LEADING CLEAN ENERGY SOLUTIONS

Alabama’s industrial sector leads State energy consumption, accounting for nearly one-half of total energy use.*

The Alabama Department of Economic and Community Affairs (ADECA) is pleased to offer the state’s first and only energy revolving loan program for existing industries. The program, funded through the U.S. Department of Energy State Energy Program, provides financing for commercial and industrial energy-efficiency and renewable-energy projects in Alabama and is administered by Abundant Power Solutions, LLC.

Effective July 11, 2016, the AlabamaSAVES Program has transitioned to a participating loan program where the Program will acquire up to 25% of a qualifying loan from a third-party banking partner and subordinate this acquired interest to the bank's interest so that the bank can afford to extend more credit to the borrower on its project. The benefits of this new approach are multiple - the borrower receives increased credit from its bank, the bank partner's loan is credit enhanced by the AL SAVES subordinated position, and the AL SAVES program is able to receive its capital back and recycle the same in a perpetual program in furtherance of its mission of supporting energy efficiency, renewable energy and alternative fuels across Alabama.

Program goals

AlabamaSAVES™ is dedicated to these benefits:

 
  • SUPPORTING LOCAL BUSINESS GROWTH STATEWIDE
  • LEADING CLEAN ENERGY SOLUTIONS
  • REDUCING ENERGY COSTS
  • CREATING JOBS

*According to United States Energy Information Administration (EIA)