- Solar bridge loans, funded by congressionally approved and lawfully awarded funds from U.S. DOE’s Energy Efficiency Revolving Fund (EERF), provide short-term financing to cover the period between funding a solar project and receiving federal tax credits (including elective pay), renewable energy credits (RECs), or other financial incentives. These loans help ensure that solar providers and customers can move forward with projects without waiting for tax credits, U.S. Treasury payments, Illinois Solar for All incentives, Illinois Shines incentives, or utility payments. While we expect that solar and battery storage installations will be the most popular use of this loan, geothermal, energy efficiency, and other clean energy upgrades may also be eligible.
- The Energy Efficiency Revolving Loan Fund provides flexible financing solutions to support energy efficiency and clean energy projects in Illinois. The program offers Bridge Loans to cover gaps between project completion and disbursement of federal or state incentives and Co-Lending/Participation Loans to support longer-term project financing. The fund is administered by the Illinois Finance Authority (IFA) and capitalized through a grant from the U.S. Department of Energy.
- Bridge Loans offer interim financing for entities awaiting Direct Pay tax credits, Investment Tax Credits (ITC), or incentives through Illinois Solar for All. These short-term loans allow projects to move forward without financial delay.
- Eligible projects must be commercial buildings, including multifamily buildings with five or more units located in Illinois, that have undergone a qualified energy audit.
- The program has specific requirements related to building assessments and program outcomes. For full program details, summary loan terms, and eligibility requirements, refer to the EE RLF Initial Bridge Loan Strategy.
Solar Bridge Loans
Interim Financing for Projects Awaiting Tax Credits and/or State Incentives
Program Overview
Funding & Eligibility
- This program is a $14 million revolving loan fund that will offer loans of up to $1 million each for a short term (12-18 month) and, in some instances, more lengthy participation loans.
How to Apply
Energy Efficiency Revolving Loan Fund (EE RLF) Pre-Applications are now open.
Energy Assessment Requirement
All improvements financed by the Energy Efficiency Revolving Loan Fund must be identified in a qualified energy efficiency assessment conducted in the past 5 years. Below are programs that offer free or reduced cost energy assessments:
The EE Assessment Program provides funding to Illinois public housing authorities, local governments, or nonprofit organizations to conduct energy efficiency assessments at properties benefiting residents receiving housing assistance from a state or federal program.
https://epa.illinois.gov/topics/energy/energy-efficiency/energy-efficiency-assessment-program.html
Non-residential Ameren Illinois natural gas or electric customers can receive a FREE Energy Consultation with a trained Energy Advisor to help identify energy-saving opportunities tailored to suit facility needs.
https://amerenillinoissavings.com/business/resource-center/business-faq/
ComEd can help find energy-saving opportunities, whether it’s lights, HVAC system, chillers or motors. Each recommendation will include estimated energy savings, cost savings, project cost, potential incentives and simple payback.
https://www.comed.com/ways-to-save/for-your-business/assessments/facility-assessment
Small Businesses and Facilities: ComEd customers that operate smaller businesses and facilities (peak demand under 400 kW) are eligible for incentives on energy-saving projects in their buildings. Building owners can submit an interest form and get matched with a ComEd-approved Service Provider that will complete an energy assessment, compile a list of recommendations, and coordinate project delivery.
https://www.comed.com/WaysToSave/ForYourBusiness/Pages/SmallBusinessesFacilities.aspx
Nicor Gas has assessments to fit every type of organization, from direct installs for small to medium commercial properties to detailed efficiency inspections in their opportunity assessment, facility assessment and retrocommissioning studies.
ComEd and Ameren Illinois are offering FREE assessments designed to help make a significant impact on public schools’ environments. These assessments, called Public Schools Carbon-Free Assessments (PSCFA), help public schools by assisting in energy cost savings and carbon reduction strategies.
ILRRWA offers an Energy Efficiency Assement Program to provide free energy assessments to drinking water and wastewater utilities. Assessments will evaluate energy needs, consumption, and costs, and recommend measures to reduce energy consumption and identify sources of funding for improvements.
Additional Resources
On February 19, 2025, the Illinois Finance Authority hosted its first Energy Efficiency Revolving Loan Fund (EE RLF) webinar. Materials from the webinar can be found below:
- 02/19/2025 Webinar Slides
- 02/19/2025 Webinar Recording
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Program Resources