Central Electric Cooperative - Solar Water Heater Loan (Oregon)

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Summary

Last modified on May 24, 2011.

Financial Incentive Program

Place Oregon

Name Central Electric Cooperative - Solar Water Heater Loan
Incentive Type Utility Loan Program
Applicable Sector Residential
Eligible Technologies Solar Water Heat
Active Incentive No

Implementing Sector Utility
Energy Category Renewable Energy Incentive Programs
Amount 100% financing up to 5,000; maximum loan term is five years; interest rate is the current “prime”

lending rate. Costs >5,000 are financed at 2% above prime.
Maximum loan term is 60 months.
No loan fee, no penalty for early payment.



























Program Administrator Central Electric Cooperative
Website http://www.cec-co.com/prodserv/renewable/solar_water_heater/solar_water_heater.html
Date added to DSIRE 2007-03-07
Last DSIRE Review 2009-03-25



References DSIRE[1]


Summary

Central Electric Cooperative (CEC) customers with electric water heating are eligible for a low-interest loan through the CEC's lending partner, The Bank of the Cascades. Unsecured loans for 100% of the system cost up to $5,000 are financed at the current prime rate. Loan terms can be up to five years. Costs exceeding $5,000 are financed at 2% above prime. There is no loan fee and no penalty for early payment.

In order for installations to be eligible for the loan, customers must select a CEC-approved installer, and submit an application. Work cannot begin until CEC has approved the application.

In order to secure a loan, customers must contact the downtown Redmond branch of the Bank of the Cascades for loan approval.

Instead of a loan, CEC customers can apply for a $500 solar water heating cash rebate. A customer cannot apply for both the rebate and the low-interest loan.


Incentive Contact

Contact Name Customer Service - CEC
Department Central Electric Cooperative

Address 2098 N. Hwy. 97
Address 2 PO Box 846
Place Redmond, Oregon
Zip/Postal Code 97756
Phone (541) 548-2144


Email customerservice@ce-co.com
Website http://www.hometownutility.com/Default.htm
Contact Name Customer Service - Bank of the Cascades
Department Bank of the Cascades
Division Redmond Branch
Address 154 SW Sixth Street

Place Redmond, Oregon
Zip/Postal Code 97756
Phone (541) 504-2200



Website http://www.botc.com/index.cfm?objectid=2EE1D894-BD97-3AFC-C9A0F80CA329B69E
     

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"