Washington State Clean Energy Fund
The Clean Energy Fund enables a mix of projects to support development, demonstration and deployment of clean energy technologies. They save energy, reduce energy costs, reduce harmful air emissions and increase energy independence for our state. Clean Energy Fund investments are an opportunity to develop new businesses and jobs, and help strengthen communities across the state.
We believe in protecting our climate and our natural resources. These make our state a great place to live, work and raise families. Clean water and air are important to our quality of life and economy. Protecting our environment is our states obligation for the health and wellbeing of people and communities.
Since 2013, the Washington State Legislature has appropriated $76 million for the Clean Energy Fund. In 2016, the Legislature approved over $100 million in capital budget funds to invest in clean energy and energy efficiency development and deployment.
Grants to Nonprofit Lenders
These grants help support revolving loan funds, proving that a modest public investment can incentivize private investment. The results drive economic activity and jobs for Washingtonians, and help our state lead the nation in energy efficiency.
Our nonprofit partners Craft3 (website), Puget Sound Cooperative Credit Union (website) and the Housing Finance Commission (website) have revolving loan funds that provide access to capital for homeowners and commercial building owners who want to install renewable energy systems and efficiency upgrades.
Grants to Electric Utilities
Demonstration of energy storage and control technologies position Washington State companies as leaders in grid modernization, an important emerging worldwide market sector. Since 2013, the state has invested $14.3 million in smart grid projects that represent more than $35 million in total investment by our state's largest electric utilities.
Soon we'll push the envelope further on distributed power, with potentially game-changing advances in technology, resiliency and reliability. We are on the forefront of entirely new systems and business models for delivering electricity.
Watch a video on PSE's Glacier battery storage project
Grants for Research and Development
These funds are designed to help Washington state clean energy technology research, development and demonstration projects bring in new grant money from the U.S. Department of Energy and other non-state sources. Current investments include recycling scrap carbon fiber from aerospace manufacturing, ocean energy research equipment and demand-response power systems on university campuses.
The RD&D program is not open for applications at this time.
Renewable Energy Manufacturing
This is the newest program in the Clean Energy Fund. It’s a unique combination of financing opportunities targeted to advanced solar and renewable energy manufacturing facilities in Washington State. Commerce partnered with the Washington Economic Development Finance Authority (WEDFA). Economic Development Bonds, issued and sold by WEDFA, are financed with loans made by private lenders to the owners of the facilities financed with the bonds. Commerce may reimburse borrowers for up to 80% of the interest payments they make on their qualifying loan. Only projects approved by WEDFA for economic development bonds are eligible for the interest rate reimbursement from Commerce.