New fund helps commercial building owners reduce energy costs

JUNEAU — The Department of Commerce, Community and Economic Development will begin accepting applications for the Alternative Energy and Conservation Revolving Loan Fund on Sept. 10 to help commercial building owners access affordable loans for energy conservation retrofitting and alternative energy systems.

The maximum loan amount is $50,000. Loan requests more than $30,000 require a letter of denial from a private financial institution. The maximum term is 20 years with a 5 percent interest rate. Applicants must reside in the state for the 12 months preceding the application, and the loan must result in alternative energy production or energy conservation.

For more information, contact (800) 478-LOAN, financing@alaska.gov, or visit commerce.alaska.gov/ded/fin.