Energy Efficiency Revolving Loan Fund Program

In June 2010, the Alaska Legislature enacted SB 220, an omnibus energy bill, which created several renewable energy and energy efficiency programs, including the Alaska Energy Efficiency Revolving Loan Fund Program. This program is administered by the Alaska Housing Finance Corporation (AHFC) and offers loans to schools, the University of Alaska, state government entities, and municipal governments for energy efficiency improvements. In order to participate in this program, energy efficiency measures funded by the loan must provide savings greater than the loan payments. Borrowers must obtain an investment grade audit, which determines the energy efficiency measures eligible for a loan. All improvements must be completed within one year of closing on the loan. There is no prescribed maximum loan amount or loan term; these items are subject to AHFC approval.