| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Maryland |
| Incentive Type: | Loan Program |
| Web Site: | http://www.marbidco.org/_pages/programs_loans/loan_programs_rbeeil.htm |
| Funding Source: | Revolving Loan Fund |
| Eligible Efficiency Technologies: | Boilers, Energy Mgmt. Systems/Building Controls, Building Insulation, Agricultural Equipment, Comprehensive Measures/Whole Building, Other EE, Commercial Refrigeration Equipment |
| Maximum Loan: | $2,500 - $30,000 Grant amount: 10% of the loan (not to exceed $1,000) |
| Loan Term: | Based on the anticipated payback time. All loans must be personally guaranteed by the owners of the business |
| Interest Rate: | 4.50% fixed interest rate |
Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO) offers low-interest loans to help improve the energy efficiency of agricultural operations and other resource-based business in Maryland. A subsidized loan is provided at below-market rates to help businesses finance equipment or technology to reduce business-related energy consumption. To qualify for the loan, the applicant must provide a copy of an energy audit or energy management plan report provided by a qualified third party energy auditor.
Loan amounts can range from $2,500 to $30,000, with repayment terms tied to anticipated energy savings of the project. The program also offers a grant subsidy to the borrowers up to 10% of the loan (not to exceed $1,000) to help reduce the debt service expense. More information is provided in its application and on the website above.
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A solar PV system is custom-designed for your home. Final solar system price may vary based on your location, monthly utility bill, government incentives and rebates, the condition of your home, and local installation prices. Solar PV system output and estimated savings are calculated based on several factors including product type, system production, geography, weather, shade, electricity use, full utilization of the 30% solar investment tax credit, and utility rate structures and rate increases. Savings on your total electricity costs are not guaranteed. Financing options and terms vary by location, and may not be available in all areas. Solar QC is neither the lender nor the project installer. Solar QC License# 1130591
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