The Rhode Island Economic Development Cooperation (RIEDC) administers Energy Revolving Loan Fund (ELF) which provides low interest loans for RI business for energy saving investments. This loan program is funded by reprogrammed stimulus money from the American Recovery and Reinvestment Act (ARRA). Funds can be used to install renewable energy projects, energy efficiency, or purchase energy saving equipment. Terms of loan vary between 5-10 years with interest rates between 1%-3% depending on the project.
Businesses applying for financing are required to provide:
Funds can be used for:
Applicants are required to submit Eligibility Form to determine if they qualify for the program.
Implementing Sector: | State |
Category: | Financial Incentive |
State: | Rhode Island |
Incentive Type: | Loan Program |
Web Site: | http://www.commerceri.com/finance/ERLF.php |
Administrator: | Commerce RI |
Start Date: | |
Eligible Renewable/Other Technologies: |
|
Loan Term: | Loan terms of 5-10 years with interest rate between 1%-3% |
Name: | Hannah Morini |
Address: |
315 Iron Horse Way, Suite 101 Providence RI 02908 |
Phone: | (401) 278-9135 |
Email: | hmorini@commerceri.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.
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