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Energy Efficiency Revolving Loan Fund (EE RLF)
Illinois Climate Bank / IFA — funded by U.S. DOE Energy Efficiency Revolving Loan FundSee programDeadline: Pre-applications open as of 2026-04-25. Rolling.
Bridge loan program from U.S. DOE Energy Efficiency Revolving Loan Fund administered by IFA. Provides short-term financing (12–18 months typical) to cover the gap between completing an energy efficiency or clean energy project and receiving the federal Direct Pay tax credit (elective pay), Investment Tax Credit (ITC), Renewable Energy Credits (RECs), or other state/utility incentives. Especially valuable for tax-exempt entities and small businesses that depend on Direct Pay reimbursement, where Treasury payment timing creates working capital challenges. Co-lending and participation loan structures also available for longer-term financing. Eligible energy assessments can be obtained free or low-cost through ComEd Facility Assessment, Ameren Energy Consultation, IEPA EE Assessment Program, or Nicor Gas assessments.
Program details
- Agency
- Illinois Climate Bank / IFA — funded by U.S. DOE Energy Efficiency Revolving Loan Fund
- Level
- State
- Category
- Bridge Loan / Tax Credit Bridge Financing
- Eligibility
- Owners and contractors of commercial buildings (including multifamily 5+ units) located in Illinois that have undergone a qualified energy audit within the past 5 years. New construction is NOT eligible. Solar PV, battery storage, geothermal, energy efficiency upgrades, and other clean energy improvements all eligible.
- Funding Amount
- $14M total revolving fund. Loans up to $1M each. Bridge loans 12–18 month term; longer participation/co-lending loans available in some cases.
- Deadline
- Pre-applications open as of 2026-04-25. Rolling.
- Status
- open
- Geographic Scope
- Illinois only
- Project Types
- solar, storage, geothermal, lighting_led, hvac, commercial_efficiency, bridge_loan
- Client Types
- commercial, multifamily, nonprofit, contractor, developer
- Notes
- PRACTICAL FIT: solves the "ITC-arrives-12-months-after-project-completes" cash flow problem. For solar/storage clients claiming 48E ITC + Direct Pay (nonprofits/govt), this is the bridge loan to recommend. Highlight on solar calculator output for nonprofit/govt segment. Required: qualified energy audit within 5 years. Pre-applications open now — direct interested clients to apply early to lock in pipeline position before $14M is committed.
Source: Grantya research. Confirm current terms with the administering agency before applying.