Solar & Battery Regulation & Incentive Programs

Southeastern Electric Cooperative - Electric Equipment Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Utility
State:
South Dakota
Eligible Storage Technologies:
Geothermal Electric, Geothermal Heat Pumps, Heat pumps, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors
Website:
http://southeasternelectric.com/member-services/loans
Maximum Loan:
Heat Pumps/Electric Heat: Up to $10,000
Weatherization/Insulation: $3,000
Loan Term:
All Heat Pumps/Electric Heat: 7 years (loans over $5,000); 5 years (loans under $5,000)
Weatherization/Insulation: 5 years
Interest Rate:
5%
Administrator:
Southeastern Electric Cooperative
Applicable Sectors:
Commercial, Industrial, Residential, Agricultural
Utility:
Southeastern Electric Coop Inc
Last Updated:
07/31/2020

Eligibility Criteria

EligibilitySectorsTechnologies
max $10000.0000
Commercial
Industrial
Residential
Agricultural
Geothermal Electric
Geothermal Heat Pumps
Heat pumps
Caulking/Weather-stripping
Duct/Air sealing
Building Insulation
Windows
Doors
min $/Unit3000.0000
Commercial
Industrial
Residential
Agricultural
Geothermal Electric
Geothermal Heat Pumps
Heat pumps
Caulking/Weather-stripping
Duct/Air sealing
Building Insulation
Windows
Doors

Summary

Southeastern Electric Cooperative is a member-owned electric cooperative that serves customers in the southeastern part of South Dakota. Southeastern offers a loan program for customers who want to install energy efficient heating and cooling systems in homes or businesses. Loans are also available for those who want to install weatherization measures, such as storm doors, insulation or caulking.

Loans are available at a 5% interest rate for the following:

  • Geothermal, air-to-air heat pumps, or electric heat up to $10,000 for 7 years.

  • Geothermal, air-to-air heat pumps, or electric heat under $5,000 financed for 5 years.
     
  • Weatherization & insulation up to $3,000 for 5 years.

For loan application forms, see the program website above.