Austin Energy - Residential Energy Efficiency Loan Program

Program Austin Energy - Residential Energy Efficiency Loan Program
Category Financial Incentive
Implementing sector Utility
Last Update
State Texas
Administrator Austin Energy
Website https://savings.austinenergy.com/rebates/residential/offerings/home-improvement…
Sectors Residential

Austin Energy offers three types of loans to residential customers to finance energy efficient improvements in eligible homes. Option One requires you to make all mandatory energy efficiency improvements to your home as your participating company recommends. You must also install a new central air conditioning or a heat pump system. The minimum loan is $1,500. Terms vary depending on the length of the loan. Option Two lets you select from the list of recommended improvements. You can replace up to two HVAC systems or convert two window units to central air conditioning. The minimum loan is $1,500. APR is higher in the second loan option. Loan forms can be found on the program web site listed or by following links provided here. The loan may be combined with the rebate program (Home Performance with ENERGY STAR® Rebate + Loan). When combined, the maximum loan offered is $15,000.

Possible Improvements (as recommended by the Registered Contractor):

    Install a new central air conditioning or heat pump system
    Convert window unit(s) to a central air conditioning or heat pump system
    Add attic insulation
    Repair and seal leaking ducts
    Caulk and add weather stripping
    Solar shading or film for windows
    Install attic radiant barrier reflective material (qualified products only)
    Install water heater pipe wrap insulation
    Install heat pump water heaters

All work must be done by a program-approved contractor. For loan pre-approval with Austin Energy's financing partner, Velocity Credit Union, customers can call (512) 469-7060, or toll free (800) 933-2029 (Option #3), or apply online at www.velocitycu.com.

 

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