ConserFund is a revolving loan program administered by the Energy Office for energy-efficiency improvements in state agencies, public colleges or universities, school districts, local governments, and private 501 (c)(3) organizations. The loan program is focused on supporting the implementation of energy-efficient improvements that provide long-term cost reductions and energy savings.
- Annual interest rate is a fixed rate set below the Wall Street Journal prime rate (currently 1.5%; rate is evaluated June 30 of each year).
- Loans may cover up to 100% of eligible project costs.
- Borrowers may finance projects from $25,000 up to $500,000 per state fiscal year.
- For government borrowers, the first payment is not due for one year after construction is completed and payments will be made annually thereafter.
- For 501(c)(3) borrowers, the first payment is not due until the first quarter after construction is complete, and loan payments will be made quarterly thereafter.