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Name |
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South Carolina Enerfund Loan Program |
Status |
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CLOSED |
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Funding Mechanism |
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Loan fund |
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Duration |
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Objectives |
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To provide businesses with financing for energy efficiency improvements and for recycling market development |
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Sponsors |
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South Carolina Energy Office (SCEO) |
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Eligible Sectors |
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Businesses |
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Eligible Projects/Technologies |
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Lighting systems, heating, ventilation and air conditioning systems, energy management systems, alternative or renewable energy systems, building envelope modifications, fuel conservation projects, water conservation and alternative transportation fuel equipment, installation or modification of equipment to utilize waste materials as an industrial feedstock or an energy source. |
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Fund Endowment |
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Stripper Well Settlement funds authorized under State Energy Program |
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Terms |
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-Funding Instruments |
Lender may offer loan or lease purchase agreement |
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-Interest Rates |
3% to Lender; maximum of 7% to Borrower |
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-Payback |
Maximum of fifteen years; but may not exceed life of equipment |
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-Size |
US$ 25,000 minimum; US$ 500,000 maximum |
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-Collateral |
Determined by Lender |
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-Share of loan in project cost |
No limit |
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-Loan criteria |
EnerFund A: Installation of energy efficient equipment or technology designed to reduce energy consumption, peak demand, and/or utility costs or to use renewable energy sources in place of nonrenewable resources.
EnerFund B: Installation of equipment or technology designed for the final processing or conversion of materials into industrial feedstock
Project site must be in South Carolina . |
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Comments |
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EnerFund loans can be used in two categories, A and B. Projects financed through EnerFund A must focus on installation of energy efficient equipment or technology designed to reduce energy consumption, peak demand or utility costs. EnerFund B differs in that eligible projects involve installation of equipment or technology designed for the final processing or conversion of materials into industrial feedstock |
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Sources |
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| Contact Information |
Dr Janet Lockhart JLockhart@ogs.state.sc.us |
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