Eversource, United Illuminating, Connecticut Natural Gas and Southern Connecticut Gas announced that for a limited time interest rates for Energize Connecticut’s Heating Loan Program have dropped from 2.99 % to 0.99 % APR.
The program provides eligible homeowners with financing, up to $15,000, for the purchase and installation of eligible energy-saving heating equipment such as high-efficiency natural gas furnaces, boilers or heat pumps. To qualify, customers must have an Eversource or United Illuminating residential electric account, up-to-date utility bills and own the property where the new equipment will be installed.
“Though we’re in the midst of summer, it’s actually a good time to assess your home’s energy equipment to prepare for the cool fall and winter evenings, which will be here before we know it,” says Enoch Lenge, Eversource energy efficiency spokesman.
“Heating and cooling represent approximately 60 percent of a home’s energy use. By replacing an older furnace with an ENERGY STAR®-certified model, your home’s energy efficiency can improve by up to 16 percent.”
Lenge added, “Customers are also always encouraged to participate in Home Energy SolutionsSM, an on-the-spot, in-home energy improvement service, to further understand and improve how their homes use energy.”
Financing amounts and terms offered through Energize Connecticut’s Heating Loan Program include:
• Up to $15,000 at 0.99% APR for eligible energy-efficient heating equipment
• Finance up to 90% of your project cost, depending on projected energy savings
• Minimum down payment of 10 percent of the cost of the replacement heating furnace or boiler equipment
• Financing term of 3 to 10 years based on the time it takes for the replacement heating furnace or boiler equipment to pay for itself from energy savings, plus two years
• No fees to you or your contractor; no pre-payment penalty
• Payments are incorporated into monthly utility statements. If the property is sold, the balance may be repaid or transferred to the new owner
To apply online, or for more information, please visit ctheatloan.com or call our lending partner, Capital for Change, Inc. (formerly CHIF) at 1-800-992-3665, ext. 2002.
About Energize Connecticut
Energize Connecticut helps you save money and use clean energy. It is an initiative of the State of Connecticut, the Connecticut Green Bank, Eversource, UI, SCG and CNG, with funding from a charge on customer energy bills. Information on energy-saving programs can be found at EnergizeCT.com or by calling 877.WISE.USE.