Like ConserFund, ConserFund Plus is a revolving loan program, but borrowers can receive 30% of the loan amount as a grant. Like ConserFund, Conserfund Plus loans may be used for energy efficiency retrofits and renewable or alternative energy projects with an appropriate payback.
Because these loans are possible because of public funds designed to reduce energy, projected energy savings must be documented. Therefore, any work begun before the application has a signed loan document will not be covered by the loan.
Unlike ConserFund, ConserFund Plus loans are only available to state agencies, public K-12 schools, and state supported colleges and universities. Non-profit organizations are not eligible for ConserFund Plus loans. In addition, borrowers must adhere to all ARRA requirements, including Davis Bacon and Buy American provisions. Borrowers will be required to execute both a loan agreement and a grant agreement with the Energy Office.
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