Financing

Make conservation improvements & lower your electric bill

MVEC members can finance their energy efficient improvements with an Energy Resource Conservation (ERC) Loan.

ERC Loans Available For

  • Electric water heater/water heater installation
  • Heat pump installation
  • Heat pump with high efficient gas furnace
  • Electric heating solutions to supplement propane heat
  • Electric heat product installations (i.e. boilers, plenum heaters, garage heaters, etc.)
  • Weatherization improvements (up to $1,500 in loans available for wall, ceiling and floor insulation, thermal windows and storm or thermal doors)
  • Contact energy specialists Mike O or Diane S for loan options available

Loan Guidelines

  • $5,000 is available with a 4% interest rate for five years.
  • Available for replacement items only. Loans are not available for new homes.
  • Minimum monthly payments are $25.00 – MVEC sets up an amortization schedule, and payments are added to your monthly electric bill.
  • You must be a member of MVEC for a minimum of six months before you can qualify for an ERC loan.
  • Available for members participating in an Energy Wise program(s). If the member does not put their electric product(s) on an Energy Wise program, they are not eligible.

ERC Loan Application