Oregon: Small-Scale Energy Loan Program
Loans for water, wind, solar, biomass, geothermal, and waste heat systems, alternative fuels and producing recycled products, starting at $20,000.
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The Oregon Small-Scale Energy Loan Program (SELP) - created in 1981 after voters approved a constitutional amendment authorizing the sale of bonds to finance small-scale, local energy projects - 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
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.