The Iowa Energy Center (IEC) Board and the Iowa Economic Development Authority (IEDA) announced the opening of the fifth round of the IEC Grant Program at the IEC quarterly board meeting. The IEC Board also approved financial assistance awards to four projects through the Energy Infrastructure Revolving Loan Program (EIRLP).
Designed to facilitate energy-related economic development in Iowa, the IEC Grant Program is now accepting applications for this round of funding until March 23, 2023. The program is funded by gas and electric utilities across Iowa and open to Iowa businesses, colleges, universities and private nonprofit agencies and foundations that bring forward projects that provide a benefit to Iowa’s residential and commercial customers. The eligible projects and initiatives must also align with one of the areas of focus shared by the Iowa Energy Plan: technology-based research and development, energy workforce development, support for rural and underserved areas, biomass conversion, natural gas expansion in underserved areas, electric grid modernization, alternative fuel vehicles and carbon management.
Grant awards will range from $10,000 to $1,000,000, however, most grants awarded will be in the $150,000-$300,000 range. For more details about the program, including the policies and procedures handbook and pre-application guide, visit iowaeda.com/iowa-energy-office/grants. For additional information or questions, please email email@example.com.
Financial assistance awarded to four energy infrastructure projects
The EIRLP provides low-interest loans for energy infrastructure projects that facilitate electricity or gas generation, transmission, storage and distribution. An individual, business, rural electric cooperative or municipal utility located and operating in Iowa have the opportunity to submit an application for assistance. The minimum loan amount is $50,000 and the maximum is $2.5 million. The program accepts applications on a rolling basis with decisions made at the board’s quarterly meetings. Award recommendations for these funds are made by the IEC Board’s loan committee to the full board for approval.
The City of Hawarden plans to replace their electrical substation that no longer has the capacity to serve the community’s growth with a system that improves reliability, serves the increasing load and includes software to monitor and control conditions. The municipal electric utility was awarded a $2.5 million loan.
Red Lion Albia Schools Solar LLC, working with the Albia Community School District, plans to complete a solar plus battery storage project that incorporates solar arrays across several school facilities. The project will offset demand charges through a battery system installed at the high school. The company was awarded a $186,000 loan.
Red Lion Dallas Center Solar LLC, working with the City of Dallas Center, plans to complete a solar project that will add solar arrays at 10 city-owned facilities and an integrated solar canopy along the Raccoon River Valley Bike Trail. The company was awarded a $323,000 loan.
Red Lion Wapello Schools Solar LLC, working with Wapello Community School District, plans to complete a solar project that will add solar arrays to three school facilities and a solar canopy carport covering the elementary school drop-off zone. The company was awarded a $584,000 loan. The project was inspired by a group of 5th and 6th graders in the school’s Lego League, where they research and presented the innovative idea and went on to receive an award in a regional competition.
For EIRLP information, please visit iowaeda.com/iowa-energy-office/energy-loans.
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