ERC loans are available for
- Electric water heater/water heater installation
- Heat pump installation
- Heat pump with high efficient gas furnace
- Electric heating solutions to supplement gas heat
- Electric heat product installations (such as boilers, plenum heaters, garage heaters, etc.)
- $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.
- Please note: at this time, former Alliant Energy members qualify for water heater financing only.
Questions? For more information contact:
Mike Orvick or Michael Hinde
(952) 492-2313 or (800) 282-6832