The Iowa Economic Development Authority’s (IEDA) Iowa Energy Office is seeking your input as we develop the requirements and framework for a new energy program, the Energy Infrastructure Revolving Loan Program (EIRLP). Our previous energy loan program, the Alternate Energy Revolving Loan Program (AERLP), was discontinued in the 2021 Iowa Legislative session by Division XII of 2021 Iowa Acts, Senate File 619. If enacted, the changes go into effect July 1, 2021. The legislation replaces the program with the EIRLP for projects that include land, buildings, physical plant and equipment, and services directly related to the development of projects used for, or useful for, electricity or gas generation, transmission, storage, or distribution.
The EIRLP broadens the projects and borrowers that were previously eligible for assistance and emphasizes the mission of the Iowa Energy Center and the outcomes sought from the projects. A few highlights include:
Your expertise is uniquely valuable as we formulate administrative rules, policies and procedures. The Iowa Energy Center Board seeks to support impactful projects developed by borrowers that are well-positioned for implementation and loan repayment.
We created a survey for stakeholders to provide input on how the loan program can best meet the demand for energy infrastructure opportunities in Iowa. Please complete the following survey by 5:00 p.m. on Wednesday, June 23, 2021.
The EIRLP broadens the projects and borrowers that were previously eligible for assistance and emphasizes the mission of the Iowa Energy Center and the outcomes sought from the projects. A few highlights include:
- In addition to Iowa businesses and individuals, municipal utilities and rural electric cooperatives are eligible borrowers.
- Unlike the AERLP, the EIRLP does not specify zero interest on the loans, which would allow interest to be charged.
- Eligible projects could include support of electric or gas generation, transmission, storage, or distribution; electric grid modernization; energy sector workforce development; emergency preparedness for rural and underserved areas; expansion of biomass, biogas, and renewable natural gas; innovative technologies; and the development of infrastructure for alternative fuel vehicles.
Your expertise is uniquely valuable as we formulate administrative rules, policies and procedures. The Iowa Energy Center Board seeks to support impactful projects developed by borrowers that are well-positioned for implementation and loan repayment.
We created a survey for stakeholders to provide input on how the loan program can best meet the demand for energy infrastructure opportunities in Iowa. Please complete the following survey by 5:00 p.m. on Wednesday, June 23, 2021.
We look forward to your feedback on the framework that will help achieve the program’s goals. The details of the new program, including when applications may be submitted, will be updated on IEDA’s website as they become available.
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