Kim Palmer | 09/11/06 @ 2:36pm
This weekend, the Ohio Department of Development’s (ODOD) Office of Energy Efficiency (OEE) announced the availability of $2.2 million in new Energy Loan Fund (ELF) monies.
The Energy Fund provides both grants and low-interest loans for the installation and use of renewable energy systems. Up to 10 percent of the $2.2 million ($220,000) is to be awarded as grants and the remainder of the funding is used to ‘buy-down’ interest rates on money borrowed to implement an energy-efficiency or renewable-energy project.
The ELF program was originally established in 1999 and since has awarded millions of dollars in funding to businesses and residential owners who employ solar and wind electric, solar thermal systems or other renewable energy systems.
In addition to the installation grants and loans, the OEE funds improvement aimed at increasing the energy efficiency of homes, businesses, institutions, and manufacturing facilities.
Qualifying Ohio residents must use approved financial vendors for the ELF loan program and in order to qualify for an ELF grant, applicants and projects must be located in the service territory of one of Ohio’s four investor-owned electrical utilities in order to be eligible: FirstEnergy, Dayton Power and Light (DP & L), American Electric Power (AEP), and Duke Energy (formerly CINergy).