Programmatic Underwriting

The Clean Energy Fund program supports projects that meet the following criteria:

  1. Projects result in 15% Minimum Energy Savings;
  2. Energy Efficiency work requires a Level II Energy Audit (Single measure lighting projects may be excepted);
  3. <10 yr. payback for energy efficiency and <20 yr. payback for renewable energy projects;
  4. Estimated lifetime project savings must be greater than cost of project;
  5. Term of loan may not exceed estimated useful life of project;
  6. Consultation with appropriate utilities regarding incentives for EE projects.

Requirements may vary depending on the project scope, entity type of the applicant, and the source of funds for the loan. Exceptions to the above criteria may be made for projects as noted in the Program Objectives section.

Program Recommendations

CDFA recommends that, where applicable, Clean Energy Fund applicants:

  1. Incorporate reasonable Energy Audit recommendations that exceed current NH State Energy Code and especially efforts to reach any of the following standards: LEED, Energy Star, Passive House, or Net Zero.
  2. Contract for 3rd party commissioning of any new energy system
Financial Underwriting

Each borrower will be evaluated to assure that they have the financial capacity to repay the loan within the terms of their agreement. The final decision will take into account the overall financial condition of the borrower and the reasonableness of the financial projections provided with the application. Required financial documents are listed in b.

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