The Montana Department of Environmental Quality’s (DEQ) Alternative Energy Revolving Loan Program recently set a 3.25 percent interest rate for the remainder of 2014. The revolving loan program has helped local governments, non-profit organizations, small businesses, and homeowners install alternative energy systems for more than a decade. More than $5 million has been loaned over that time, according to Kathi Montgomery, the loan program manager.
The most commonly financed types of alternative energy systems include:
- Small hydropower plants (under 1 megawatt)
- Ground-source heat pump systems for space and water heating
- Solar panels for hot water and/or space heating
- Solar panels that generate electricity (photovoltaic systems)
- Small wind generators
- Low-emission biomass (wood) heating appliances
Other non-fossil forms of energy generation and some energy conservation investments may also qualify.