Energy Infrastructure Revolving Loan Program

June 14, 2024

Summary

The Energy Infrastructure Revolving Loan Program (EIRLP) was established in 2021 by legislation (S.F. 619) as a replacement for the previous Alternate Energy Revolving Loan Program

The program offers low-interest financing for innovative energy infrastructure projects. The program handbook provides examples of eligible technology and project types; the examples are intended to be illustrative, not exhaustive.

Projects must serve one or more of seven listed project purposes in order to qualify. These purposes are: 1) electric or gas generation, transmission, storage, or distribution; 2) electric grid modernization; 3) energy sector workforce development; 4) emergency preparedness for rural and underserved areas; 5) expansion of biomass, biogas, and renewable natural gas; 6) innovative technologies; and 7) development of infrastructure for alternative fuel vehicles.

The program is accepting applications on a quarterly basis, with no more than $10 million to be distributed each quarter.

Quarterly application deadlines for 2024 were/are January 25, April 18, July 11, and October 17.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Iowa
Incentive Type:	Loan Program
Web Site:	https://www.iowaeda.com/iowa-energy-office/energy-loans/
Administrator:	Iowa Economic Development Authority
Start Date:
Eligible Renewable/Other Technologies:	Load Management Level-2 Electric Vehicle Service Equipment Direct Current Fast Charging Equipment
Maximum Loan:	$2.5 million and no more than 75% of project cost
Loan Term:	No more than 15 years; typically 5 to 10 years
Interest Rate:	2%

Authorities

Name:	S.F. 619
Effective Date:	07/01/2021

Contact

Name:	Stephanie Weisenbach
Organization:	Iowa Economic Development Authority
Address:	1963 Bell Ave. Suite 200 Des Moines IA 50315
Phone:	(515) 348-6221
Email:	Stephanie.Weisenbach@iowaeda.com

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.