Solar & Battery Regulation & Incentive Programs

First Electric Cooperative - Home Improvement Loans

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Utility
State:
Arkansas
Eligible Storage Technologies:
Geothermal Heat Pumps, Water Heaters, Heat pumps, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Other EE
Website:
http://www.firstelectric.coop/products-and-services/home-improvement-loans
Maximum Loan:
$500- $15,000
Loan Term:
Rate: 5.25% fixed
Repayment: 12 to 60 months
Interest Rate:
Fixed interest rate, No pre-payment penalty.
Administrator:
First Electric Cooperative
Applicable Sectors:
Residential
Utility:
First Electric Coop Corp
Last Updated:
05/08/2019

Summary

First Electric Cooperative, a Touchstone Energy® Cooperative, serves over 85,000 member accounts throughout parts of seventeen counties in central and southeast Arkansas. The Home Improvement Loan Program allows members to borrow between $500 and $15,000 for energy efficiency home improvements associated with heat pumps, First Electric products and portable home generators. Loan repayments can be included in your monthly electric bill. 

For loans under $2500, there is a filing fee of $20; for loans over $2,500, the fee is $60. Only single-family primary residences served by FECC are eligible. Loans between $500 and $2,500 are secured with an equipment lien, and loans over $2500 are secured with a property mortgage and equipment lien.  Loan program applications, specific program details, and a list of approved dealers are available on the program website.