Projects/Technologies |
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Lighting retrofits, central plant improvements, cogeneration, energy management systems, and thermal energy storage systems. |
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Fund Endowment |
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Varies - amount is dependent on the number pooled projects at the time of the bond sale. The sale takes place every 12-18 months or when the at least US$ 30 million in projects are ready for financing. |
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Terms |
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-Funding Instruments |
Loans |
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-Interest Rates |
The interest rate is determined by the bond rate at the time of the sale. The bonds funding these loans are tax-exempt. |
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-Payback |
12-15 years |
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-Size |
No minimum or maximum loan limit. |
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-Collateral |
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-Share of loan in project cost |
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-Loan criteria |
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Comments |
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When a potential project has been identified, Energy Management arranges for one of its contracted engineering consultants to visit the facility and either prepare a new audit or verify an existing one . If the Initial Audit identifies cost-effective projects, and the facility wishes to pursue those projects to funding, Energy Management will prepare a Memorandum of Understanding (MOU). The MOU identifies the staff and consultant costs required to prepare a detailed feasibility study. The MOU specifies three important outcomes. |
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Sources |
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California Department of General Services |
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| Contact Information |
Glenn Connor at: Glenn.Connor@dgs.ca.gov .
(916) 323-8777 |
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