Energy Revolving Loan Fund - Clean Energy Advanced Manufacturing

July 16, 2021

Summary

Note: This program is not currently accepting applications. Check the program web site for information regarding future solicitations.

In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Clean Energy Advanced Manufacturing portion of this program is available to small businesses located in Michigan who are seeking to invest and diversify in clean energy sectors, manufacturing renewable energy and energy efficiency systems and components.

Applicants are evaluated based on minimum credit standards and face-to-face interviews. Loan recipients are required to submit quarterly reports related to energy use, payback, and other economic information. Program funds cannot be used for any systems installed before the date of the loan agreement. In order to qualify for the loans, the applicant must have 500 employees or less.

Program information and applications are available on the program web site.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Michigan
Incentive Type:	Industry Recruitment/Support
Web Site:	http://www.michigan.gov/mdcd/0,4611,7-122-25676-217576--,00.html
Administrator:	Michigan Department of Career Development
Start Date:
Eligible Renewable/Other Technologies:	Geothermal Electric Solar Photovoltaics Wind (All) Biomass Geothermal Heat Pumps Yes; specific technologies not identified Geothermal Direct-Use
Maximum Incentive:	$2,000,000
Terms:	6% fixed interest rate Maximum of 6 years

Authorities

Name:	MCL § 460.911 et seq.
Date Enacted:	01/08/2010
Effective Date:	01/08/2011

Name:	E.O No. 2011-4
Date Enacted:	02/23/2011
Effective Date:	04/23/2011

Contact

Name:	Robert Jackson
Organization:	Energy Office, Michigan Agency for Energy
Address:	7109 W. Saginaw Highway Lansing MI 48917
Phone:	(517) 284-8333
Email:	Jacksonr20@michigan.gov

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.