(1) The Director of the State Department of Energy shall administer the energy efficiency and sustainable technology loan program for the purpose of providing financing, promotion and technical support to encourage significant investments in energy efficiency, renewable energy and energy conservation.

Terms Used In Oregon Statutes 470.500

  • Director: means the Director of the State Department of Energy appointed under ORS § 469. See Oregon Statutes 470.050
  • Loan: includes the purchase or other acquisition of evidence of indebtedness and money used for the purchase or other acquisition of evidence of indebtedness. See Oregon Statutes 470.050
  • Small scale local energy project: means any of the following:

    (a) A system, mechanism or series of mechanisms located primarily in Oregon that directly or indirectly uses or enables the use of, by the applicant or another person, renewable resources including, but not limited to, solar, wind, geothermal, biomass, waste heat or water resources to produce energy, including heat, electricity and substitute fuels, to meet a local community or regional energy need in this state. See Oregon Statutes 470.050

(2) The goals of the loan program are to:

(a) Provide capital at the lowest possible cost for the purpose of supporting energy efficiency and conservation and renewable energy projects for residential and commercial structures;

(b) Expand, and to simplify taking advantage of, opportunities for small scale local energy project financing;

(c) Leverage multiple sources of public and private capital through a unified and strategic funding mechanism;

(d) Provide technical and financing information to the public and to businesses;

(e) Foster energy savings;

(f) Stimulate job growth; and

(g) Help substantially reduce carbon emissions. [2009 c.753 § 2]

 

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