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Stearns Electric Association - Energy Efficiency Loan Program

Last updated: June 10, 2019

Program Overview

Implementing Sector:	Utility
Category:	Financial Incentive
State:	Minnesota
Incentive Type:	Loan Program
Web Site:	https://www.stearnselectric.org/programs-services/efficiency-loan/
Administrator:	Stearns Electric Association
Eligible Efficiency Technologies:	Equipment Insulation, Water Heaters, Heat pumps, Air conditioners, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors
Maximum Loan:	$5,000
Loan Term:	$1,000: 20 months repayment $2,000: 40 months repayment $3,000: 60 months repayment $4,000: 60 months repayment $5,000: 60 months repayment
Interest Rate:	5%

Summary

(ERC) loans. The complete cost of making approved energy conservation improvements may be eligible for financing with an ERC loan at 5% interest. Up to $5,000 for qualifying improvements to homes, businesses, or agricultural buildings at least one year old. The maximum repayment schedule is set at 60 months. Financed improvements to a residence must meet the criteria as outlined by the ERC loan program guidelines. Related costs for materials, equipment, and labor (if done by a contractor) are all eligible for financing. This includes the expenses for electrical wiring, the heating equipment, and/or duct work. A list of eligible measures can be found on the program application form located on the program web site. When applications are completed, return them to the St. Cloud office.

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