WSHFC Sustainable Energy Program

The Sustainable Energy Trust (SET), managed by the Washington State Housing Finance Commission (WSHFC), offers low-interest loans for projects focused on energy efficiency or renewable energy. The Commission provides financing up to $1 million at competitive interest rates (dependent on underwriting), with a minimum preferred loan amount of $50,000. SET primarily funds three types of projects:

1. New Construction of Energy-Efficient Single-Family Homes:

   • Projects must surpass the Washington State Energy Code by at least 15%.
   • Available to housing developers; individual homeowners seeking personal financing are not eligible.

2. Energy and Water Efficiency Improvements for Multifamily Housing and Nonprofit Facilities:

   • Projects should achieve at least a 10% reduction in utility usage for existing structures.
   • Loan repayments are designed to be lower than the savings on utilities, offering immediate financial benefits to the property owner. In some cases, loan repayments can be processed through local utility bills, treating the loan as an operational expense.
   • Interest rates generally range from 2% to 4%.

3. Clean Energy Projects:

   • Suitable projects include wind, solar (inclusive of community solar), biodigesters, biomass, combined heat and power, and other clean energy technologies.
   • Loans are open to property owners and developers, excluding single-family homeowners.
   • Interest rates are typically between 2% and 5%.

For projects exceeding $1 million in cost, WSHFC may assist in finding alternative financing solutions.