Renewable Energy Program -- Geothermal and Wind Projects

The Renewable Energy Program provides financial assistance in the forms of grants and loan funds to promote the use of alternative energy in the Commonwealth. The program is administered jointly by the Department of Community and Economic Development (DCED) and the Department of Environmental Protection (DEP) under the direction of CFA.

Guidelines:

• Renewable Energy Program - Geothermal and Wind Energy Projects (Adobe PDF)

Uses:

Activities to assist with geothermal technologies and wind energy projects.

Funding:

Loans: Loans for component manufacturers of renewable energy generation equipment up to $35,000 for every new job created. Loans for geothermal systems or wind energy generation or distribution projects shall not exceed $5 million.
Grants: Grants for component manufacturers of renewable energy generation equipment up to $5,000 for every new job created. Grants for geothermal systems or wind energy generation or distribution projects up to $1 million. Grants for planning and feasability studies up to 50% of the total cost of the planning project or $175,000, whichever is less.
Guarantees: Grants shall not exceed $5 million and have a term of not more than five years. In th event of a default, the grant will pay up to 75% of the deficiency.

Eligibility:

A business; an economic development organization; or a political subdivision, includes municipalities, counties and school districts.

Terms:

There is a matching investment requirement of at least $1 for every $1 of program funds awarded. There is a $100 non-refundable application fee due at the time of submission made payable to the CFA. There is a 1% commitment fee on all approved loans.

Where to Apply:

Customer Service Center, Single Application for Assistance