General Information and Structure
Delaware Sustainable Energy Utility
The Low Interest Loan Program helps Delaware businesses and non-profits reduce their energy bills by improving the efficiency of their operations and increasing the use of renewable energy. Debt service can be underwritten up to 90% of savings.
Active or Closed Program?:
All credit qualified businesses, non profits, farms and government agencies including school districts located in Delaware.
Type of Financing:
Loan Size Range:
ƒƒ$10,000 -$1,000,000 per project for private and non-profit organizations
Type of Improvements Covered:
Energy efficiency measures, alternative fuel vehicles, customer-sited renewable generation, and carbon emissions reduction measures. Energy efficiency measures must be justified by an energy audit. Renewable energy projects require a feasibility study
When is the Product Applicable?:
Interest rates will be determined by the Loan Committee and shall range between50%-120% of Municipal Bond Yields for 20 year bonds with AA rating
5 - 20 years
Point of Contact:
Tony DePrima, Executive Director, Delaware Sustainable Energy Utility at 302.883.3048, [email protected].
Terms shall be either: The lessor of simple payback plus one year, or ten years for amounts above $25,000; five years for amounts less than $25,000.ƒƒ A term that is justified by the projected cash flow where an energy savings performance contract model is used up to 20 years.