|
|
Home > News > Nebraska Dollar Energy Saving Loans
Nebraska Dollar Energy Saving Loans
|
|
|
|
|
|
| |
Name |
|
Nebraska Dollar Energy Saving Loans |
Status |
|
| |
|
|
|
Active |
|
| |
Funding Mechanism |
|
Loan fund |
|
| |
|
|
|
|
| |
Duration |
|
1990 - present |
|
| |
|
|
|
|
| |
Objectives |
|
To provide financing for energy efficiency projects |
|
| |
|
|
|
|
| |
Sponsors |
|
Nebraska Energy Office |
|
| |
|
|
|
|
| |
Eligible Sectors |
|
Residential. Industrial, Commercial |
|
| |
|
|
|
|
| |
Eligible Projects/Technologies |
|
High efficiency heating/air conditioning equipment, windows, doors, insulation, building air leaks, appliance replacements, lighting, controls, duct/pipe insulation, waste minimization projects, alternate fuels |
|
| |
|
|
|
|
| |
Fund Endowment |
|
Oil overcharge/ US$ 23 million |
|
| |
|
|
|
|
| |
Terms |
|
|
|
|
-Funding Instruments |
Loans |
|
-Interest Rates |
5% or less |
|
-Payback |
10 years for home, building and system improvements, and 5 years for appliance replacements and the simple payback period for those projects requiring an audit |
|
-Size |
Single-family homes ($35,000), Multi-family homes ($75,000), Business/Non-profits ($100,000), Farms/ranches ($75,000), Govt. ($175,000), Telecommunications ($150,000) Alternatives Fuels ($150,000), Voluntary programs – Rebuild Nebraska and Energy Star Partners ($150,000) |
|
-Collateral |
Up to the lender |
|
-Share of loan in project cost |
|
|
-Loan criteria |
Loans cannot cover (individual) labor costs, borrowers must be a resident of Nebraska for at least 6 months |
| |
|
|
|
|
| |
Comments |
|
The borrower first approaches their own financial institution, which approves the project on financial terms before contacting the State Energy Office for its approval. The State Energy Office buys half the loan at 0% percent interest so that the total interest paid by the borrower is half the market rate obtained through their private lending institution. Since its inception, the loan has revolved three times, investing US$ 67.9 million. |
|
| |
|
|
|
|
| |
Sources |
|
Program Evaluation |
|
| |
|
| Contact Information |
|
| |
|
|
|
