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 $35,000 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:
- 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
- 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|
|Heat Pump Plus||$10,500||4.5%*||$146|
|Geothermal Heat Pump||$12,500||4.5%*||$174|
|ETS Heating Units||$3,400||4.5%*||$47|
*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|
*Maximum loan is $35,000