Haywood EMC - Residential Heat Pump and Weatherization Loan Program

Last updated: May 03, 2019

Program Overview

Implementing Sector:Utility
Category:Financial Incentive
State:North Carolina
Incentive Type:Loan Program
Web Site:http://www.haywoodemc.com/content/heat-pumpweatherization-loan
Administrator:Haywood EMC
Utilities:Haywood Electric Member Corp
Eligible Renewable/Other Technologies:Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Municipal Solid Waste, Solar Pool Heating
Eligible Efficiency Technologies:Water Heaters, Heat pumps, Caulking/Weather-stripping, Building Insulation, Windows, Doors
Maximum Loan:$35,000 maximum loan $5,000 maximum for a mobile home
Loan Term:$35,000 maximum loan $5,000 maximum for a mobile home
Interest Rate:3.90%

Summary

Haywood EMC offers a low interest loan to residential customers to finance the purchase of an energy efficient heat pump and certain weatherization measures. Within this program, Haywood EMC members may borrow up to $35,000 for improvements, including new windows and doors, electric heat pumps, furnaces, air conditioners, generators, solar projects, water heaters, insulation, and ENERGY STAR appliances. The program applies to residential property owners of single-family homes, duplexes, mobile homes, and owner-occupied condominiums. The current interest rate is 3.90% and the loan has a maximum payback time of 120 months. In order to apply for the loan, customers must submit an application online. 

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