Business Energy Conservation Loan Program

August 04, 2015

Summary

The Vermont Business Energy Conservation Loan Program is a joint-effort between Efficiency Vermont and the Vermont Economic Development Authority. Vermont businesses (including non-profits) involved in manufacturing (or processing and assembly of products), hospitality, services, farms, and retail are eligible, as long as they are 51% owned by US Citizens. Projects must improve the energy efficiency of the building, and improvements to thermal envelope, power, heating, ventilation and cooling systems, lighting, and energy efficiency HVAC equipment are generally eligible. In addition, companies who conduct energy audits would be eligible for loans on equipment needed to carry out their work. Efficiency Vermont will verify the cost-effectiveness of the proposed efficiency upgrades as part of the application process. Loan applicants are encouraged to also apply for Efficiency Vermont incentives to lower the overall amount of the loan.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Vermont
Incentive Type:	Loan Program
Web Site:	http://www.veda.org/financing-options/vermont-commercial-financing/vermont-business-energy-conservation-loan-program/
Administrator:	Vermont Economic Development Authority
Start Date:
Eligible Renewable/Other Technologies:	Combined Heat & Power Equipment Insulation Water Heaters Lighting Lighting Controls/Sensors Chillers Furnaces Boilers Heat pumps Air conditioners Heat recovery Steam-system upgrades Compressed air Programmable Thermostats Energy Mgmt. Systems/Building Controls Caulking/Weather-stripping Duct/Air sealing Building Insulation Windows Doors Siding Roofs Processing and Manufacturing Equipment Agricultural Equipment Comprehensive Measures/Whole Building Other EE Reflective Roofs
Maximum Loan:	$150,000
Loan Term:	5-year loan term (may be amortized up to ten years), interest rate is VEDA's Small Business Index minus 1.5% for five years then adjusting to variable Small Business Loan Program Index Rate. Closing fees apply to all loans.

Contact

Name:	Bill Roberts
Organization:	Vermont Economic Development Authority
Address:	58 East State Street Montpelier VT 05602
Phone:	(802) 828-5627
Email:	broberts@veda.org

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.