Holyoke Gas & Electric - Residential Energy Conservation Loan Program

Last updated: June 03, 2020

Program Overview

Implementing Sector:Utility
Category:Financial Incentive
State:Massachusetts
Incentive Type:Loan Program
Web Site:http://www.hged.com/customers/save-energy-money/for-home/residential-energy-conservation/default.aspx
Administrator:Customer Service
Utilities:Holyoke City of
Eligible Renewable/Other Technologies:Solar Water Heat, Solar Photovoltaics
Eligible Efficiency Technologies:Equipment Insulation, Water Heaters, Furnaces, Boilers, Air conditioners, Programmable Thermostats, Building Insulation, Windows, Doors, Other EE, Insulation
Maximum Loan:Single-Family Homes: $5,000 Owner-Occupied Multi-Family Dwellings: $10,000 (maximum of $5,000 per unit) Solar: $10,000
Loan Term:General: Up to 5 years Solar: Up to 10 years
Interest Rate:0%

Summary

Holyoke Gas & Electric - Residential Energy Conservation Loan Program

The Holyoke Gas & Electric (HG&E) Residential Energy Conservation Program provides residential customers with loans to help make energy-saving improvements to eligible homes. The loan provides 0% interest assistance, is repayable over up to five years, and is charged to the customer's monthly HG&E bill. Single-family homes are eligible for a maximum of $5,000, and owner-occupied multi-family dwellings with four or fewer units can receive a maximum of $10,000 (maximum of $5,000 per unit). Solar installations are eligible for loans up to $10,000. Solar assistance is available in addition to energy efficiency assistance, but the total maximum loan amount is $10,000 per customer.

The program covers the following home improvements: central air conditioning, gas-fired warm air furnaces, gas-fired steam boilers, gas-fired hot water boilers, electric water heaters, gas storage water heaters, gas-fired instantaneous water heaters, gas conversion burners, indirect water heaters (attached to a gas-fired boiler), attic insulation, wall insulation, floor insulation, basement insulation, heating and hot water piping insulation, rim joist insulation, replacement windows and doors, programmable and/or Wi-Fi thermostats, mini-split/ducted air-source heat pumps, solar photovoltaics, and solar water heaters. Homeowners installing insulation, replacement windows, replacement skylights, or an indirect water heater must have a free home energy audit performed before application submission. All equipment must meet certain energy efficiency standards that are listed on the application.

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