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Sustainable Energy Program
Seeking to build green, retrofit a building, or create renewable
Save energy, save money. We can help. The Washington State Housing Finance Commission offers several ways to affordably develop energy-efficient buildings, upgrade existing buildings, and create or conserve energy.
If you are looking to buy a new efficient home, or want to improve the efficiency of a home before you move in, check out the Commission’s Energy Spark Home Loan. If you have questions about the Energy Spark program, please call us at 206.464.7139 or toll free at 800.767.4663 or email firstname.lastname@example.org.
SUSTAINABLE ENERGY TRUST LOANS UP TO $1 MILLION
The Commission’s Sustainable Energy Trust (SET) provides low-interest loans for energy-efficiency or renewable energy projects. The Commission can finance up to $1 million at favorable interest rates (subject to underwriting). SET loans are typically issued for the following types of projects:
New Construction of High Efficiency
Single-Family Homes. Eligible projects must exceed Washington
State Energy Code by at least 15 percent. Construction loans are
available to housing developers. Individuals seeking financing for their
own homes are not eligible.
Energy and Water Efficiency Upgrades for
Multifamily Housing and Nonprofit Facilities. Eligible projects
must reduce utility consumption by at least 10 percent for existing
buildings. Loans are typically structured so that payments are less than
the utility savings, resulting in immediate financial savings for the
property owner. Where available, loans may be repaid through the local
utility bill, keeping the loan as an operational expense. Download
our Multifamily Housing Fact Sheet (PDF) or
Nonprofit Facilities Fact Sheet (PDF).
Clean Energy Projects. Eligible projects include wind, solar (including community solar models), biodigesters, biomass, combined heat and power or other clean energy technologies. Loans are available to property owners and developers, with the exception of single-family homeowners.
ENERGY PROJECTS OVER $1 MILLION
For larger energy projects, a tax-exempt or tax-credit bond may be an excellent tool for your project. We’re happy to help you review your bond financing options. For example, tax-exempt Industrial Development Revenue Bonds (IDBs) may work for certain infrastructure costs. Nonprofit organizations may take advantage of tax-exempt 501(c)(3) bonds for improvements to their facilities. Depending on the project, we may be able to participate with other lenders to issue a loan.
Don’t see a fit? Ask us.
If your energy-related project doesn’t seem to fit any of these categories, call us anyway. We can help you identify options and resources.
APPROVED ROSTER OF ENERGY MODELING CONSULTANTS
Approved Roster of Energy Modeling
Request for Qualifications: Energy Modeling Consultants
The Commission has an ongoing Request for Qualifications from engineers, energy consulting firms, and utility consumption analysts to qualify for the Commission’s referral list for such services. Respondents with successful submissions will be placed on the Approved Roster of Energy Modeling Consultants from which organizations seeking financing may engage.
Expanding Solar Access for Multifamily
Recommendations from the Washington State Housing Finance Commission
Why does the Commission finance energy projects? First of all, it’s good for the community. Energy-efficient buildings are more sustainable over the long term, and cost significantly less to operate over time. Lower energy costs also help homeowners. In fact, owners of energy-efficient homes are 32 percent less likely to default on their mortgages (Institute for Market Transformation, March 2013). And finally, because the state legislature asked us to. In 2009, they empowered us to establish our sustainable energy program and the Sustainable Energy Trust.