Solar & Battery Regulation & Incentive Programs

Haywood EMC - Residential Heat Pump and Weatherization Loan Program

Program Overview

Category:: Financial Incentive
Program Type:: Loan Program
Implementing Sector:: Utility
State:: North Carolina
Eligible Storage Technologies:: Solar - Passive, Solar Water Heat, Solar Space Heat, Solar Thermal Electric, Solar Thermal Process Heat, Solar Photovoltaics, Municipal Solid Waste, Solar Pool Heating, Water Heaters, Heat pumps, Caulking/Weather-stripping, Building Insulation, Windows, Doors
Website:: https://www.haywoodemc.com/heat-pumpweatherization-loan
Maximum Loan:: $35,000 maximum loan
$5,000 maximum for a mobile home
Loan Term:: Repayment terms up to 120 months
Interest Rate:: 3.90%
Administrator:: Haywood EMC
Applicable Sectors:: Residential
Utility:: Haywood Electric Member Corp
Last Updated:: 05/02/2019

Summary

Haywood EMC offers a low interest loan to residential customers to finance the purchase of an energy efficient heat pump and certain weatherization measures. Within this program, Haywood EMC members may borrow up to $35,000 for improvements, including new windows and doors, electric heat pumps, furnaces, air conditioners, generators, solar projects, water heaters, insulation, and ENERGY STAR appliances. The program applies to residential property owners of single-family homes, duplexes, mobile homes, and owner-occupied condominiums. The current interest rate is 3.90% and the loan has a maximum payback time of 120 months. In order to apply for the loan, customers must submit an application online.