Residential Energy Efficiency Financing Program
Save Energy and Money by Improving Your Home's Energy Efficiency - Finance at 2.99% - 4.99%
Making your home more weather tight with improved insulation, windows, upgrading to ENERGY STAR® heating and cooling systems, improving the efficiency of your hot water equipment - all of these improvements and more will assist you to reduce your energy consumption and can lower your utility bills.
CHIF can help you finance these improvements with low interest loans made possible through sponsorship by the Connecticut Energy Efficiency Fund in partnership with the Connecticut Light and Power Company (CL&P), the United Illuminating Company (UI), Yankee Gas Services Company, Southern Connecticut Gas Corporation, and Connecticut Natural Gas Company.
Loans may be for $2,500 to $20,000 and 100% of funding will be used for conducting qualified improvements/equipment replacements. If improvements/equipment replacements qualifying for 4.99% and 2.99% are bundled together, then the entire package qualifies for 2.99% (with the exception noted below for oil and propane heated homes).
SPECIAL OFFER until June 30, 2012--0% FINANCING for qualified insulation-only improvements (may include air and duct sealing). Loans of $1,000 to $2,500 with a maximum loan term of 36 months to install insulation in homes as recommended by a Home Energy Solutions ℠ Assessment. Rebates also available. This Special Offer applies to homes heated by all fuel types for CL&P customers and applies to homes heated by electricity or natural gas for UI customers. Click here to apply online.
Who is Eligble?
- CL&P and UI Customers
- Applicants must own and occupy a single or two-family home (includes condos and vacation homes)
- Applicants must participate in the Home Energy Solutions ℠ Program (or call 877-WISE-USE (877-947-3873) to arrange a HES assessment for your home) and have obtained their HES assessment within 18 months of the loan application.
Click here to download the Residential Financing brochure
Click here for a list of approved Home Energy Solutions Contractors
Click here for a listing of CHIF Approved Contractors
Click here to apply for the online for a Home Energy loan including the Insulation only 0% loan
Improvements/Equipment replacement Qualifying for 2.99%
High Efficiency Insulation - Must conform to current Home Energy Solutions rebate requirements. Only for natural gas or electric heated homes (oil or propane heated homes may be financed at the current market rate; see below).
ENERGY STAR® Ductless Heat Pumps - Must meet the Connecticut Energy Efficiency Fund Ductless Heat Pump criteria for the $1,000 incentive level and must be installed in a zone that has electric resistance heat as the primary source of heat.
ENERGY STAR® Electric Heat Pump Water Heaters - Energy Factor (EF) 2.0 or greater
ENERGY STAR® Tankless Natural Gas Hot Water Heaters - 0.82 Energy Factor (EF) or greater.
Improvements/Equipment replacements Qualifying for 4.99%
ENERGY STAR® Central Air and Heat Pump Systems - Must meet equipment early retirement criteria, utilize Heating and Cooling System Rebates and QIV Rebate Program. Minimum rating of 14.5 SEER, 12 EER, 8.2 HSPF.ENERGY STAR® Natural Gas Furnaces and Boilers:
ENERGY STAR® Air to Air Heat Pump - replacing electric resistance heat. Minimum rating of 14.5 SEER, 12EER, 8.2 HSPF.
ENERGY STAR® Natural Gas Furnaces and Boilers:
- Furnaces (CEE TierII): 92% AFUE with air handler performance level of 2% or lower
- Boilers 90% AFUE with temperature reset or purge control.
Windows - Gas and Electric heated homes only -ENERGY STAR® replacement windows - must meet HES program eligibility and replacement criteria and is available only for the replacement of single pane windows.
Improvements Qualifying for Market Rate (currently 9.25%) - CL&P Customers only
Geothermal Systems (must meet 2012 ENERGY STAR® criteria) - Home must meet current HES program guidelines. http://www.ctenergyinfo.com/hes
CL&P may offer financing at current market rates for the following qualifying energy efficiency improvements for oil or propane heated homes:
- High Efficiency Insulation - Must conform to current HES requirements (does not qualify for HES rebate).
- Oil/Propane Heating Equipment - Propane furnaces: 92% AFUE with air handler performance level EAE of 2% or lower. Propane boilers: 90% AFUE with temperature reset or purge control. Oil furnaces and boilers must be ENERGY STAR® (85% AFUE). Furnaces must have an air handling performance level EAE of 2% or lower. Boilers must have temperature reset or purge control.
- Windows - ENERGY STAR® replacement windows: must meet HES program eligibility and replacement criteria and are available only for the replacement of single pane windows.
Click here for a more detailed listing of Eligible Improvement Measures
Click here to apply online for an Home Energy loan
Click here for a listing of CHIF Approved Contractors
Improvements that have unproven savings (including fuel oil catalyst products, radiant barriers, and power correction devices) will not be financed.
Guidelines effective for all applications recieved on or after June 1, 2011.* For more information on ENERGY STAR® please go to www.energystar.gov. HES and Residential Financing are low-cost initiatives supported by the Connecticut Energy Efficiency Fund.
*Some improvements are eligible for financing to CL&P customers at market rates.
