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 $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:

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 $35,000

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