State Energy Loan Program

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About

The Idaho Governor’s Office of Energy and Mineral Resources (OEMR) State Energy Loan Program offers low-interest loans to fund energy efficiency projects for single-family homes in Idaho. All loans are evaluated by a financial institution for credit worthiness and must be secured with real estate. Consumers may choose to leverage these loans by accessing utility incentives and federal and state tax credits and deductions. A list of policies and incentives can be found at the Database of State Incentives for Renewables & Efficiency.

2024 Loan Program Details

OEMR’S total funding for this year’s State Energy Loan Program is limited. Therefore, applications will be processed on a first come, first served basis until the funding limit is met or through December 31, 2024; whichever comes first. If the funding limit is not met by December 31, 2024, OEMR may re-open the application period. Loans are only available for single-family residential homes.

The State Energy Loan Program is federally funded and therefore must adhere to federal requirements. All loan applications are subject to federal requirements outlined in OEMR’s Assistance Agreement with the Department of Energy: Award No. DE-SE0001087, CFID No. 81.041. This includes a Section 106 review through the State Historic Preservation Office (SHPO).

Eligible Projects

• Insulation
• Appliances
• HVAC
• Lighting Retrofits
• Weatherization
• Renewable Projects (e.g. solar, wind, geothermal)
• Windows

Maximum Loan Amount: $30,000.00

Term Options:

3%	36 Months
5%	60 Months
7%	84 Months

 

State Energy Loan Program Process

1. Complete the State Energy Loan Residential Project Application form. 
   1. Depending on property age, location, or ground disturbance (any activity that disturbs or compacts ground in a project area) a Section 106 review may be required through the State Historic Preservation Office (SHPO). SHPO reviews may take up to 30 days. 
   2. Provide evidence of title to the subject property (e.g. warranty deed, deed of trust.) The deed must include the legal description (subdivision, lot, block or township, range, section) and must be a copy of the deed recorded with the county. Please note: if property is owned by a trust or other business entity, additional information will be required to determine loan eligibility. 
   3. Provide at least two photos of the area of your property where you plan to install your project, and from the street adjoining the property. Photographs should be current, original, and not taken from Assessor records, screenshots, Google Earth, etc. 
   4. A map of the property, showing the property’s location in relation to nearby buildings and roadways (e.g., Google Maps capture). 
   5. Complete the Qualifying Addendum(s) and include a contractor bid/proposal and other pertinent information as noted in the qualifying addendum(s) for the project. Please note that we cannot loan on energy projects that have already been installed or new construction. Contractors must abide by all applicable rules. For more information, please visit https://dopl.idaho.gov.
   6. Review the included State Energy Loan Program Application Checklist to make sure your application is complete. 
2. Submit this initial paperwork to OEMR for technical criteria review. OEMR will respond within 7 to 10 working days upon receipt of documents to confirm technical review approval of the Project Application. Please note that incomplete documentation will delay the approval process. 
3. If the project passes technical review, applicants will be contacted to submit the following: 
   1. A credit analysis fee of $100 for each applicant
   2. A completed form W-9
4. OEMR will then mail a credit application to the applicant and advise the financial institution chosen by the applicant. 
5. The selected financial institution will run a credit check and notify the applicant and OEMR if credit has been approved or denied. The financial institution may provide the credit report to OEMR. If credit is denied, the applicant will be notified by the financial institution. The credit analysis fee will be paid to the financial institution and will not be refunded to the applicant. 
6. If credit is approved, the applicant will be contacted by OEMR to schedule loan closing. OEMR will send closing documents to the location agreed upon by the financial institution and the applicant. The financial institution location selected will conduct the closing.
7. All loans will be secured with a deed of trust or a mortgage.
8. All loan payments will be made through the Idaho Governor’s Office of Energy and Mineral Resources and repaid to the Idaho Governor’s Office of Energy and Mineral Resources. 
9. Applicants refinancing their home after obtaining a loan from OEMR will need to pay the current loan in full to obtain new financing. The Idaho Governor’s Office of Energy and Mineral Resources will not subordinate its lien position.