February 18, 2014
Opportunities for Co-ops and Their Consumer-Members
Electric co-ops can now access Rural Utility Service (RUS) funds to lend to its business and residential customers through the new Energy Efficiency and Conservation Loan Program (EECLP). The financing program, which began on February 3, 2014 expands the ability of the electric program to make loans to existing and new RUS borrowers for energy efficiency upgrades, conservation measures, and for renewable energy systems.
This web conference recording provides an overview of this loan program, showcases benefits for co-op members, and provides co-ops an opportunity to communicate directly with RUS Administrator, John Padalino, and senior RUS staff. Using this initial funding, co-ops will be able to lend RUS funds to members who want to undertake their own energy upgrades. Members will have several options to repay their loans, including on-bill financing. And with EECLP funds, co-ops will also be able to finance their own eligible projects and energy service contracts that will save consumer-members money on their electric bills. Those efforts may include Smart Grid investments, modifying electric load to help reduce overall system demand, and attracting new businesses and creating new jobs in rural communities by investing in energy efficiency.
How this new financing program offers opportunities for co-ops and consumers in rural America
How the Energy Efficiency and Conservation Loan Program differs from other RUS loan programs
What projects and improvements are eligible for financing
What the loan application entails (including the financial and business plans)