South Central Indiana REMC - Residential Energy Efficiency Loan Program (Indiana)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||South Central Indiana REMC - Residential Energy Efficiency Loan Program|
|Incentive Type||Utility Loan Program|
|Eligible Technologies||Building Insulation, Central Air conditioners, Doors, Heat pumps, Windows, Geothermal Heat Pumps, Solar Water Heat, Emergency Back-up Generators, Electric Thermal Storage Units|
|Energy Category||Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs|
|Amount|| $2,000 - $10,000
|Maximum Incentive|| $10,000
|Terms|| Rate: 6%|
Repayment: up to 72 months
|Program Administrator||South Central Indiana Rural Electric Membership Corporation|
South Central Indiana REMC offers a 6.0% interest loan for residential customers interested in making energy efficiency improvements to participating homes. The loan can be used for a variety of energy efficient improvements ranging from replacement thermal windows and insulation upgrades to heating and cooling system installations. Heating and cooling equipment must meet the following standards to be eligible: Air-source heat pumps must have a minimum SEER rating of 15.0. Geothermal heat pumps must have a minimum EER rating of 15.1. Dual fuel systems must consist of an air-source heat pump with a minimum SEER rating of 15.0 and a fossil fuel furnace with a minimum AFUE rating of 95%. To apply for the loan, customers should submit an Energy Efficient Loan application form accompanied by a copy of the contractor estimate and a processing fee check for $35 to South Central Indiana REMC.
Length of loan varies from 12 to 72 months. There is a six month grace period in which no payment is required and no interest is accrued. Contact South Central Indiana REMC for any additional information on this program.
|Contact Name||SCIREMC Information|
|Department||South Central Indiana Rural Electric Membership Corporation|
|Address||300 Morton Avenue|
|Phone 2||(800) 264-7362|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.