Citizens Energy Group Customers Eligible for Indiana’s Energy Efficiency Loan Program

INDIANAPOLIS – Large commercial and industrial customers in Citizens Energy Group’s service areas are eligible for a new loan program for energy efficiency upgrades from the Indiana Office of Energy Development. Known as H.E.L.P., the Hoosier Efficiency Loan Program will make revolving, low-interest loans from $50,000 to $500,000 to fund a variety of energy efficiency upgrades and retrofits to the facilities of qualifying applicants.

Supported financially through the American Recovery and Investment Act of 2009, the loan program has $2 million available through the end of 2010. Hoosier companies have until May 24, 2010, to apply for these loans.

“The Hoosier Efficiency Loan Program will help Citizens’ commercial and industrial customers lower energy consumption by making some beneficial energy efficiency upgrades to their facilities,” said Mike Strohl, vice president, customer relationships at Citizens Energy Group. “This is a great opportunity for businesses to take advantage of the very affordable rates this program offers while helping make our community more green, energy efficient and sustainable.”

To qualify, applicants must meet the following criteria:

Commercial applicants:

• Proposed project facility must be at least 30,000 sq. ft. and have annual energy expenditures of at least $30,000.
• Applicant must be the entity responsible for payment of utility bills.
• Applicant must be incorporated in the State of Indiana.

Industrial applicants:

• Proposed project facility must have annual energy expenditures of at least $100,000.
• Company must meet the definition of industry by having a North American Industry Classification System (NAICS) designation of 22, 31-33, 48, 49.
• Applicant must be the entity responsible for payment of utility bills.
• Applicant must be incorporated in the State of Indiana.

Eligible projects:

• Project must be located in Indiana.
• Project must be in a building (or in a number of buildings) owned by applicant.
• Project must meet one or more of the following criteria:
  • Demonstrate measurable improvements in energy efficiency;
  • Result in a reduction in energy demand;
  • Implement an energy recycling process, such as waste-heat recovery.
• Project must use existing reliable, commercially-available technologies.
• Project must be limited to activities that have been previously approved under the National Environmental Policy Act (NEPA) or are otherwise categorically exempt from further NEPA review.
• Project must have a simple payback period of 10 years or less. 

Funding:

• Funding range: $50,000 to $500,000.
• Interest rate: 4 percent for loaned funds. Maximum simple payback period for any eligible project is 10 years.

For more information regarding the H.E.L.P. program and how to apply, visit the Indiana Office of Energy Development’s web site at http://www.energy.in.gov.

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