The Efficient Buildings Fund (EBF) is a revolving loan fund. These low-interest rate loans are given to governmental entities for energy efficiency and renewable energy projects where the annual energy savings achieved by the project exceeds the annual debt service. RIEBF is administered jointly by the Rhode Island Infrastructure Bank (RIIB) and the Office of Energy Resources.
Congratulations to the five municipalities and one school district that have borrowed funds for energy efficiency and renewable energy projects!
To apply, applicants must complete an application along with an energy audit of the facility(ies) (see application documents below). National Grid will work with potential applicants to schedule and conduct energy audits. The University of Rhode Island (URI) Energy Team will provide technical assistance as needed. All applications will be scored and ranked on a public Project Priority List, with the top scoring applicants being prioritized to receive available funding.
Borrowers are required to report energy use for at least five years following loan closing and have in place or develop an Energy Management Plan within six months of loan closing. The URI Energy Team will provide support for both requirements.
Applications for Round 4 are due October 11th by noon! Please join us for an informational session on EBF – logistics for this will be posted this summer. Slides from a previous information session are here. The full timeline for Round 4 is below:
|Round 4 Schedule||Timeline|
|Applications are due to the Office of Energy Resources||October 11 by noon|
|OER notifies applicants of application completeness||October 18|
|Missing application components due to OER||October 25|
|Project Priority List posted for public comment||November 3|
|Public comment period ends||November 8|
|Project Priority List finalized and selected borrowers notified by RIIB||November 10|