Funding Definitions

  • Grants

Grants are funds provided by a governmental entity, charitable foundation, or in some cases a business with a corporate social responsibility mission, to an individual, non-profit organization, business, or a local government body, for a specific purpose linked to public benefit. Unlike loans, grants are not intended to be paid back.

  • Loans

Loan programs provide financing for the purchase of energy systems or equipment, clean or low emission vehicle retrofits or purchases, factory equipment and more. Loans are commonly available to the residential, commercial, industrial, transportation, public, and non-profit sectors.

  • Rebates

State agencies, public utilities and a few local governments offer rebates to promote energy efficiency projects, recycle appliances, new clean vehicle purchases and more. Rebate programs provide cash incentives for items and projects that meet the specifications of the program.

  • PACE Financing

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for renewable energy and/or energy-efficiency improvements. The amount borrowed is typically repaid over a period of years via a special assessment on the owner’s property.

  • Tax Incentives

Tax Incentives cover a broad range of programs including exemptions, exclusions, abatements and credits. There are property tax incentives, corporate tax incentives, and personal tax incentives.

  • Other Incentives

Other incentives can include government contracts, bonds, and any other type of funding opportunity that doesn’t quite fit in with the above types of incentives.