Wisconsin ARRA State Energy Program(SEP) Funding Approved

Governor Doyle announced that the first installment of SEP funding allocated to the State of Wisconsin as part of the American Recovery and Reinvestment Act (ARRA) has been approved by the Department of Energy. While the Office of Energy Independence submitted the State application for these funds, the Department of Commerce will administer the program. This funding targets projects in renewable energy and energy efficient manufacturing technologies and business retooling. There is a specific focus on projects that will create or retain jobs, reduce greenhouse gas emissions, reduce fossil fuel use, and/or deploy renewable energy. Applications and program information is available on the Department of Commerce website.

 1) To apply for these state loan funds, your company must be a manufacturing facility as defined by Wisconsin Stats. 70.995(2) see http://www.legis.state.wi.us/statutes/Stat0070.pdf

 2) Eligible cooperatives must submit an application to the Wisconsin Department of Commence  see http://commerce.wi.gov/BD/BD-SEP-ARRA.html

 3) Loan awards are competitively awarded on a continuos, first-come, first-served basis.

 4) Loans are fixed at 2% interest for the term of the loan.  The term of the loan for equipment is 5 to 10 years and the term for working capital is 5 to 7 years.  Loans from tis program can not exceeed 25 percent of the total project costs.

 5)  The total amount of money available is $55 million.