Low-Cost Financing
Take advantage of low rates on energy efficiency loans. Under Adams Electric's Energy Resource Conservation (ERC) and Supplemental Loan program, co-op members can borrow up to $25,000 with terms of 1-7 years for installations in either existing or new housing. Loans are processed by credit application, credit check, credit tests and credit documents.
Co-op members can us ERC loan money for:
Heating/Cooling Systems:
- Heat pump systems which reduce consumption of electricity, including water source and ground source (geothermal);
- Heat pumps and central heating or central air conditioning system replacements and modifications which reduce oil or gas consumption, including Heat Pump Plus installations;
- Electric system coordinated customer owned devices that reduce the maximum kilowatt demand on the electric system, including Electric Thermal Storage (ETS) units; and
- Other demand side management installations.
Weatherization Projects:
- Caulking and Weather Stripping,
- Insulation for Ceilings, Walls and Floors,
- Insulation for Heating/Cooling Ducts,
- Insulation for Water Pipes,
- Insulation for Water Heaters,
- Storm Window Installations,
- Thermal Window Installations,
- Storm or Thermal Door Installations and
- Attic Ventilation Fan Installations.
Supplemental loan money is available for:
If you are an Adams Electric members and are interested in learning more about the co-op's loan program, call toll-free 1-888-232-6732 or 717/334-2171. See the chart below for sample loan amounts and monthly payments.
Qualified loan purposes and average loan information
|
Loan Purpose |
Avg. Loan Amount |
Sample Interest Rate |
Mon. Payment |
|
Heating/Cooling: |
|
|
|
|
Heat Pump Plus |
$10,500 |
5.50%* |
$144 |
|
Geothermal Heat Pump |
$12,500 |
5.50%* |
$180 |
|
ETS Heating Units |
$3,400 |
5.50%* |
$49 |
|
Other Loans: |
|
|
|
|
Weatherization |
$6,500 |
5.50%* |
$93 |
*Assumes maximum seven-year repayment period with monthly installments. Sample energy efficient loan amounts, interest rates, and terms.
|
Member Loan Amount |
Interest Rate Options and Monthly Payments
(rounded to closest dollar) |
|
5.00% |
5.25% |
5.50% |
|
1 YEAR |
2 YEARS |
3 YEARS |
4 YEARS |
5 YEARS |
6 YEARS |
7 YEARS |
|
$4,000 |
$342 |
$175 |
$120 |
$93 |
$76 |
$65 |
$57 |
|
$8,000 |
$685 |
$351 |
$240 |
$185 |
$152 |
$131 |
$115 |
|
$12,000 |
$1,027 |
$526 |
$360 |
$278 |
$228 |
$196 |
$172 |
|
$16,000 |
$1,370 |
$702 |
$480 |
$370 |
$304 |
$261 |
$230 |
|
$20,000 |
$1,712 |
$877 |
$599 |
$463 |
$380 |
$327 |
$287 |
|
$24,000 |
$2,055 |
$1,053 |
$719 |
$555 |
$456 |
$392 |
$345 |
*Maximum loan is $25,000