Energy Revolving Loan Fund - Passive Solar

January 11, 2013

Summary

In January 2010, Michigan enacted the Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund Program. The Passive Solar Systems portion of the loan program is available to family farms and non-profits located in Michigan. Under this program, a passive solar system is defined as "a structure which can extend the growing season to ten to twelve months without additional supplemental heat or light."

Applicants are evaluated based on minimum credit standards and face-to-face interviews to determine knowledge of and interest in passive solar systems. Loan recipients will be required to attend a passive solar system workshop and are required to submit quarterly reports related to production. Program funds cannot be used for any costs incurred before the date of the loan agreement.

Applications are available on the program web site.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Michigan
Incentive Type:	Loan Program
Web Site:
Administrator:	Michigan Department of Career Development
Start Date:
Eligible Renewable/Other Technologies:	Solar - Passive
Maximum Loan:	$15,000
Loan Term:	4% fixed interest rate Interest-only payments for first 6 months 6-year maximum

Authorities

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

Name:	E.O. No. 2011-4
Date Enacted:	02/23/2011
Effective Date:	04/24/2011

Contact

Name:	Terri Novak
Organization:	Department of Energy, Labor and Economic Grow
Address:	611 W. Ottawa Ave. Lansing MI 48909
Phone:	(517) 241-8526

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.