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Energy Efficiency & Renewable Energy Program
Vermont — state programNo limit subject to eligibility; 2.125% interest rate for standard loans; term up to 10 years; closing costs approximately $3,000 (pass-through of environmental review cost)Deadline: rolling
Provides low-cost and flexible financing to eligible Vermont governmental borrowers (cities, towns, schools, villages, and various districts) for energy efficiency and renewable energy projects. Eligible projects must demonstrate a minimum of 5% savings in energy costs or total energy use, covering activities such as lighting, HVAC, renewable energy systems, building envelope improvements, fuel switching, and more. The program also supports bridging of elective pay (IRS) credits.
Program details
- Type
- loan
- Amount
- No limit subject to eligibility; 2.125% interest rate for standard loans; term up to 10 years; closing costs approximately $3,000 (pass-through of environmental review cost)
- Deadline
- rolling
- Eligibility
- Governmental units including cities, towns, schools, villages, and various districts; must have voter approval and authority or authorization for special financing of assets under Vermont statute; must provide legal opinion from local bond counsel; must provide annual report for three years or three years of financial audits (preferred); term of financing must not exceed useful life of asset financed; loans must achieve measurable energy use or cost savings (target 15%, projects above 5% will be considered)
- Status
- open
- Administrator
- Vermont Municipal Bond Bank
- More Info
- https://www.vtbondbank.org/energy
Source: Vermont — state program. Confirm current terms with the administering agency before applying.