Modernizing Energy Infrastructure
This Energy Infrastructure Revolving Loan Program (EIRLP) went into effect July 1, 2021. The EIRLP provides low-interest loans for energy infrastructure projects that facilitate electricity or gas generation, transmission, storage or distribution.
The purpose of the program is to support:
- Energy infrastructure development
- Electric grid modernization
- Energy-sector workforce development
- Emergency preparedness for rural and underserved areas
- Expansion of biomass, biogas and renewable natural gas
- Innovative technologies
- Development of infrastructure for alternative fuel vehicles
Administrative rules were developed for the EIRLP that are unique to the program. Policies and procedures to further define eligibility and other requirements were adopted by the Iowa Energy Center (IEC) Board. The current program emphasis is to improve utility infrastructure in counties impacted by 2024 natural disasters. Other applications not related to this purpose will still be accepted and reviewed. More information can be found in the program's policies and procedures handbook.
Previous Program Status
The Alternate Energy Revolving Loan Program, replaced by the EIRLP, was discontinued in the 2021 Iowa legislative session by Division XII of 2021 Iowa Acts, Senate File 619. Iowa Economic Development Authority will continue to administer loans approved under the program according to their terms.
Eligibility
An individual, business, rural electric cooperative or municipal utility located and operating in Iowa shall be eligible for financial assistance.
The EIRLP Policies and Procedures Handbook includes:
- Eligibility requirements established by administrative rules
- Program details, including the types of projects that align with the program purposes and board priorities
- Processes for applicants and approved borrowers
Application Process
Applications are accepted on a rolling basis. Depending on the amount of time needed to complete the application review and underwriting process, applications may be reviewed at the next upcoming Iowa Energy Center Board meeting or the following board meeting. The following application deadlines are suggested as likely to provide adequate time for underwriting of complete applications prior to the anticipated upcoming Iowa Energy Center Board meeting.
Applications are accepted through IowaGrants.gov. Applicant representatives will need to register to create an account through IowaGrants.gov before accessing the application, if they do not already have an account.
The IEC Board will make decisions on loan applications at the quarterly meetings. Some expenses incurred before an IEC Board decision may be considered eligible costs.