Home > News > Missouri Energy Loan Program (ELP)
Missouri Energy Loan Program (ELP)
|
|
|
|
|
|
| |
Name |
|
Missouri Energy Loan Program (ELP) |
Status |
|
| |
|
|
|
Active |
|
| |
Funding Mechanism |
|
Loan fund |
|
| |
|
|
|
|
| |
Duration |
|
1990 - present |
|
| |
|
|
|
|
| |
Objectives |
|
|
To facilitate the implementation of energy conservation projects by providing a source of capital at, or below, market rates of interest | |
|
| |
|
|
|
|
| |
Sponsors |
|
The Department of Natural Resources/Energy Center |
|
| |
|
|
|
|
| |
Eligible Sectors |
|
Schools and local governments |
|
| |
|
|
|
|
| |
Eligible Projects/Technologies |
|
Lighting, heaters, coolers, etc. |
|
| |
|
|
|
|
| |
Fund Endowment |
|
Energy Overcharge Restitution Fund (EORF) |
|
| |
|
|
|
|
| |
Terms |
|
|
|
|
-Funding Instruments |
Loans |
|
-Interest Rates |
Loan rates are at a fixed interest rate below market value |
|
-Payback |
8 years or less. Payback is the cost of the energy project divided by the annual savings in dollars |
|
-Size |
US$ 5,000 minimum and US$ 2 million maximum (tentative) |
|
-Collateral |
No |
|
-Share of loan in project cost |
Varies on the interest rate |
|
-Loan criteria |
The applicant must own and operate the building, facility or system associated with the proposal, the building must have an expected operational life greater than the project's loan repayment period, and the applicant must be in compliance with all applicable federal, state or local laws, ordinances, and rules, and must not be in default. |
| |
|
|
|
|
| |
Comments |
|
Established in order to facilitate a long-term solution to rising energy costs for schools and local governments through energy efficiency. As of January 1998, public schools and local governments have saved over US$ 3.5 million annually in energy costs. |
|
| |
|
|
|
|
| |
Sources |
|
DNR - Energy Center
Application form (PDF) |
|
| |
|
| Contact Information |
|
| |
|
|
|
