You are here

Local Option - Financing Program for Renewable Energy and Energy Efficiency

Savings Category 
Solar Water Heat
Solar Space Heat
Geothermal Electric
Solar Thermal Electric
Solar Thermal Process Heat
Solar Photovoltaics
Wind (All)
Combined Heat & Power
Landfill Gas
Yes; specific technologies not identified
Wind (Small)
Hydroelectric (Small)
Anaerobic Digestion
Program Info
Sector Name 
North Carolina
Program Type 
Loan Program
North Carolina enacted legislation (H.B. 1389) in August 2009 that authorizes cities and counties to establish revolving loan programs to finance renewable energy and energy efficiency projects that are permanently affixed to residential, commercial or other real property. A revolving loan program generally refers to a loan fund, where the loan repayments and interest are fed back into the fund. In this way, the loan can, in theory, continue indefinitely. HB 1389 allows cities and counties to fund their loan programs through Energy Efficiency and Conservation Block Grants from the federal government and the city's or county's unrestricted revenue. By law, the resulting loan programs may not charge more than 8% interest, and loan terms are limited to 20 years.

H.B. 1829 of 2010 expanded the authority of cities and counties to promote renewable energy and energy efficiency. Cities and counties are still free to provide revolving loan programs, but they can also establish loan loss reserve funds to assist in the financing of eligible projects, or other types of finance programs funded through federal and state grants or their own general revenue.

Contact your local government to find out if it offers financing for renewable energy and/or energy efficiency through this option.