ODOE Alternative Fuel Vehicle Loan Program Increases to $3 Million for Qualifying Fleet Projects
Oregon public schools, state and municipal public agencies, and federally recognized tribes interested in expanding their alternative fuel vehicle fleets are eligible for loans through the Oregon Department of Energy. The agency recently increased its Alternative Fuel Vehicle Revolving Loan Fund to $3 million for qualifying fleet projects across the state.
ODOE’s loan program for alternative fuel vehicles offers flexible terms and energy expertise from the agency’s policy and innovation division. In addition to public entities and federally recognized tribes statewide, the loan program is also available to private businesses in the Portland vehicle inspection area and the Medford-Ashland air quality maintenance area.
Under the program, borrowers can use loans to: • Purchase new alternative fuel vehicles • Convert existing gasoline or diesel vehicles to alternative fuels • Offset the cost of alternative fuel vehicle purchases and/or conversions made no more than 60 days prior to the department receiving the loan application.
All vehicle and engine conversions must meet standards instituted by the U.S. Environmental Protection Agency, the National Highway Traffic Safety Administration and the Oregon Department of Environmental Quality.
For information about this loan opportunity, please visit the ODOE website or call John Hobbs at 503-378-5048.
About the Oregon Department of Energy: The Oregon Department of Energy helps Oregonians improve the energy efficiency of their homes, provides policy expertise to prepare for Oregon’s future energy needs, staffs the Energy Facility Siting Council, provides technical and financial assistance to encourage investments in energy efficiency and renewable energy resources, promotes the cleanup of the Hanford nuclear site, and ensures state preparedness to respond to emergencies at energy facilities.