The Efficient Buildings Fund (EBF) provides attractive, long-term financing to municipalities and quasi-public agencies for the completion of energy efficiency and renewable energy projects. EBF seeks to finance energy retrofits in public buildings that will result in electric and heating savings greater than 20% across all properties receiving improvements. To date, the Infrastructure Bank has made $60 million in loans through the Efficient Buildings Fund.
Eligible properties include municipal buildings, schools, publicly-owned utilities, such as wastewater or drinking water facilities, and quasi-state entities. Financing can be repaid over terms of up to 15 years and can be structured to provide annual cash-flow savings to the borrower. The Rhode Island Office of Energy Resources (OER) is the Bank’s regulatory partner for the program. For a project to be eligible for financing, it must first be placed on OER’s Project Priority List (PPL). OER ranks and scores project applications based on transparent scoring criteria, which results in the production of a PPL at least once annually. Interested borrowers should contact our staff to discuss the potential project. Projects are awarded financing based on their ranking on the PPL, readiness to proceed and availability of funds.