Last updated: November 12, 2019
|Incentive Type:||Loan Program|
|Administrator:||Efficiency Maine Trust|
|Funding Source:||Efficiency Maine Trust|
|Eligible Renewable/Other Technologies:||Solar Photovoltaics, Biomass, Geothermal Heat Pumps|
|Eligible Efficiency Technologies:||Water Heaters, Furnaces, Boilers, Heat pumps, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Custom/Others pending approval, Insulation, HVAC|
|Loan Term:||5 or 10 years|
|Interest Rate:||As low as 4.99% APR|
Efficiency Maine offers a variety of home energy loans to help customers pay for energy upgrades. Maine homeowners can borrow up to $15,000 over 10 years with interest rates as low as 4.99% APR. There are no additional fees associated with these loans.
- Homeowners of any income
- Minimum credit score depends on loan type
- Maximum debt-to-income ratio depends on loan type
- 1-4 units
- Occupied year-round (not a vacation home, garage, or barn)
- Located in the state of Maine
- Required: an upgrade eligible for a Home Energy Savings Program rebate
- Optional: Solar PV
- Optional: Health and safety measures if necessary to complete the upgrade (not to exceed 25% of the loan). For Example: Moisture/radon mitigation before air sealing, vermiculite removal before insulation, knob and tube wiring removal before insulation, leaky roof repairs before attic insulation, chimney lining before boiler/furnace replacement, electrical panel upgrade before heat pump installation
- Efficiency Maine Residential Registered Vendor
- While funds are available. Loans have been available since 2011.
For more information, and to apply for a loan, go to Efficiency Maine's website.
Input your address to see if it is solar friendly and how much you can save with solar.
Great. Your address is perfect for solar. Solar incentive is still available. Select monthly utility cost and calculate the size of solar system you will need now.
|kw System size||years Payback period||Lifetime savings|
No money down, 100% finance is available.
Want to go Solar in Maine? Sign Up Here