School Energy Efficiency Project
The Energy Center has developed the AERLP in such a way that loans are given based on both the technical merit of a project and the financial qualifications of the applicant. The Energy Center provides loan funds equal to 50% of the total financed cost of a project (up to $250,000) at 0% interest. Matching financing for the project must be obtained from an Iowa lender of the applicant's choice. The Energy Center has been very successful in managing the AERLP funds. As these loans are repaid, the Energy Center's share of funds become available for loans to future projects.
AERLP funds are reserved for various types of renewable energy production facilities to make sure the program serves a balanced mix of technologies. These technologies include solar, biomass, small hydro and small and large wind turbine facilities.
The Iowa Energy Bank, an energy management program using energy cost savings to repay financing for energy management improvements, serves public and non-profit facilities (public schools, hospitals, private colleges, private schools, and local governments). Since the program's inception in 1989, the Iowa Energy Bank has facilitated more than $130 million in energy improvements using private funds in combination with minimal state and federal support.