|Incentive Type:||Utility Loan Program|
|Eligible Efficiency Technologies:||Clothes Washers/Dryers, Refrigerators, Furnaces, Central Air conditioners, Duct/Air sealing, Building Insulation|
General Interest Rate: 4.99%
General Repayment: 3, 5 or 10 years
Up to 20,000
See program web site for details on your utility
The Illinois Energy Efficiency Loan Program, administered through AFC First and funded by participating utilities, provides loans to customers of Ameren Illinois, ComEd, Nicor, North Shore Gas, and Peoples Gas. Typically, loans of up to $20,000 can be repaid over the course of 3, 5, or 10 years. The interest rate is currently set at 4.99% although certain loan specifications may vary from utility to utility. These on-bill financing loans are designed to be repaid through regular utility bill payments and typically target residential customers, although certain utilities will allow commercial participation. Each utility has specific energy efficiency products that qualify for these loans, as both gas and electric utilities are program participants. View the program web site to learn about the products available from each utility company.
Generally, natural gas customers are eligible for financing on furnace purchases if the equipment meets program requirements. Contact your natural gas utility for details on financing for additional equipment. Electric customers may be eligible for financing on appliances, insulation measures and air conditioning systems. View program web site or contact your utility for more details.