ConserFund Plus Loan Program Now Available

The ConserFund loan program was established by the South Carolina Energy Office (SCEO) to assist government and nonprofit entities in carrying out energy-efficiency projects. The program has recently been expanded using funds repaid to the state by entities which received loans under the American Recovery and Reinvestment Act (ARRA). ConserFund Plus loans will only be available to the state entities eligible for the original ARRA grants, and will consist of a 70 percent loan/30 percent grant option. Like ConserFund, ConserFund Plus loans may be used for energy efficiency retrofits and renewable or alternative energy projects with an appropriate payback. Unlike ConserFund, ConserFund Plus loans are only available to state agencies, public K-12 schools, and state-supported colleges and universities. Nonprofit organizations are not eligible for ConserFund Plus loans.

The minimum loan amount for the ConserFund Plus program is $25,000 and the maximum is $500,000 per (state) fiscal year. This includes the 30 percent grant amount. In other words, an agency borrowing the maximum amount would receive disbursements up to $500,000 but would repay only $350,000. Borrowers must comply with all ARRA requirements, including Davis Bacon wage reporting, Buy American requirements, and restrictions on transfer or sale of equipment costing more than $5,000 without approval of the SCEO. ARRA requirements apply to both the grant and loan portions of the transaction.

For more information about ConserFund Plus, call Trish Jerman at 803-737-8025 or visit Energy.SC.gov/Incentives/CPlus.