Clark Public Utilities - Residential Heat Pump Loan Program

NOTICE:  Clark Public Utilities will be discontinuing the residential conservation loan program, effective June 1, 2023.  All approved loans must be funded by September 30, 2023.  Please contact us with any questions, 360-992-3355

Clark Public Utilities offers loans of up to $20,000 for heat pumps. Loans will help customers cover the up-front cost of installing a highly efficient heat pump in a residence. All electrically heated homes, including manufactured homes, are eligible for the heat pump financing program. Customers have up to seven years to repay the loan at a 4.99 percent interest rate. The utility charges a $290 for loans at $7,500 or less; $725 for loans more than $7,500 which can be paid up front or folded into the loan. Customers will be billed monthly for loan payments, separate from regular utility bills. Loans are not transferable and are subject to credit approval. Additionally, minimum insulation requirements must be met either prior to loan approval or in conjunction with heat pump installation. The utility also offers rebates for the installation of heat pumps. Any rebate amount will be credited against the total loan amount.

 

In addition to this loan program, Clark Public Utilities also provides rebates to its residential customers.