| Program | Efficiency Maine - Home Energy Loans |
|---|---|
| Category | Financial Incentive |
| Implementing sector | State |
| Last Update | |
| State | Maine |
| Administrator | Efficiency Maine Trust |
| Website | http://www.efficiencymaine.com/at-home/energy-loans/ |
| Start Date | |
| Sectors | Residential |
Efficiency Maine offers a variety of home energy loans to help customers pay for energy upgrades.
Maine homeowners of any-income can borrow up to max $25,000 over 10 years with interest rates fixed at 7.99% APR. Eligible upgrades include heat pumps, insulation, and air sealing.
Certain income-eligible households are eligible for up to $7,500 over 10 years with an interest rate fixed at 5.99% APR. Only upgrades eligible for a residential rebate are allowed.
There are no application fees associated with these loans. A late payment is administered that is 5% of the amount due or $10, whichever is less.
For more information, and to apply for a loan, go to Efficiency Maine's website.
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