The Energy Loan Fund is a program that provides low-cost financing to small businesses, manufacturers, nonprofits, and public entities for energy improvements that reduce energy usage and associated costs, reduce fossil fuel emissions, and/or create or retain jobs. Funding is provided through the Advanced Energy Fund and federal State Energy Program and American Recovery and Reinvestment Act. Eligible activities include energy retrofits, energy distribution technologies and renewable energy technologies. Projects must achieve 15 percent reduction in energy usage, demonstrate economic and environmental impacts and be included within a long-term energy strategy of the community served.
Interested entities should review the program guidelines to determine the eligibility of their proposed projects. Funding is made available through federal and state resources, therefore all projects awarded loan funds must comply with the associated federal or state requirements.
Applications will be awarded until all funds have been exhausted. Development, at its discretion, may amend the award amount, funding availability amount, or criteria in awarding funds. Qualifying applications will be funded until all the funds available for distribution under this program are awarded or Development determines the program no longer suits the best interests of the State of Ohio.
In addition to this new program, the Office of Energy has implemented an online system that will streamline the application and reporting process for our customers. Details on the application process are described in the eligibility guidelines of the Energy Loan Fund on the left.
For a limited time, borrowers who close on an Energy Loan Fund are eligible to receive a rebate up to 50 percent, or maximum amount of $50,000, for the cost of the required ASHRAE II or equivalent facility energy audits. Eligible audit rebates are dependent upon facility type, system complexity and may not exceed $0.12 per square foot.