AlabamaSAVES is an innovative financing program that leverages funds from private lenders to provide an estimated pool of $65 million for low interest rate loans to implement energy efficiency improvements and install renewable energy systems at existing private commercial, industrial and institutional facilities in Alabama. AlabamaSAVES is administered by Abundant Power Solutions, LLC.
For more information, visit the AlabamaSAVES website.
The Local Government Energy Loan Program provides low-cost revolving loans for energy efficiency projects undertaken by local governments, K-12 public school systems and public colleges and universities in Alabama. Participation in the program results in improvements that pay for themselves through lower utility bills. The interest rate is zero percent for a term up to 10 years.
Through the program, local governments and public colleges and universities can borrow up to $350,000; K-12 public school systems can borrow up to $350,000 per campus or $500,000 per school system. Funds may be used for energy efficiency improvements and retrofits of buildings, water treatment plants, street lights, traffic signals and sports field lighting, as well as fleet vehicle conversions for compressed natural gas (CNG), liquefied natural gas (LNG) and propane. In addition, the incremental cost of a new dedicated or bi-fuel CNG, LNG or propane vehicle over the cost of a traditional fueled vehicle is eligible for the program. The costs for fueling infrastructure are not covered.
Additional information about this program, including the application and required forms, are provided below. Please let the program manager know if your interest in this program is a result of this webpage.
The following two types of bonds are part of the American Recovery and Reinvestment Act of 2009. To access detailed information on the bonds from the state's Recovery website, click the word "details" beside the bond names.
Qualified Energy Conservation Bonds [details]
These bonds can be used by state and local governments for energy improvements in public buildings and green community projects such as energy efficiency improvements in residential buildings. Bonds are also authorized for rural renewable energy development, research and development, and public education.
Executive Order 27 creating the Energy Bond Allocation Committee
Click here for large local government conservation bond allocations for 2009
Click here to see the state's announcement on conservation bonds
QECB Request for Allocation
QECB Guidance from the U.S. Treasury
Information on the Performance Contracting Program can be found on the State Energy Program page under "Building Energy Efficiency."