Green Energy Project Loans in Wisconsin
Green Energy Project Loans in Wisconsin (image from Cimexus on Flickr)
Have a business in Wisconsin? Want to go green? Now you can apply for part of the $28 million in green energy project loans that the State Energy Program will receive from the federal stimulus package, aka the American Recovery and Reinvestment Act. According to the Journal-Sentinal:
“The state Department of Commerce will set up a revolving fund to distribute low-interest loans to manufacturers looking to produce renewable energy or retool to make renewable-energy components.”
The green energy loan program will be managed by the Wisconsin Department of Commerce. If you want to know whether your project will qualify, it must include one of the following:
•Adding renewable energy and energy efficiency measures in production systems.
•Retooling production to manufacture renewable energy and energy efficient products or components (such as wind turbines, solar panels, etc).
•Investing in renewable energy projects
The proposals will have to create or keep jobs, reduce greenhouse gas emissions, cut fossil fuel use or incorporate renewable energy. The state will award 2% green energy project loans to businesses using a competitive bidding process. The state program is intended to help boost the growth of green energy economic development. Wisconsin is targeting the manufacturing of wind-power components, and advanced batteries as key growth opportunities within the state.
The green energy project loan program in Wisconsin has close to $28 million allocated to date. Another $28 million may be allocated in the future if it is shown that the plan is being successfully implemented.
For more information, see this Web site if you have a business that is considering an energy loan through the stimulus package.
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