Solar & Battery Regulation & Incentive Programs

City of Plano - Smart Energy Loan Program

Program Overview


Category:
Financial Incentive
Program Type:
Loan Program
Implementing Sector:
Local
State:
Texas
Eligible Storage Technologies:
Solar Water Heat, Solar Photovoltaics, Wind (All), Geothermal Heat Pumps, Solar Pool Heating, Clothes Washers, Dishwasher, Refrigerators/Freezers, Dehumidifiers, Water Heaters, Lighting, Chillers, Furnaces, Heat pumps, Air conditioners, Programmable Thermostats, Duct/Air sealing, Building Insulation, Windows, Custom/Others pending approval, Wind (Small)
Website:
https://www.plano.gov/1378/Smart-Energy-Loan-Program
Maximum Loan:
$25,000
Loan Term:
Determined by BTH Bank
Interest Rate:
Determined by BTH Bank
Administrator:
City of Plano, Credit Union of Texas
Applicable Sectors:
Residential
Last Updated:
07/31/2020
Funding Source
Department of Energy, American Recovery and Reinvestment Act (ARRA)

Eligibility Criteria

EligibilitySectorsTechnologies
min %5.0000
Custom/Others pending approval
Renewable Energy

Summary

The City of Plano offers the Smart Energy Loan (SEL) Program to provide energy efficiency loans to homeowners. In partnership with Credit Union of Texas, Plano provides homeowners with a variety of financing options for energy efficiency upgrades. The SEL loan program will continue to offer future loans as existing loans are paid off. Loan amounts range from $2,500 - $25,000. 

Eligible properties must be owner-occupied existing residential properties to qualify for this loan program. Other requirements include being current on mortgage and property taxes, no bankruptcy or foreclosure history for the past 3 years, and no voluntary liens currently held on property. 

Process

Acceptable energy efficiency design measures are identified by a pre-improvement General Energy Audit with a RESNET certified auditor and presented to the borrower.

A program prerequisite for all SEL loans will be the completion of identified Whole-house Energy Efficiency Package* and a RESNET General Energy Audit Improvement Analysis Report. The Report will identify the home’s baseline rating and assist in prioritizing and completing projects based on energy efficiency improvement, return on investment and existing equipment condition.

Renewable Energy

All applications must achieve at least a 20% energy efficiency improvement (or at least a HERS rating of 85 or better) prior to funding the installation of any on-site renewable or energy generation systems (see complete project eligibility criteria). 

*Whole-house Energy Efficiency Package consists of a minimum of sealing ducts, windows, doors and wall penetrations; HVAC tune-up; attic insulation of at least R=38; insulating/sealing recessed lights in ceilings; installation of at least 50% CFL light bulbs and insulating water heater tanks. In addition, the home will need to demonstrate a .36 reduction in ACH (as measured by 2018 IECC, 405.5.2 (1).Home projects can be excluded from the Whole-house Package prerequisite, through achieving a HERS Index of 125 or below (if built on or before 2000) or below 101 (if built after 2000) or if the systems are for an emergency replacement.