Efficiency Maine offers a variety of home energy loans to help customers pay for energy upgrades.
Maine homeowners of any-income can borrow up to max $25,000 over 10 years with interest rates fixed at 7.99% APR. Eligible upgrades include heat pumps, insulation, and air sealing.
Certain income-eligible households are eligible for up to $7,500 over 10 years with an interest rate fixed at 5.99% APR. Only upgrades eligible for a residential rebate, including heat pumps, insulation, boilers, as well as water heaters and clothes washers, are allowed.
There are no application fees associated with these loans. A late payment is administered that is 5% of the amount due or $10, whichever is less.
For more information, and to apply for a loan, go to Efficiency Maine's website.
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Maine |
| Incentive Type: | Loan Program |
| Web Site: | http://www.efficiencymaine.com/at-home/energy-loans/ |
| Administrator: | Efficiency Maine Trust |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
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| Maximum Loan: | $25,000 (any-income); $7,500 (low-income) |
| Loan Term: | 5 or 10 years (any-income and low-income) |
| Interest Rate: | Fixed at 7.99% (any-income); fixed at 5.99% APR (low-income) |
| Name: | Efficiency Maine |
| Address: |
168 Capitol St., Suite 1 Augusta ME 04330-6856 |
| Phone: | (877) 376-2463 |
| Email: | info@efficiencymaine.com |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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