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 – April or May 2024 (Date TBD)
2. Program applications close 6 weeks later 
3. Project award notifications – May/June 2024
4. Board approval as required – June/July 2024