About the Program
The Infrastructure Investment and Jobs Act (IIJA) provided $250M for states to establish revolving loan fund (RLF) capitalization grant programs for the purposes of energy efficiency. Indiana received $9.9 million and established the Indiana Energy Efficiency Fund (IEEF) to provide loans and grants for commercial and residential energy audits, upgrades, and retrofits. This funding aims to increase energy efficiency, physical comfort, and air quality of existing building infrastructure. Under this U.S. Department of Energy Formula Program, OED will administer Indiana's allocation of approximately 65% for loans and 25% for grants.
The IEEF will partner with lenders to finance energy efficiency improvements throughout the state. Through a co-lending approach, private capital will be leveraged with public capital to enhance the amount of funding available at lower interest rates.
OED is taking a phased approach to opening the program statewide. OED is currently accepting applications for commercial building projects. Submitted applications and the associated documentation will be reviewed by OED staff to assess project eligibility based on program guidelines. Once an eligibility determination is made, the applicant will work with participating lending partners to complete and process additional loan application materials.
Benefits
- Saving money through reduced energy consumption which reduces energy costs and bills,
- Accessing lower interest loans, and
- Reducing upfront costs of infrastructure improvements.
Commercial Building Project Eligibility
Eligible borrowers for commercial projects include businesses, non-profit organizations, or public entities that meet the following requirements:
- Conducts a majority of its business in Indiana, and
- Owns or operates* one or more commercial buildings or commercial space within a building that serves multiple functions, such as a building for commercial and residential operations.
*Operators may refer to occupants, with the necessary permission of the building owner.
Eligible upgrades or retrofits included in a project must be recommended as part of a qualified energy audit.
Commercial Building Energy Audit Requirements:
- Determine the overall consumption of energy of the facility of the eligible recipient.
- Identify and recommend lifecycle cost-effective opportunities to reduce the energy consumption of the facility of the eligible recipient.
- Identify the period and level of peak energy demand for each building within the facility of the eligible recipient and the sources of energy consumption that are contributing the most to that period of peak energy demand.
- Recommend controls and management systems to reduce or redistribute peak energy consumption.
- Estimate the total energy and cost savings potential for the facility of the eligible recipient if all recommended upgrades and retrofits are implemented, using software that is compatible with the BuildingSync data schema.
Apply Now
Applications for commercial projects are now open.
Questions:
Questions may be directed to EnergyFund@oed.in.gov