Residential On-Bill Financing Programs - Nicor Gas, North Shore Gas, Peoples Gas, Ameren and ComEd

Program Residential On-Bill Financing Programs - Nicor Gas, North Shore Gas, Peoples Gas, Ameren and ComEd
Category Financial Incentive
Implementing sector Utility
Last Update
State Illinois
Administrator Renew Financial
Website http://www.ilenergyloan.com/
Sectors Residential

*At the end of 2018, Renew Financial will be ending our participation in this program. We will no longer accept new loan applications for the Illinois Energy Efficiency Loan Program as of 4 p.m. CST on December 7, 2018.

The utilities plan to bring in a new provider for this program in 2019. More information about the revised program will be available soon from the utilities.


The Illinois Energy Efficiency Loan Program, administered through Renew Financial and funded by participating utilities, provides loans to customers of Ameren Illinois, ComEd, Nicor, North Shore Gas, and Peoples Gas. Typically, loans of up to $20,000 can be repaid over the course of 3, 5, or 10 years. The interest rate is currently set at 4.99% - 5.74% although certain loan specifications may vary from utility to utility. These on-bill financing loans are designed to be repaid through regular utility bill payments and typically target residential customers, although certain utilities will allow commercial participation.

S.B. 2350 expanded the loan program to include loans of up to $150,000 to retail customers that own multi-family residential or mixed-use buildings with no more than 50 residential units. The interest rate available for these loans is 5.99% or less. 

Each utility has specific energy efficiency products that qualify for energy efficiency loans, as both gas and electric utilities are program participants. Generally, natural gas customers are eligible for financing on furnace purchases if the equipment meets program requirements. Contact your natural gas utility for details on financing for additional equipment. Electric customers may be eligible for financing on appliances, insulation measures and air conditioning systems. View program web site or contact your utility for more details.

Note: The EnergyLoan program is available to Ameren-approved installers, and On-Bill programs fro ComEd, Nicor and Peoples/North Shore customers. 

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