North Carolina Administrative Code › Title 01 - ADMINISTRATION › Chapter 41 - STATE ENERGY OFFICE › Subchapter C - ENERGY IMPROVEMENT LOAN PROGRAM › Section .0100 - GENERAL PROVISIONS › Section 41C .0101 - DEFINITIONS

Current through Register Vol. 39, No. 2, July 15, 2024
For the purposes of this Subchapter, the following
					 definitions apply:
(1) "Allowable
				  Costs" means origination cost, letter of credit fee (first year), engineering
				  design fee, and implementation of an eligible energy conservation measure. All
				  allowable costs to be included in the loan shall be incurred after the
				  execution date of the Letter of Intent.
(2) Applicant" means any commercial or
				  industrial business, nonprofit organization local government entity, or
				  resident applying for a loan under the Program.
(3) "Combustion efficiency test" means a test
				  performed as part of a heating system maintenance to measure how well the
				  furnace or boiler is performing.
(4) "Commercial or industrial business" means
				  a commercial or industrial concern that provides goods or services for profit
				  from a location in North Carolina.
(5) "Commercially available" means available
				  to the general public and does not include experimental or research-related
				  technologies.
(6) "Credit
				  worthiness" means the ability of the applicant to meet the lending
				  institution's standard lending criteria.
(7) "Energy conservation measure" means a
				  commercially available energy efficient device, technique, or technology,
				  designed to reduce energy consumption, peak demand, or utility costs at an
				  existing or proposed commercial or industrial business, nonprofit organization,
				  local government entity, or residence.
(8) "Financial Services Division" means the
				  Fiscal Management Division within the N.C. Department of Environmental
				  Quality.
(9) "Letter of Intent"
				  means written notification of the Department of Environmental Quality's intent
				  to originate the loan, subject to the conditions and limitations of the Energy
				  Improvement Loan Program.
(10)
				  "Payback" means the total energy conservation measure costs (including
				  installation, equipment, and engineering design) divided by the total annual
				  estimated utility cost savings for a period of years.
(11) "Program" means the Energy Improvement
				  Loan Program.
(12) "Recycling
				  Projects" means projects that extract and reprocess energy, water, and
				  materials for reuse in buildings, transportation systems, environmental
				  management, consumer products, or outreach.
(13) "Renewable" means solar, wind, biomass,
				  or hydropower resources.
(14)
				  "Repayment Schedule" means a schedule of periodic payments based upon payback
				  as projected in the Technical Analysis rounded to the next quarter. Prepayments
				  shall reduce the term of the loan with periodic payments remaining
				  unchanged.
(15) "State Energy
				  Office" means the State Energy Office, Division of Energy, within the N. C.
				  Department of Environmental Quality.
(16) "Technical Analysis " means a report
				  identifying and analyzing the cost-effective capital energy conservation
				  improvements that the applicant wishes to implement.
(17) "Technical Analyst" means a licensed
				  engineer, architect, or certified Home Energy Rating System, "HERS" ®,
				  rater that conducts the technical analysis for the purposes of this
				  Subchapter.
(18) "Third-Party
				  Technical Analyst" means a Technical Analyst who performs the Technical
				  Analysis and does not have a financial interest in the commercial or industrial
				  business, nonprofit organization, residence or local government entity, or in
				  the sale and installation of any proposed energy conservation
				  measure.
(19) "Useful life" means
				  the period during which an asset or property is expected by the manufacturer to
				  continue by the manufacturer to function for the purpose for which the asset or
				  property was acquired.
Authority
					 G.S.
					 143B-344.44(b)(3);
					 143B-344.44(b)(4);
Eff. September 1, 2004;
Readopted Eff. June 1,
					 2021.