Checklist for Qualifying for Commercial Solar Loan
Albuquerque Renewable Energy Financing District
Compliance Review Process
AREFD Staff will review each application for inclusion of real property in the Albuquerque Renewable Energy Financing District (“District”), before presenting the application to the Board of the District (“Board”) for consideration. Staff review is intended to ensure that each application complies with the requirements of the Renewable Energy Financing District Ordinance.
Staff shall review each application and verify whether the following conditions are satisfied:
- Is the property located in the City of Albuquerque?
- Is the application signed by the property owner (i.e. the legal owner as listed on the current property tax assessment roll and the county clerk’s records for ownership)?
- Does the application satisfy the Section 4-11-4(B) requirements?
- Has the owner agreed to include the property within the District?
- Has the owner agreed to the imposition of a special assessment against the property to pay for the renewable energy improvements?
- Has the owner agreed to record the lien of the special assessment?
- Has the owner agreed to waive any claims against the District, the City and related persons and entities?
- Are the renewable energy improvements eligible for financing under Section 4-11-5?
- Are the improvements a solar photovoltaic system, solar thermal system, geothermal system, or wind energy system?
- Will the improvements be permanently installed on the property?
- Are the costs requested for financing only for labor, materials, accessories, framing, and items necessary or incidental to the installation of the systems, including permitting and engineering costs?
- If the proposed financing amounts include costs of energy efficiency improvements, will those improvements be permanently installed, and are the costs of such energy efficiency improvements less than or equal to 49% of the total amount financed?
- During the financing period, will the renewable energy improvements deliver savings greater than or equal to incremental principal costs of the improvements?
- Is the financing period 20 years or shorter?