The Efficient Buildings Fund (EBF) makes attractive, long-term financing available to municipalities and quasi-public agencies for the completion of energy efficiency and renewable energy projects.
$60M+
Financed
RIIB impact overview FY2016–21 ($61M); later years higher
33%
Below market interest
Subsidized rate
20+
Projects
Conservative estimate pending RIIB confirmation
OER
Project Priority List
Ranks projects
Ready to apply
For public entities applying for long-term financing for drinking water, clean water, energy efficiency and/or renewable energy, or road and bridge projects.
Not sure this is the right form? Check eligibility or browse all application forms.
Municipalities and quasi-public agencies pursuing eligible energy efficiency and renewable energy projects, consistent with program rules and the Office of Energy Resources (OER) process.
Measures that conserve energy or produce clean energy, structured as cashflow-positive financing with terms from as short as one year up to the asset’s useful life, with interest that may be capitalized during construction.
Financing is awarded based on ranking on the OER Project Priority List, readiness to proceed, credit approval, and availability of funds. Borrowers work directly with RIIB and OER to complete project and financing applications.
Partner Pascoag Utility District Challenge: Pascoag Utility District supplies power to approximately 5,000 customers in Northern Rhode Island. During peak summer months, high electricity demand was putting the facility a
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Partner Cogent Capital Challenge: The Eddy Street Self Storage facility is a 155,850-SF warehouse and storage facility in Providence, Rhode Island. Buildings of this size and type are typically large energy consumers; th
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Partner Cogent Capital Challenge: The Eddy Street Self Storage facility is a 155,850-sf warehouse and storage facility in Providence, Rhode Island. Buildings of this size and type are typically large energy consumers; th
Read storyAlign with the OER Project Priority List and stay coordinated with RIIB and OER through application and closing.
Projects include measures that will conserve energy or produce clean energy.
Loans are cashflow positive. Terms may be as short as one year or as long as the asset’s useful life, and interest can be capitalized during the construction period.
Interest is subsidized at 33% below the borrower’s market rate.
Projects are awarded financing based on ranking on the OER Project Priority List, readiness to proceed, and subject to credit approval and availability of funds.
Borrowers work directly with RIIB and OER to complete project and financing applications.
Public-entity financing application used for Efficient Buildings Fund projects. Apply online or download the PDF.
Video
Complete the program audit request form linked from Additional services on the legacy page or your community’s program contact.
Financing for public and private borrowers, including emerging technologies.
Long-term financing for commercial and industrial building upgrades.
Business Development Officer
For more information about the Efficient Buildings Fund, please contact:
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