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Energy Efficiency Revolving Loan Fund Program

Eligibility 
Local Government
Schools
State Government
Institutional
Savings Category 
Custom/Others pending approval
Yes; specific technologies not identified
Program Info
Sector Name 
State
Administrator 
Alaska Housing Finance Corporation
State 
Alaska
Program Type 
Loan Program
Summary 
In June 2010, the Alaska Legislature enacted SB 220, an omnibus energy bill, which created several renewable energy and energy efficiency programs, including the Alaska Energy Efficiency Revolving Loan Fund Program. This program is administered by the Alaska Housing Finance Corporation (AHFC) and offers loans to schools, the University of Alaska, state government, and municipal governments for energy efficiency improvements.

In order to participate in this program, the entity requesting the loan must assess existing energy use by participating in the Retrofit Energy Assessment for Loan (REAL) process. This ensures that energy efficiency measures funded by the loan will provide savings greater than the loan payments. Borrowers must obtain an investment grade audit, which determines the energy efficiency measures eligible for a loan. All improvements must be completed within one year of closing on the loan. There is no prescribed maximum loan amount or loan term; these are subject to AFHC approval.