Cedar Falls Utilities - Energy Conservation Loan Program (Iowa)
Last modified on October 6, 2012.
Financial Incentive Program
|Name||Cedar Falls Utilities - Energy Conservation Loan Program|
|Incentive Type||Utility Loan Program|
|Eligible Technologies||Furnaces, Heat pumps, Central Air conditioners, Building Insulation, Motor VFDs, Geothermal Heat Pumps|
|Energy Category||Energy Efficiency Incentive Programs|
|Amount||up to 10,000|
|Maximum Incentive|| 10,000|
|Terms|| Rate: 0%|
Repayment: One year per 1,000 borrowed (84 loan payment added to monthly utility bill)
|Program Administrator||Cedar Falls Utilities|
The process for acquiring a zero interest loan with CFU begins with inviting a CFU energy specialist to visit the customer's home to identify potential energy savings and collect data to determine the optimum size for any new heating or cooling equipment that may be needed. Customers should get estimates from the vendor of their choice, collect documentation, and deliver it to CFU
Qualifying credit is required for all loans. For loan amounts of $3,000 or more, CFU will refer the application to a local bank for underwriting. After approval notification, the vendor or contractor may complete the project. Customers will then present the final bill to CFU, which will prepare a promissory note and disburse the funds. Loan funds will be disbursed directly to the vendor or to reimburse project costs paid by the borrower and documented with vendor receipts.
Equipment purchased with the loan must meet the following requirements: Gas furnaces - 90% efficient or more with a variable speed DC blower motor. Central Air Conditioner - minimum 14 SEER. Air Source Heat Pump - minimum 15 SEER and 8.0 HSPF, two-stage units. Variable Speed Air Handler - equipped with an ECM motor. Boiler - natural gas-fired - AFUE of 92% or more. Ground source heat pump - minimum 14 SEER rating and COP 3.0 or greater. Insulation - Professionally installed and appropriate for the home’s construction.
|Contact Name||Cedar Falls Utilities Energy Services|
|Department||Cedar Falls Utilities|
|Address||P.O. Box 769|
|Place||Cedar Falls, Iowa|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.