| Headquarters > | Gettysburg > | Shippensburg > | York > | || HABLA ESPANOL? |
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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 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 | Mo. 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
