The AlabamaSAVES program is the first and only energy-related revolving loan program for existing industries. Funding for the program is provided by the American Recovery and Reinvestment Act of 2009. The program provides financing solutions for commercial and industry energy-efficiency and renewable energy projects in the state. It 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 assessments and energy conservation improvements of buildings, water treatment plants, street and sports field lighting and traffic signals.
Additional information about this program, including the application, is provided below in PDF format. Please let the program manager know if your interest in this program is a result of this Webpage.
Local Government Energy Loan Program information and application booklet
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
Clean Renewable Energy Bonds [details]
This bond program is administered by the Internal Revenue Service and provides bond authorization for public entities on a competitive basis for renewable electricity projects. The benefit of the CREB program is that public entities receive the bonds at zero percent interest. The revenue or cost savings from the renewable electricity systems are utilized to pay off the bonds.
The following PDF documents provide more information on these bonds:
Department of Energy presentation on QECBs and CREBs
Information on the Performance Contracting Program can be found on the State Energy Program page under "Building Energy Efficiency."