(a) For the purposes ofthis Part, the Department of Commerce, State Energy Office, is designated asthe lead State agency in matters pertaining to energy efficiency.
(b) The Departmentshall have the following powers and duties with respect to this Part:
(1) To provideindustrial and commercial concerns doing business in North Carolina, localgovernmental units, nonprofit organizations, and residents in North Carolinawith information and assistance in undertaking energy conserving capitalimprovement projects to enhance efficiency.
(2) To establish one ormore revolving funds within the Department for the purpose of providing securedloans in amounts not greater than one million dollars ($1,000,000) per entityto install or to an entity that installs energy‑efficient and renewableenergy improvements (i) within business or nonprofit organizations locatedwithin or translocating to North Carolina, (ii) within local governmentalunits, (iii) within buildings classified as multifamily residential, (iv)within buildings designated as multiuse that include residential units, and (v)within single family residences, however, in this instance the amount of theloan shall not exceed fifty thousand dollars ($50,000). In providing theseloans, priority shall be given to entities already located in the State.
(2a) To develop and adoptrules to allow State‑regulated financial institutions to provide securedloans to corporate entities, nonprofit organizations, and local governmentalunits and residents in accordance with terms and criteria established by theState Energy Office.
(3) To work withappropriate State and federal agencies to develop and implement rules andregulations to facilitate this program.
(4) To contract withpersons or entities, including other State agencies and United States Treasurycertified Community Development Financial Institutions (CDFI), to administerthe Energy Loan Fund. Contracts for the procurement of services to manage,administer, and operate the Energy Loan Fund shall be awarded on a competitivebasis through the solicitation of proposals and through the proceduresestablished by statute and the Division of Purchase and Contract.
(c) The annual interestrate charged for the use of the funds from the revolving fund establishedpursuant to subdivision (b)(2) of this section shall be a percentage not toexceed three percent (3%) per annum, to be established by the State EnergyOffice, excluding other fees required for loan application review andorigination. The term of any loan originated under this section may not begreater than 20 years.
(c1) Notwithstandingsubsection (c) of this section, the State Energy Office shall adopt rules toallow loans to be made from the revolving loan fund and by State‑regulatedfinancial institutions at interest rates as low as zero percent (0%) per annumfor certain renewable energy, recycling, and energy efficient and conservationprojects to encourage their development and use.
(d) In accordance withthe terms of the Stripper Well Settlement, administrative expenses foractivities under this section that are subject to the Stripper Well Settlementshall be limited to five percent (5%) of funds allocated for this purpose. Inaccordance with the provisions of the American Recovery and Reinvestment Act of2009 (ARRA) (Public Law 111‑5), administrative expenses for activitiesunder this section that are subject to the ARRA shall be limited to ten percent(10%) of funds allocated for this purpose.
(e) For purposes of thissection:
(1) "Localgovernmental unit" means any board or governing body of a politicalsubdivision of the State, including any board of a community college, anyschool board, or an agency, commission, or authority of a political subdivisionof the State.
(2) "Nonprofitorganization" means an organization that is exempt from federal incometaxation under section 501(c)(3) of the Internal Revenue Code. (2000‑140, s. 76(i);2001‑338, s. 1; 2009‑446, s. 1(b); 2009‑475, s. 13.)
(a) For the purposes ofthis Part, the Department of Commerce, State Energy Office, is designated asthe lead State agency in matters pertaining to energy efficiency.
(b) The Departmentshall have the following powers and duties with respect to this Part:
(1) To provideindustrial and commercial concerns doing business in North Carolina, localgovernmental units, nonprofit organizations, and residents in North Carolinawith information and assistance in undertaking energy conserving capitalimprovement projects to enhance efficiency.
(2) To establish one ormore revolving funds within the Department for the purpose of providing securedloans in amounts not greater than one million dollars ($1,000,000) per entityto install or to an entity that installs energy‑efficient and renewableenergy improvements (i) within business or nonprofit organizations locatedwithin or translocating to North Carolina, (ii) within local governmentalunits, (iii) within buildings classified as multifamily residential, (iv)within buildings designated as multiuse that include residential units, and (v)within single family residences, however, in this instance the amount of theloan shall not exceed fifty thousand dollars ($50,000). In providing theseloans, priority shall be given to entities already located in the State.
(2a) To develop and adoptrules to allow State‑regulated financial institutions to provide securedloans to corporate entities, nonprofit organizations, and local governmentalunits and residents in accordance with terms and criteria established by theState Energy Office.
(3) To work withappropriate State and federal agencies to develop and implement rules andregulations to facilitate this program.
(4) To contract withpersons or entities, including other State agencies and United States Treasurycertified Community Development Financial Institutions (CDFI), to administerthe Energy Loan Fund. Contracts for the procurement of services to manage,administer, and operate the Energy Loan Fund shall be awarded on a competitivebasis through the solicitation of proposals and through the proceduresestablished by statute and the Division of Purchase and Contract.
