Looking to upgrade and achieve greater energy efficiency for a home or a business? Eager to join in global environmental efforts to reduce greenhouse gas emissions and curb carbon pollution? Well, why not do both?
Here’s how you can become part of the effort to help California achieve its goal of drawing 60 percent of its energy from renewable sources by 2030 and 100 percent from zero-emission electric power sources by 2045.
Some of the boards, commissions and authorities overseen by Treasurer Fiona Ma provide financing incentives that can help businesses and homeowners meet these goals. Here is a rundown of a few of the key financing programs offered.
The Residential Energy Efficiency Loan Assistance Program (REEL) encourages homeowners and renters to make energy efficient upgrades to help lower utility bills and conserve natural resources. REEL provides Californians with access to lower cost financing for energy efficiency projects by reducing the risk to lenders. Eligible improvements include Energy Star or Title 20 compliant efficient water heaters, clothes washers and dryers, dishwashers, refrigerators, pool heaters, smart thermostats, whole building fans, HVAC systems, and more.
How it works: Apply for a loan with a REEL lender, or define a project with a contractor. (Find a REEL contractor through the website that follows.) Tell the lender the contractor selected. Lender, or contractor, verifies project eligibility. Begin your project.
For additional information go to: website-qa.treasurer.ca.gov/caeatfa/cheef/reel, or call (916) 651-8157.
The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) issues tax-exempt bonds to finance green projects that help California meet its energy goals. To date, CAEATFA has issued more than $212 million in conduit bond financing for 26 green projects. These include solar, hydroelectric, geothermal, biomass and cogeneration projects that help meet federal and state energy goals.
How it works: To be considered for conduit bond financing submit the information required at https://website-qa.treasurer.ca.gov/sites/default/files/2026-01/information.pdf.
For additional information: Send an email to CAEATFA at caeatfa@treasurer.ca.gov, or call (916) 651-8157.
The California Pollution Control Financing Authority (CPCFA) oversees the issuance of private activity tax-exempt bonds by California businesses that wish to expand their pollution control, waste disposal, recycling, water facilities or recovery services through CPCFA’s Pollution Control Tax-Exempt Bond Financing Program. CPCFA also issues Green Bonds for projects that meet commonly accepted standards for climate investments. The program’s tax-exemption enables companies to lower their borrowing costs, which allows them to maintain lower customer rates while minimizing the need to increase rates. Also available is a tax exemption for manufacturing equipment used to produce alternative energy. Some examples of recent assistance include the purchase of clean air vehicles by waste companies, the construction of anaerobic digesters, conversion of animal waste to clean burning fuel, and the development of construction and demolition debris recycling programs.
How it works: Borrowers contact bond counsel (who must be listed on the State Treasurer’s list of approved firms at /bonds/pools/bondcounsel) to determine if a project qualifies under federal law. Once eligibility is established, contact CPCFA staff to begin the application process. (Also contact staff for more information on tax exemptions for manufacturing equipment used to produce alternative energy.)
For additional information go to: website-qa.treasurer.ca.gov/cpcfa/contacts, or call (916) 654-5610.
The California Capital Access Program (CalCAP) California Air Resources Board (CARB) On-Road Heavy-Duty Vehicle Air Quality Loan Program), also administered by CPCFA, is a “loan loss reserve” program that may provide lenders up to 100 percent coverage on losses from certain loan defaults involving the financing of clean-air trucks. It is an important program for truck owners. With CalCAP support a lender may be more comfortable underwriting a small business loan, especially to a small fleet trucking owner. CalCAP has contributed approximately $113.3 million to lender loan loss accounts since the implementation of the program in 2009, assisting California small business owners with the purchase of 24,246 trucks and the retrofitting of an additional 620. Upgrading 24,000 trucks is the equivalent of removing more than three million polluting cars from state roadways each year.
How it works: Find a participating lender here: https://www.treasurer.ca.gov/cpcfa/calcap/arb/lenders.pdf. If your financial institution does not currently participate, it can sign up using the form here: https://website-qa.treasurer.ca.gov/sites/default/files/2026-01/application.pdf.
For additional information go to: website-qa.treasurer.ca.gov/cpcfa/calcap/arb, or call (916) 654-5610.
The California Capital Access Program (CalCAP) Electric Vehicle Charging Station (EVCS) Financing Program backs loans to small businesses for the design, purchase, and installation of electric vehicle charging stations. This loan loss reserve program may provide up to 100 percent coverage to lenders on loan defaults.
How it works: Businesses apply to a participating lender for a loan. Participating lenders can be found at: https://www.treasurer.ca.gov/cpcfa/calcap/evcs/lenders.pdf). After a business repays the loan, or after 48 months, the borrower may be eligible for a rebate of up to 15 percent of the loan amount. For example, on a $10,000 loan for a charging station installation, after the loan is repaid, the borrower may receive a rebate of up to $1,500.
For additional information go to: website-qa.treasurer.ca.gov/cpcfa/calcap/evcs/summary, or call (916) 654-5610.
Note: Each month we will be sharing information on one of our BCAs and explain how the programs behind the acronym are enhancing the lives of Californians all across the state -- and how you, your family, or your business can share in, and contribute to, California's prosperity