The Zero Net Energy San Mateo County Office building 3 (Credit: SOM)
GovBE: Electrification for public buildings
The GovBE program will help local governments convert methane gas to clean, efficient electricity in their buildings with grants of up to $600,000 per year and loans of up to $600,000 per jurisdiction.
Additional information: Program details (PDF), GovBE loan agreement (doc), GovBE incentive agreement (doc)
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
- Program applications open May 16
- Program applications close July 3
- Project award notifications July 26
Questions?
Email us with subject line “GovBE” at programs@pencleanenergy.com