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Small-Scale Energy Loan Program

Last Review: 2013-01-10
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Water Heaters, Lighting, Chillers, Boilers, Heat pumps, Central Air conditioners, CHP/Cogeneration, Heat recovery, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Motors, Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Landfill Gas, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, Municipal Solid Waste, CHP/Cogeneration, Small Hydroelectric, Renewable Fuels
Applicable Sectors: Commercial
Terms: Terms vary, generally in the range of 5 to 15 years. The loan term must be within the expected life of the project.
Incentive Amount: Typically 20,000 - 20 million
Website: http://egov.oregon.gov/ENERGY/LOANS/selphm.shtml

Summary:

The Oregon Small-Scale Energy Loan Program (SELP) was created in 1981 after voters approved a constitutional amendment authorizing the sale of bonds to finance small-scale, local energy projects and is administered by the Oregon Department of Energy. The sale of bonds is made on a periodic basis and, occasionally, may be done accommodate a particularly large loan request.
The program offers low-interest loans for projects that:

  • Save energy;
  • Produce energy from renewable resources such as water, wind, geothermal, solar, biomass, waste materials or waste heat;
  • Use recycled materials to create products;
  • Use alternative fuels; and
  • Reduce energy consumption during construction or operation of another facility

Loans are available to individuals, businesses, schools, cities, counties, special districts, state and federal agencies, public corporations, cooperatives, tribes, and non-profits.

Though there is no legal maximum loan, the size of loans generally ranges from $20,000 to $20 million. Terms vary, but are generally set to match the term of the bonds that funded the loans. Loan terms may not exceed project life.

As of March 2012, 854 loan applications have been approved, committing approximately $594 million.

Applications are available on the program web site.


Contact:
Kathy Estes
Oregon Department of Energy
625 Marion Street, N.E.

Salem, OR 97301-3737
Phone:(503) 378-5048 Ext.
Phone 2:()
Email: kathy.estes@state.or.us
Web site: http://egov.oregon.gov/energy

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