Modesto Irrigation District - Residential High Efficiency Air Conditioning Loan Program

Summary

The Modesto Irrigation District (MID) High Efficiency Air Conditioning Loan Program provides financing for the installation of qualified central air conditioning and heat pumps. MID has partnered with the Electric & Gas Industries Association (EGIA) to administer this financing program and to work with participating HVAC contractors.

Participating HVAC contractors offer customers receiving utility service from MID unsecured energy efficiency financing at interest rates as low as 9.90% APR. Financing is available only through local air conditioning contractors certified by EGIA and approved by MID for this program. For a list of contractors customers can visit the EGIA web site. The terms of the loan can be negotiated up to 12 years and there is no down payment and no prepayment penalties.

MID also offers a $250 rebate for energy efficient air conditioners and heat pumps. Customers may choose between the financing program and the rebate program. Customers who chose to finance an air conditioning unit through MID are not eligible for the air conditioning rebate.