Description

The Ohio Department of Development and the Office of Energy Resources Division offers a Business and Institutional Loan for qualifying projects from Ohio businesses and institutions. Through a linked deposit, the ODOD and OERS will buy down the interest rate for energy efficiency projects, up to a maximum of $250,000 at a 50% reduced interest rate.

In order to qualify, the project must have an energy payback of 5 year or less, reduce energy costs by at least 15% and the expected life of the project must last longer than the energy payback. Applicants apply for a loan from a participating lender and apply to the OERS for project approval.

The program is funded through the Ohio System Benefits Charge; only customers who are in the service area of AEP, Cinergy, First Energy, Dayton Power and Light and Monongahela/Allegheny Power are eligible for this program. Contact the Program Coordinator below for more information on the Loan Program or for a list of qualified lenders.