Last updated: August 30, 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.
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|kw System size||years Payback period||Lifetime savings|
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