Apply Now For Geothermal, Wind Energy Project Grants And Loans

The Commonwealth Finance Agency this week approved guidelines to provide $25 million in grants and loans for geothermal and wind energy projects.

 

There is no set deadline to apply, but ASAP is always recommended.

Several types of assistance are available--

 

-- 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 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 feasibility studies up to 50 percent of the total cost of the planning project or $175,000, whichever is less; and

 

-- Guarantees: Grants shall not exceed $5 million and have a term of not more than five years. In the event of a default, the grant will pay up to 75 percent of the deficiency.

 

More information and to apply online, visit the Geothermal and Wind Energy Projects webpage.