R23-30-4. Eligibility of Projects for Loans

  (1) Eligibility for loans from the Fund is limited to state agencies.

  (2) Loans may be used only by state agencies to fully or partially finance energy efficiency projects within buildings owned and controlled by the state.

  (3) For energy efficiency projects involving renovation, upgrade, or improvement of existing buildings, the following project measures may be eligible for loan financing from the Fund:

  (a) building envelope improvements;

  (b) increase or improvement in building insulation;

  (c) lighting upgrades;

  (d) lighting delamping;

  (e) heating, ventilation, and air conditioning (HVAC) replacements or upgrades;

  (f) improvements to energy control systems;

  (g) other energy efficiency projects or programs that a state agency can demonstrate will result in a reduction in the consumption of energy; and

  (h) renewable energy projects.

  (4) There is no limit to the total number of loans a single state agency may receive from the Fund.

  (5) An energy efficiency project is eligible for a loan only if the loan criteria is met, including an energy cost payback, all subject to approval by the Board.