Renewable Energy Revolving Loan Program

January 21, 2009

Summary

Note: The Renewable Energy Revolving Loan Program is currently suspended until spring 2009, when the program will be updated. The Renewable Energy Revolving Loan Program provides low-interest loans to an individual or organization that plans to build a qualified renewable energy production facility. For the purposes of this loan, a renewable energy production facility is a facility that produces energy or transportation fuels from biomass, solar or wind resources. This loan may provide up to 50% of the total cost of a project, but may not exceed $250,000 for each project. The South Carolina Department of Agriculture administers the loan program, in cooperation with the South Carolina Institute of Energy Studies. Disbursement of funds must be approved by the South Carolina Renewable Energy Oversight Committee. The interest rate for qualifying loans will not exceed the Wall Street Journal prime interest rate.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	South Carolina
Incentive Type:	Loan Program
Web Site:	http://www.energy.sc.gov/index.aspx?m=29&t=90&h=404
Administrator:	South Carolina Energy Office
Start Date:	8/1/07
Eligible Renewable/Other Technologies:	Solar Water Heat Solar Photovoltaics Wind (All) Biomass Renewable Fuels
Maximum Loan:	$250,000 (The loan may not provide more than 50% of the project cost)
Loan Term:	Loans must be approved by the South Carolina Renewable Energy Oversight Committee

Authorities

Name:	HB 3749 (sec. 68)
Date Enacted:	7/13/2007
Effective Date:	8/1/07

Contact

Name:	Catherine Vanden Houten
Organization:	South Carolina Energy Office
Address:	1200 Senate Street Columbia SC 29201
Phone:	(803) 737-8030
Email:	chouten@energy.sc.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.