Amount of loan awarded through EERL program
Leveraged funds from USDA’s Rural Energy for America grant, and state+federal tax credits
Per year of estimated electricity production
Of estimated annual energy savings
In South Carolina, Sportsman Boats took advantage of funding through the State Energy Office to install a rooftop solar photovoltaic array on its manufacturing plant. The system will generate over 20 million kWh over the course of 20 years, saving Sportsman Boats $3 million on its energy bills — enough savings to allow the company to add 100 new jobs.
Sportsman Boats borrowed $800,000 through the State Energy Office’s Energy Efficiency Revolving Loan (EERL) program, which funds energy upgrades for business and industry and is administered in coordination with the South Carolina Business Development Corporation. In addition to EERL funding, Sportsman Boats received a $294,000 grant from the U.S. Department of Agriculture’s Rural Energy for America Program. Taking advantage of both the federal investment tax credit and a 25% state income tax credit, the system has an expected payback of approximately five years.
Contact Information for the South Carolina Energy Office