Iowa Energy Saving Loan Program

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For Developers, Communities & Property Owners

Lowering the energy burden for Iowans. 

The Iowa Energy Saving Loan Program is a new revolving loan fund designed to power energy savings across the state. It offers low-interest loans for building audits, upgrades and retrofits that improve energy efficiency. 

This pilot program will provide $1 million in loans — at rates as low as 0% — to support energy-saving upgrades in affordable multifamily housing. These upgrades aim to reduce energy usage, enhance comfort and improve indoor air quality. 

Eligibility

Eligible borrowers include Iowa-based businesses, nonprofits and public entities that own or operate affordable multifamily buildings with 20 or more units and participate in one or more of the following programs administered by the Iowa Finance Authority:

  • Section 8
  • Low-Income Housing Tax Credit
  • HOME Investment Partnerships Program 

Borrowers may receive loans for qualifying energy audits and eligible upgrade and retrofit projects. 

Qualifying energy efficiency audits must:

  • Use Home Performance Assessment evaluation criteria from the ENERGY STAR® program.
  • Identify and recommend life-cycle cost-effective opportunities to reduce energy consumption.
  • Compare energy consumption to that of similar buildings.
  • Provide a Home Energy Score — or equivalent, as determined by the Department of Energy.

Eligible upgrade and retrofit projects must:

  • Be recommended by a qualifying energy audit.
  • Meet at least one criterion form the Home Performance Assessment.
  • Be life-cycle cost-effective.
  • Reduce energy intensity or improve control of energy use during peak demand.
  • Improve energy efficiency, increase comfort or improve air quality. 

Examples of eligible efficiency measures include, but are not limited to:

  • Heating, ventilation and air conditioning
  • Building envelope improvements
  • Lighting upgrades
  • Domestic hot water systems
  • Energy control systems

For full eligibility criteria and program requirements, refer to the Policies and Procedures Guide. 

Application Process

  • Applications will be available and accepted through IowaGrants.gov.
  • Application window: July 21, 2025 – February 1, 2026 (or until funds are exhausted)

Application package must include: 

Note: Applicants seeking a loan to cover the cost of the energy audit may apply before completing the audit. However, a qualifying audit must be completed before applying for a project loan. 

Prior to receiving an award, applicants must attend a virtual interview with the IEDA program manager.  

For more detailed instructions, see the Application Guide. 

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