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CEC Offering New 1 Percent Interest Rate Loans for Energy Efficiency and Generation Projects

November 2, 2012

The California Energy Commission (CEC) has announced that California cities are now eligible for new 1 percent interest rate loan funds for energy efficiency and generation projects. More than $22 million in funding from the Energy Conservation Assistance Account (ECAA) is available. CEC is accepting loan applications on a first-come, first-served basis.

 

Requirements

California cities, counties, public schools and universities, special districts, and public care hospitals and institutions are eligible to apply.

Loans for energy projects must be repaid from energy cost savings within 15 years, including principal and interest (approximately 13 years simple payback). Simple payback is calculated by dividing the dollar amount of the loan by the anticipated annual energy cost savings.

A large variety of energy saving projects can be financed with these loans, including:

  • Lighting systems;
  • Streetlights and LED traffic signals;
  • Water and waste water treatment equipment; and
  • Heating, ventilation and air conditioning equipment.

Applications

Applications are available on CEC’s website.

For questions, please call the Special Projects Office at (916) 654-4104 or email the office.  



 
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