The GovBE program will include two funding components:

• Incentive funding that will be provided as a grant, which will not require repayment
• A $14.5 million revolving loan that will require repayment as outlined below 

Incentive levels and limits 

Projects will be selected through a competitive process and incentives provided based on the following criteria: 

• Maximum incentive based on projected methane savings at a rate of $16 per therm saved per year  
• The maximum amount of incentive support available for each jurisdiction is $600,000 per year 
• Must meet minimum 25% match requirements as outlined below 

Loan levels, terms, and limits 

Loans will be available to project awardees as follows:  

• Total financing may not exceed the net cost of the project (total cost, less other funding and PCE incentives, less 25% cost share requirement) 
• 7-year loan term 
• 1% interest rate  
• Minimum loan size of $50,000 per jurisdiction per year 
• Maximum limit of $600,000 per jurisdiction per year 
• Payments will be made monthly to Peninsula Clean Energy 
• Must meet minimum 25% match requirements as outlined below 

Minimum 25% match requirements 

At least 25% of  project total cost must be covered by non-Peninsula Clean Energy funds such as existing local government capital improvement budgets, state or federal grants, or donations. 

Schedule for 2024 funding round

1. Program applications open May 16
2. Program applications close June 28
3. Project award notifications July 26