Home Energy Loan
The Home Energy Loan is a fast, easy, and flexible way to finance home energy projects.
Highlights
- 0% interest financing for low and moderate income Vermonters.
- Finance 100% of your project, up to $20,000.
- Can be processed in as little as two business days.
- Low-to-no closing costs (can be rolled into loan), loan terms of up to 15 years.
Qualifying projects
When installed by an Efficiency Excellence Network (EEN) contractor, eligible projects can include:
- Cold-climate heat pumps
- Central wood pellet heating systems
- Heat pump water heaters
- Weatherization improvements
- Health and safety repairs needed as part of the efficiency improvement (up to 50% of the total loan amount)
Other eligible projects include:
- Cord wood and pellet stoves
- ENERGY STAR appliances
- Refinancing existing Efficiency Vermont residential loans at lower interest rates (if applicable)
Direct-vent or wall-vented space heaters and do-it-yourself weatherization do not qualify for financing through this program.
Vermont Gas customers are only eligible for Home Energy Loans for heat pump water heaters, electric appliances, and ducted, ductless, and ground source heat pumps. Contact Vermont Gas or Efficiency Vermont to learn about other financing options.
Interest Rates
| Household income* | Loan term: 5 years or less | Loan term: between 5 and 10 years | Loan term: between 10 and 15 years |
|---|---|---|---|
| Low | 0% | 1.99% | 2.99% |
| Moderate | 0% | 2.99% | 3.99% |
| High | 4.99% | 5.99% | 6.99% |
*Income limits apply. Contact a lending partner for details and to determine eligibility.
How to apply
- Work with an EEN contractor to obtain a scope of work and price quote for a home weatherization or heating improvement project.
- Complete the project verification form with your contractor.
- Send your project scope of work, price quote and project verification form to a participating lender (Opportunities Credit Union, Vermont State Employees Credit Union, or NeighborWorks of Western Vermont) to complete the financing process and receive payment. Contact Efficiency Vermont for information about participating lenders.
Questions?
Contact us for more information.