The Solar Energy Program offers loans, loan guarantees, and grants to commercial entities, industrial entities, non-profits, schools, and local governments to aid in the acquisition and installation of solar energy systems. Loans have a 25% cost share requirement and 1% commitment fee. For grants, the cost share requirement is 50%. Loan guarantees are available up to $5 million for terms up to 5 years. The program will pay up to 75% of the deficiency if default occurs. Solar energy generation manufacturers are eligible for loans up to $40,000 for each job created within three years following loan approval, and for grants up to $5,000 for every job created within three years following loan approval. Solar energy generation or distribution projects are eligible for loans up to $5 million or $3.00 per watt, whichever is less, and grants can be up to $1 million or $1.50 per watt, whichever is less.
