Solar & Battery Regulation & Incentive Programs

Holyoke Gas & Electric - Commercial Energy Conservation Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Utility
State:
Massachusetts
Eligible Storage Technologies:
Solar Water Heat, Solar Photovoltaics, Lighting, Caulking/Weather-stripping, Building Insulation, Windows, Motors, LED Lighting, HVAC
Website:
http://www.hged.com/customers/save-energy-money/for-business/commercial-energy-conservation/default.aspx
Maximum Loan:
Multi-Family Investment Properties: $20,000 ($2,500 maximum per unit)
Solar: $10,000
Loan Term:
General: Up to 5 years
Solar: Up to 10 years
Interest Rate:
0%
Administrator:
Holyoke Gas and Electric Department
Applicable Sectors:
Commercial, Industrial, Federal Government, Multifamily Residential
Utility:
Holyoke City of
Last Updated:
06/03/2020

Summary

Holyoke Gas & Electric's Commercial Energy Conservation Program offers zero interest loans to its commercial customers who are making energy efficiency improvements to facilities. The applicant must obtain cost estimates from contractors before turning in the application. The payback period of the loan is flexible depending on the amount of assistance requested, but cannot exceed five years. Monthly payments are included on the customer's electric bill. All assistance requests greater than $5,000 require approval by the Holyoke Gas & Electric Commission.

Eligible measures include (but are not limited to): lighting improvements; installation or upgrading of gas fired boilers, furnaces, conversion burners, water heaters, and central air conditioning systems; weatherization upgrades; and solar photovoltaic or solar hot water installations. Participating facilities must receive gas or electric service from Holyoke Gas & Electric in order to qualify. More information on terms and eligible measures is located on the program application.