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
- 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
- Attic Ventilation Fan Installations
Supplemental loan money is available for:
- Ground source heat pump installations
- Heat Pump Plus
- Electric Thermal Storage
- Other demand side management installations.
If you are an Adams Electric members and are interested in learning more about the co-op's loan program, call toll-free 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 | Mo. Payment |
| Heating/Cooling: | |||
| Heat Pump Plus | $10,500 | 4.5%* | $146 |
| Geothermal Heat Pump | $12,500 | 4.5%* | $174 |
| ETS Heating Units | $3,400 | 4.5%* | $47 |
| Other Loans: | |||
| Weatherization | $6,500 | 4.5%* | $90 |
*Assumes maximum seven-year repayment period with monthly installments. Sample energy efficient loan amounts, interest rates, and terms.
|
Interest Rate Options and Monthly Payments (rounded to closest dollar) |
|||||||
| Member Loan Amount | 4.00% | 4.25% | 4.50% | ||||
| 1 YEAR | 2 YEARS | 3 YEARS | 4 YEARS | 5 YEARS | 6 YEARS | 7 YEARS | |
| $4,000 | $341 | $174 | $118 | $91 | $74 | $63 | $56 |
| $8,000 | $681 | $347 | $236 | $182 | $148 | $127 | $111 |
| $12,000 | $1,021 | $521 | $354 | $272 | $222 | $190 | $167 |
| $16,000 | $1,362 | $695 | $472 | $363 | $296 | $254 | $222 |
| $20,000 | $1,703 | $868 | $590 | $453 | $371 | $317 | $278 |
| $24,000 | $2,043 | $1,042 | $709 | $544 | $444 | $381 | $334 |
*Maximum loan is $25,000
