Minnesota Energy Loan (Minnesota)

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Last modified on February 12, 2015.

Financial Incentive Program

Place Minnesota

Name Minnesota Energy Loan
Incentive Type State Loan Program
Applicable Sector Residential
Eligible Technologies Building Insulation, Caulking/Weather-stripping, Ceiling Fan, Central Air conditioners, Custom/Others pending approval, Duct/Air sealing, Furnaces, Lighting, Water Heaters, Windows, Geothermal Heat Pumps, Photovoltaics, Solar Water Heat
Active Incentive No
Incentive Inactive Date 2013-04-12
Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs
Amount Varies by project

Funding Source Minnesota Housing and Finance Agency (MHFA)

Maximum Incentive $35,000

Terms Loan terms from 1 - 20 years at a fixed rate of 5.75%;

Maximum household income of $96,500

Program Administrator Neighborhood Energy Connection
Website http://thenec.org/financing/minnesota-energy-loan
Date added to DSIRE 2008-06-09
Last DSIRE Review 2012-12-03

References DSIRE[1]


The Neighborhood Energy Connection (NEC) administers the Minnesota Energy Loan, which offers secured, low-interest loans for qualified energy efficiency and renewable energy improvements to Minnesota resident. Loan repayment terms vary from 1 to 20 years according the amount of the loan, and are set at a fixed interest rate of 5.75%. Most costs of this financing offer, including a 1% origination fee, credit report fee, and document preparation fee, can be rolled into the loan. All loans are secured by a mortgage on the property.

Loans of up to $35,000 are available for single family homes, duplexes, and fourplexes with household incomes of $96,500 or less. In order to apply for a loan, qualified homeowners must contact the NEC to schedule an energy audit. The actual improvements undertaken are up to the homeowner, but financed projects must include at least one of the recommendations made by the auditor. The NEC may also provide assistance in selecting a contractor and will perform follow-up inspections at the request of the homeowner. Customers of Xcel Energy may be eligible for a reduced rate on an energy audit and should contact Xcel Energy (1-800-895-4999) directly to request an audit.

Incentive Contact

Contact Name LeAnne Karras
Department Neighborhood Energy Connection

Address 624 Selby Avenue

Place Saint Paul, Minnesota
Zip/Postal Code 55104
Phone (651) 221-4462 Ext:132

Email leannek@thenec.org
Website http://www.thenec.org/

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


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