Less than $250,000
US Department of EnergyUS Department of Energy Contact: Thomas Kimbis
With the Budget and Control Board’s approval in September 1997, the Energy Office is now able to offer two loan programs for energy projects. ConserFund finances energy efficiency improvements at public and non-profit facilities. EnerFund assists businesses with both facility improvements and recycling projects.
ConserFund expands the project financing options for public agencies. The SC Energy Office will continue to assist state agencies to finance energy projects through the State Treasurer’s Office Installment Purchase and Master Lease Purchase Programs. The Energy Office also works with school districts and local governments to obtain third-party lease purchase financing for energy equipment.
EnerFund, a business loan program, provides highly secured, low interest loans for energy conservation measures at commercial and industrial facilities (EnerFund A) and for recycling market development projects (EnerFund B). Loans range from $100,000 to $500,000, with terms to ten years (EnerFund A) and 15 years (EnerFund B). While interest rates vary with loan maturity, all rates are considered below market. Both ConserFund and EnerFund loans are made from Petroleum Violation Escrow funds authorized by the U.S. Department of Energy under the State Energy Program. Federal guidelines require that each financed project meet energy efficiency criteria. The SC Energy Office conducts both technical and credit reviews of loan applications.