Illinois Climate Bank Energy Efficiency Revolving Loan Fund

Energy Efficiency Revolving Loan Fund 

The Illinois Environmental Protection Agency (IEPA) and Illinois Finance Authority (IFA) are now accepting pre-applications for the Energy Efficiency Revolving Loan Fund (EE RLF) program. This initiative offers low-interest Bridge Loans to nonprofits, public entities, and commercial building owners in order to finance clean energy projects, such as building electrification, energy storage, and distributed generation, while addressing funding gaps caused by delays in receiving federal direct pay tax credits and Illinois Solar for All incentives. Apply for the EE RLF Bridge Loan here: Pre-application Link  


On February 19, 2025, the Illinois Finance Authority will be hosting its first Energy Efficiency Revolving Loan Fund webinar. Click here to register. 

Learn More

Funding

 

Ranging from $50,000 to $1,000,000


Administrator

Illinois Climate Bank

Eligible Projects


Loans will be available for public sector and nonprofit building owners such as municipalities, school districts, or community organizations, that complete a qualifying project.

The loans can be used for energy efficiency assessments and upgrades resulting from an energy

assessment that meets certain criteria. Health and safety improvements and solar energy systems can also be eligible for the loans if they are recommended by the energy assessment.

  • Eligible Entities: Nonprofits and public entities eligible for the IRA Direct Pay provisions, entities eligible for Illinois Solar for All project incentives, or owners/operators of commercial or multifamily buildings eligible for IRA Tax Credits.
  • Project Certification: Must be certified to receive federal funds and comply with utility-specific interconnection requirements.
  • Project Costs: Must be consistent with U.S. Treasury requirements.
  • Energy Audit: Projects must be paired with a standardized energy audit as per U.S. Department of Energy guidelines.
  • Application Proof: Evidence of Direct Pay application submission to the U.S. Treasury or Part II approval from Illinois Solar for All.


Building Sector

Commercial, nonprofits, and community organizations (including schools)

Process

Fill out the pre-application form to determine eligibility for IFA bridge (construction) loans.

Advantages

Loans are available for up to 24 months, with no monthly payments required until receipt of direct pay tax credits from the U.S. Treasury and/or receipt of Solar for All incentives from the Illinois Power Agency.

Additional Information

The Illinois Finance Authority will be frequently accepting stakeholder feedback to continuously refine its Bridge Loan product. The Authority will be hosting several stakeholder engagement sessions to solicit feedback from relevant parties. If you are not on the Authority's email list and are interested in participating in these conversations, please email federalfunding@il-fa.com.

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