Alternate Energy Revolving Loan Program

October 19, 2021

Summary

Note: This program has been discontinued.

The Alternate Energy Revolving Loan Program (AERLP), administered by the Iowa Energy Center, provides low-interest loans to individuals and organizations that seek to build renewable energy production facilities in Iowa.

Successful applicants receive a low-interest loan that consists of a combination of AERLP and lender-provided funds. The AERLP provides 50% of the total loan at 0% interest rate up to a maximum of $1,000,000. The remainder of the loan is provided by a lender at market rate.

Eligible Technologies

Eligible renewable energy technologies include solar, biomass, wind and small hydro.

Process

Funding decisions for for loans are made by the IEC board at least once per quarter.

The maximum loan term allowed for the AERLP funds is 20 years. As the loans are paid back to the Iowa Energy Center, those funds are cycled back into the program and made available to new applicants.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Iowa
Incentive Type:	Loan Program
Web Site:	https://www.iowaeda.com/iowa-energy-office/alt-energy-loans/
Administrator:	Iowa Energy Center
Start Date:
Eligible Renewable/Other Technologies:	Solar Water Heat Solar Space Heat Solar Thermal Electric Solar Photovoltaics Wind (All) Biomass Hydroelectric Landfill Gas Wind (Small)
Maximum Loan:	$1,000,000
Loan Term:	Maximum term of 20 years
Interest Rate:	0%

Authorities

Name:	Iowa Code § 476.46
Date Enacted:	1996 (subsequently amended)

Contact

Name:	Bill Haman
Organization:	Iowa State University
Address:	2521 University Drive, Suite 124 Ames IA 50010-8629
Phone:	(515) 294-4710
Email:	whaman@iastate.edu

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.