Municipal Alternative Energy Revolving Loan Program

Incentive type: 
Energy Efficiency
Technologies: 

Solar photovoltaic energy, solar thermal energy, wind energy, geothermal energy, biomass, gasification facility for the generation of electricity, or energy efficiency technologies, products, and activities that reduce energy consumption or support clean and renewable energy production.

Date: 

Effective Date: June 17th, 2010.

Sectors: 
Agricultural

State Bill 232, enacted in June 2010 by the Ohio legislature, gave authority to municipalities to establish revolving loan programs to finance energy efficient and renewable energy projects. Revolving loan funds must be established in the municipal treasury with a dedicated funding source. Loan repayments and interest are fed directly into the loan fund. Revolving loan funds by law may only charge interest rates lower than the prevailing market value.

To see if you are eligible for financing assistance through a revolving loan program, contact your local municipality.

For more details, please refer to S.B. 232 here:  www.lsc.state.oh.us/fiscal/fiscalnotes/128ga/sb0232sp.htm