| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Oregon |
| Incentive Type: | Loan Program |
| Web Site: | http://www.oregon.gov/energy/At-Work/Pages/Energy-Loan-Program.aspx |
| Administrator: | Oregon Department of Energy |
| Eligible Renewable/Other Technologies: | Solar - Passive, Solar Water Heat, Solar Space Heat, Geothermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Wind (All), Biomass, Geothermal Heat Pumps, Combined Heat & Power, Wind (Small), Hydroelectric (Small), Geothermal Direct-Use |
| Eligible Efficiency Technologies: | Water Heaters, Lighting, Chillers, Boilers, Heat pumps, Air conditioners, Heat recovery, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Motors, Comprehensive Measures/Whole Building, Custom/Others pending approval, Other EE |
| Name: | OAR 330-110-0005 et seq. |
| Date Enacted: | 5/20/1980 |
| Effective Date: | 5/20/1980 |
| Name: | ORS § 470.050 et seq. |
| Date Enacted: | 06/14/2005 |
| Effective Date: | 01/01/2006 |
The Oregon State Energy Loan Program (SELP) was created in 1981 after voters approved a constitutional amendment authorizing the sale of bonds to finance small-scale, local energy projects and is administered by the Oregon Department of Energy. The sale of bonds is made on a periodic basis and, occasionally, may be done to accommodate a particularly large loan request.
The program offers low-interest loans for projects that:
Loans are available to individuals, businesses, schools, cities, counties, special districts, state and federal agencies, public corporations, cooperatives, tribes, and non-profits. School districts receive special rates.
Though there is no legal maximum loan, the size of loans generally ranges from $20,000 to $20 million. Terms vary, but are generally set to match the term of the bonds that funded the loans. Loan terms may not exceed project life. Loan fees are set based on the size of the loan and range from 1 - 2% of the loan amount requested.
Applications are available on the program web site.
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| kw System size | years Payback period | Lifetime savings |
No money down, 100% finance is available.
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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
