Energy
Efficiency
Loans
Capital To Empower Homeowners
Capital for Change (C4C) helps homeowners conserve energy usage and decrease costs through audits, retrofits, and alternative/clean energy improvements. C4C offers a variety of loan programs to meet consumer needs, covering improvements ranging from such basics as insulation and heating systems to more advanced products, including solar panels and geothermal systems. Several programs are underwritten based on utility-repayment history rather than on credit reports, offering an opportunity for credit-challenged customers to still take advantage of low rates and achieve energy savings in their homes.
Our Energy Programs - Understanding Which Loan Is Right For You
Smart-E Loans
Homeowners can reduce their energy consumption by making their homes more weathertight with a variety of improvements, including insulation, windows, ENERGY STAR® heating and cooling systems, and solar panels. These “Smart-E” loans from $500 to $40,000 are available with interest rates from 4.49% to 6.99% for 5- to 12-year terms.
Home Energy Solutions Payment Plan (Micro) Loans
Financing for smaller energy-efficiency improvements, such as insulation, that reduce household costs while maintaining healthy, efficient and comfortable homes. Loans may be for $500 to $3,000 and are offered at 0% interest for three years. These loans are limited to Eversource and United Illuminating residential electric customers.
EnergizeCT Heat Loans
A homeowner who is an Eversource or United Illuminating residential electric customer may be eligible for a 0.99% interest loan to purchase and install an energy-efficient heating system. This program requires a minimum down payment that is determined by the new system’s projected energy savings.
Landlord Loan
Making your property more weathertight and energy efficient will assist you in attracting tenants, reducing the property’s energy consumption, and lowering utility bills. Loans may be for $3,000 to $40,000 and funding will be used for conducting qualified improvements/equipment replacements.
Smart-E Loan | EnergizeCT Heating Loan | HES Payment Plan (Micro Loan) | C4C Landlord Loan | |
|---|---|---|---|---|
Security | Unsecured | Unsecured | Unsecured | UCC Filing |
Prepayment Penalty | NO | NO | NO | NO |
Fees | NO | NO | NO | UCC Fee $50 |
Downpayment Required | NO | YES | NO | NO |
HES Assessment Required | NO | NO | YES | NO |
Eligible Improvements | See Table Button Below | Heating System | See Table Button Below | See Table Button Below |
Income Limit Applies | NO | NO | NO | NO |
CT Residency Required | YES | NO | NO | NO |
Owner-Occupancy Required | YES | NO | NO | NO |
Maximum Loan Amount | $40 000.00 | $15 000.00 | $3 000.00 | $40 000.00 |
Minimum Loan Amount | $500.00 | $1 350.00 | $500.00 | $3 000.00 |
Debt to Income Ratio Maximum *waived for higher credit scores | 50%* | N/A | N/A | 50%* |
Minimum FICO | 580 | N/A | N/A | 660 |
Underwriting Basis | Credit Report | Utility History | Utility History | Credit Report |
Eversource / UI Electric Customers Only | NO | YES | YES | NO |
Payments may be added to electric bill | NO | Required | Required | NO |
Repayment Plan | 5-12 years | 3-10 years | 3 years | 5-12 years |
Interest Rate | 4.49% - 6.99% | 0.99% | 0% | 4.49% - 6.99% |
||| We're Here To Help