(c) The annual interestrate charged for the use of the funds from the revolving fund establishedpursuant to subdivision (b)(2) of this section shall be a percentage not toexceed three percent (3%) per annum, to be established by the State EnergyOffice, excluding other fees required for loan application review andorigination. The term of any loan originated under this section may not begreater than 20 years.
(c1) Notwithstandingsubsection (c) of this section, the State Energy Office shall adopt rules toallow loans to be made from the revolving loan fund and by State‑regulatedfinancial institutions at interest rates as low as zero percent (0%) per annumfor certain renewable energy, recycling, and energy efficient and conservationprojects to encourage their development and use.
(d) In accordance withthe terms of the Stripper Well Settlement, administrative expenses foractivities under this section that are subject to the Stripper Well Settlementshall be limited to five percent (5%) of funds allocated for this purpose. Inaccordance with the provisions of the American Recovery and Reinvestment Act of2009 (ARRA) (Public Law 111‑5), administrative expenses for activitiesunder this section that are subject to the ARRA shall be limited to ten percent(10%) of funds allocated for this purpose.
(e) For purposes of thissection:
(1) "Localgovernmental unit" means any board or governing body of a politicalsubdivision of the State, including any board of a community college, anyschool board, or an agency, commission, or authority of a political subdivisionof the State.
(2) "Nonprofitorganization" means an organization that is exempt from federal incometaxation under section 501(c)(3) of the Internal Revenue Code. (2000‑140, s. 76(i);2001‑338, s. 1; 2009‑446, s. 1(b); 2009‑475, s. 13.)
(a) For the purposes ofthis Part, the Department of Commerce, State Energy Office, is designated asthe lead State agency in matters pertaining to energy efficiency.
(b) The Departmentshall have the following powers and duties with respect to this Part:
(1) To provideindustrial and commercial concerns doing business in North Carolina, localgovernmental units, nonprofit organizations, and residents in North Carolinawith information and assistance in undertaking energy conserving capitalimprovement projects to enhance efficiency.
(2) To establish one ormore revolving funds within the Department for the purpose of providing securedloans in amounts not greater than one million dollars ($1,000,000) per entityto install or to an entity that installs energy‑efficient and renewableenergy improvements (i) within business or nonprofit organizations locatedwithin or translocating to North Carolina, (ii) within local governmentalunits, (iii) within buildings classified as multifamily residential, (iv)within buildings designated as multiuse that include residential units, and (v)within single family residences, however, in this instance the amount of theloan shall not exceed fifty thousand dollars ($50,000). In providing theseloans, priority shall be given to entities already located in the State.
(2a) To develop and adoptrules to allow State‑regulated financial institutions to provide securedloans to corporate entities, nonprofit organizations, and local governmentalunits and residents in accordance with terms and criteria established by theState Energy Office.
(3) To work withappropriate State and federal agencies to develop and implement rules andregulations to facilitate this program.
(4) To contract withpersons or entities, including other State agencies and United States Treasurycertified Community Development Financial Institutions (CDFI), to administerthe Energy Loan Fund. Contracts for the procurement of services to manage,administer, and operate the Energy Loan Fund shall be awarded on a competitivebasis through the solicitation of proposals and through the proceduresestablished by statute and the Division of Purchase and Contract.
(c) The annual interestrate charged for the use of the funds from the revolving fund establishedpursuant to subdivision (b)(2) of this section shall be a percentage not toexceed three percent (3%) per annum, to be established by the State EnergyOffice, excluding other fees required for loan application review andorigination. The term of any loan originated under this section may not begreater than 20 years.
(c1) Notwithstandingsubsection (c) of this section, the State Energy Office shall adopt rules toallow loans to be made from the revolving loan fund and by State‑regulatedfinancial institutions at interest rates as low as zero percent (0%) per annumfor certain renewable energy, recycling, and energy efficient and conservationprojects to encourage their development and use.
(d) In accordance withthe terms of the Stripper Well Settlement, administrative expenses foractivities under this section that are subject to the Stripper Well Settlementshall be limited to five percent (5%) of funds allocated for this purpose. Inaccordance with the provisions of the American Recovery and Reinvestment Act of2009 (ARRA) (Public Law 111‑5), administrative expenses for activitiesunder this section that are subject to the ARRA shall be limited to ten percent(10%) of funds allocated for this purpose.
(e) For purposes of thissection:
(1) "Localgovernmental unit" means any board or governing body of a politicalsubdivision of the State, including any board of a community college, anyschool board, or an agency, commission, or authority of a political subdivisionof the State.
(2) "Nonprofitorganization" means an organization that is exempt from federal incometaxation under section 501(c)(3) of the Internal Revenue Code. (2000‑140, s. 76(i);2001‑338, s. 1; 2009‑446, s. 1(b); 2009‑475, s. 13.)
