Revolving Loan Fund
“The DESEU helped the Lewes Library Board achieve its goal of building a highly energy efficient building. The loan process that we went through was well explained and easy to complete. The loan enabled us to include the solar panels while the project was under construction and not have to wait until after the Library was completed. The loan money, together with the 40% net savings in our utility costs, allows us to leverage our funds in the best way possible for the new library”
- Hugh Leahy, President, Lewes Library Board
Energize Delaware Revolving Loan Fund Objectives
The Revolving Loan Fund objective is to encourage the adoption and installation of end-user energy efficiency measures and customer-sited renewable generation and greenhouse gas reduction measures. The result in savings can lower customers’ bills and reduce the environmental impacts of energy production, delivery and use. To download a PDF of our Revolving Loan Fund brochure, click HERE .
Program financing is available to all credit-qualified businesses and non-profits located in existing facilities in the State of Delaware.
Applications may be submitted by cities, towns, counties, other units of government, K-12 schools (public or private), school districts, higher education institutions, hospitals, nursing homes, healthcare institutions, commercial and industrial businesses (for profit businesses) and non-profit organizations.
For additional information regarding eligibility; please refer to the DESEU's Direct Lending Activities - Policies and Procedures Manual .
- Installation of eligible measures in or on a building or site owned or leased by the applicant;
- Conducting an energy efficiency audit;
- Code-related repair and health and safety measures that are required to secure the energy savings of the project. Applications may be submitted by cities, towns, counties, other units of government, K-12 schools (public or private), school districts, higher education institutions, hospitals, nursing homes, healthcare institutions, commercial and industrial businesses (for profit businesses) and non-profit organizations.
- Energy efficiency measures must be justified by an energy audit.
- Contractor must meet requirements for the DESEU’s Responsible Contractor Policy at the following link Responsible Contractor and the State of Delaware prevailing wage rates for mechanics and/or laborers for contracts greater than $50,000.
- Applicant must demonstrate the ability to repay the loan or lease as evidenced by review of credit history, financial statements and bank and trade references.
- For energy efficiency projects, savings over the weighted useful life of the measures must be greater than the cost of the measures including financing.
For additional information regarding minimum requirements; please refer to the DESEU's Direct Lending Activities - Policies and Procedures Manual.
Interest rates will vary based on application type and are subject to change.
Applicants seeking financing will be required to provide an energy audit prepared by a third-party provider selected by the applicant as part of the pre-approval process. For additional information, please visit the below links:
To discuss and obtain an application please contact the Executive Director, Tony DePrima, at the Delaware Sustainable Energy Utility at 302-883-3048 or by email at firstname.lastname@example.org .