Finance an Energy Wise Project
Looking to make your home more energy efficient? MVEC’s Energy Resource Conservation (ERC) loan program helps members finance upgrades like electric water heaters, heat pumps, and other efficient electric heating solutions.
ERC loans are available for
- Electric water heaters and water heater installations
- Heat pump installations
- Heat pumps paired with high-efficiency gas furnaces
- Electric heating solutions that supplement gas heat
- Electric heating product installations such as boilers, plenum heaters, garage heaters, and more
Loan Guidelines
- Up to $5,000 available at a 3.5% interest rate for five years
- Available for replacement equipment only (not for new home construction)
- Minimum monthly payment: $25 — MVEC will set up an amortization schedule and add payments to your monthly electric bill
- Applicants must be MVEC members for at least six months to qualify
- Credit check may be required for approval
- Available only to members participating in Energy Wise® programs. (Products not enrolled in Energy Wise are not eligible for ERC loan funding.)