The purpose of this section is to help rural families and small businesses achieve cost savings by providing loans to qualified consumers to implement durable cost-effective energy efficiency measures.
In this section:
The term "eligible entity" means-
The term "energy efficiency measures" means, for or at property served by an eligible entity, structural improvements and investments in cost-effective, commercial technologies to increase energy efficiency (including cost-effective on- or off-grid renewable energy or energy storage systems).
The term "qualified consumer" means a consumer served by an eligible entity that has the ability to repay a loan made under subsection (d), as determined by the eligible entity.
The term "Secretary" means the Secretary of Agriculture, acting through the Administrator of the Rural Utilities Service.
Subject to paragraph (2), the Secretary shall make loans to eligible entities that agree to use the loan funds to make loans to qualified consumers for the purpose of implementing energy efficiency measures.
As a condition of receiving a loan under this subsection, an eligible entity shall-
Subject to the approval of the Secretary, an eligible entity may update the list required under subparagraph (A)(i) to account for newly available efficiency technologies.
An eligible entity that, at any time before the date that is 60 days after February 7, 2014, has established an energy efficiency program for qualified consumers may use an existing list of energy efficiency measures, implementation plan, or measurement and verification system of that program to satisfy the requirements of subparagraph (A) if the Secretary determines the list, plan, or systems are consistent with the purposes of this section.
A loan under this subsection shall bear no interest.
The Secretary shall not include any debt incurred by a borrower under this section in the calculation of the debt-equity ratio of the borrower for purposes of eligibility for loans under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.).
With respect to a loan under paragraph (1)-
Any advance of loan funds to an eligible entity in any single year shall not exceed 50 percent of the approved loan amount.
In order to assist an eligible entity in defraying the appropriate start-up costs (as determined by the Secretary) of establishing new programs or modifying existing programs to carry out subsection (d), the Secretary shall allow an eligible entity to request a special advance.
No eligible entity may receive a special advance under this paragraph for an amount that is greater than 4 percent of the loan amount received by the eligible entity under paragraph (1).
Repayment of the special advance-
All special advances shall be made under a loan described in paragraph (1) during the first 10 years of the term of the loan.
The Secretary shall take appropriate steps to streamline the accounting requirements on borrowers under this section while maintaining adequate assurances of the repayment of the loans.
Loans made by an eligible entity to qualified consumers using loan funds provided by the Secretary under subsection (c)-
In addition to any other qualified general contractor, eligible entities may serve as general contractors.
Not later than 90 days after February 7, 2014, the Secretary-
A qualified entity that enters into a contract under paragraph (1) may use subcontractors to assist the qualified entity in carrying out the contract.
The authority provided in this section is in addition to any other authority of the Secretary to offer loans under any other law.
Subject to the availability of funds and except as otherwise provided in this section, the loans and other expenditures required to be made under this section shall be available until expended, with the Secretary authorized to make new loans as loans are repaid.
Not later than 120 days after the end of each fiscal year, the Secretary shall publish a description of-
There is authorized to be appropriated to carry out this section $75,000,000 for each of fiscal years 2014 through 2023.
7 U.S.C. § 8107a
EDITORIAL NOTES
REFERENCES IN TEXTThe Rural Electrification Act of 1936, referred to in subsec. (c)(4), is act May 20, 1936, ch. 432, 49 Stat. 1363, which is classified generally to chapter 31 (§901 et seq.) of this title. For complete classification of this Act to the Code, see section 901 of this title and Tables.
CODIFICATIONSection was not enacted as part of title IX of Pub. L. 107-171 which comprises this chapter.
AMENDMENTS2018-Subsec. (b)(2). Pub. L. 115-334, §6303(1), substituted "efficiency (including cost-effective on- or off-grid renewable energy or energy storage systems)." for "efficiency."Subsec. (c)(4). Pub. L. 115-334, §6303(2)(B), added par. (4). Former par. (4) redesignated (5). Subsec. (c)(5). Pub. L. 115-334, §6303(2)(A), redesignated par. (4) as (5). Former par. (5) redesignated (6).Subsec. (c)(5)(B). Pub. L. 115-334, §6303(2)(C), substituted "(7)" for "(6)". Subsec. (c)(6) to (8). Pub. L. 115-334, §6303(2)(A), redesignated pars. (5) to (7) as (6) to (8), respectively.Subsec. (c)(9). Pub. L. 115-334, §6303(2)(D), added par. (9).Subsec. (d)(1)(A). Pub. L. 115-334, §6303(3)(A), substituted "5 percent" for "3 percent" in introductory provisions.Subsec. (d)(1)(D). Pub. L. 115-334, §6303(3)(B), substituted "recurring service" for "electric" in introductory provisions.Subsec. (h). Pub. L. 115-334, §6303(5), added subsec. (h). Former subsec. (h) redesignated (i). Subsec. (i). Pub. L. 115-334, §6303(4), (6), redesignated subsec. (h) as (i) and substituted "2023" for "2018".
- Administrator
- The term "Administrator" means the Administrator of the Environmental Protection Agency.
- Secretary
- The term "Secretary" means the Secretary of Agriculture.
- renewable energy
- The term "renewable energy" means energy derived from-(A) a wind, solar, renewable biomass, ocean (including tidal, wave, current, and thermal), geothermal, or hydroelectric source; or(B) hydrogen derived from renewable biomass or water using an energy source described in subparagraph (A).