Program Overview
The Efficient Buildings Fund (EBF) makes attractive, long-term financing available to municipalities and quasi-public agencies for the completion of energy efficiency and renewable energy projects.
How it Works
- Projects eligible for Efficient Buildings Fund financing include measures that will conserve energy or produce clean energy
- Loans are cashflow positive. Loans may be as short as one year or as long as the asset’s useful life. Interest can be capitalized during the construction period
- Interest is subsidized at 33% below the borrower’s market rate
- Projects are awarded financing based on their ranking on the Office of Energy Resources’ Project Priority List, readiness to proceed and subject to credit approval and the availability of funds
- Borrowers work directly with RIIB and OER to complete project and financing applications.
Additional Services
- Free energy audits are available. Complete this form to request an audit: http://www.energy.ri.gov/public-audit-request.php
- Free energy consulting services may be available on a limited basis to scope projects and assist with applications. Contact us for more details.
