What can the Commercial Loan for Energy Efficiency and Renewable (CLEER) Program do for me?
The Montgomery County Green Bank’s Commercial Loan for Energy Efficiency and Renewables (CLEER) Program is designed to help businesses and owners of commercial property in Montgomery County undertake projects that are projected to reduce energy consumption and costs.
By utilizing the CLEER financing offered by our Participating Lenders, you will be able to complete your full scope of work at the same time, including work which costs more than the incentives you are projected to receive from Pepco’s EmPOWER program.
In addition, you may benefit from our financing terms, which seek to match the life of the loan with the expected benefits of the improvements.
Further, 30% of the loan amount can be put toward non-energy improvements.
What are the benefits of making energy improvements?
Making energy efficiency improvements enables you to:
- Reduce your energy consumption, thereby reducing your energy-related operating costs
- Improve your bottom line
- Help create a healthier and more comfortable work environment for your employees
- Contribute to improving the environment with lower greenhouse gas emissions
What happens if my financing needs exceed $250,000?
If your financing needs exceed $250,000, you may still be able to participate. If your lender is utilizing a draw schedule to disburse your loan funds, the CLEER Program Participating Lender can request a waiver from the Montgomery County Green Bank to exceed the CLEER Program’s maximum loan amount. This can be obtained early in the financing process so that you have comfort knowing that you will have the funds you need to complete your scope of work.
If I am a tenant in a commercial property that I do not own, am I eligible under the CLEER Program?
You should consult with your CLEER Program Participating Lender. If you are hoping to make improvements to the property, you will need the property owner’s written permission. However, if you are simply upgrading equipment and machinery, the lender may not require the property owner’s permission.
Is my Homeowners Association (HOA) eligible to be considered for the CLEER Program?
Multifamily communities, such as multifamily rental properties, condominiums, cooperatives, and Planned Unit Developments, are eligible properties for the CLEER Program. Contact a Participating Lender on the eligibility of your HOA as a borrower.
Can the CLEER Program be used to make energy efficiency improvements on my multifamily rental property?
Yes, multifamily rental properties are eligible properties under the CLEER Program.
What is the minimum amount of work that I can finance under the CLEER Program?
All scopes of work must include at least one Pepco-approved Eligible Measure. See the Eligible Improvements list here for a complete list of items allowed under the CLEER Program.