South Central Indiana REMC offers a 6.0% interest loan for residential customers interested in making energy efficiency improvements to participating homes. The loan can be used for a variety of energy efficient improvements ranging from replacement thermal windows and insulation upgrades to heating and cooling system installations. Heating and cooling equipment must meet the following standards to be eligible: Air-source heat pumps must have a minimum SEER rating of 15.0. Geothermal heat pumps must have a minimum EER rating of 15.1. Dual fuel systems must consist of an air-source heat pump with a minimum SEER rating of 15.0 and a fossil fuel furnace with a minimum AFUE rating of 95%. To apply for the loan, customers should submit an Energy Efficient Loan application form accompanied by a copy of the contractor estimate and a processing fee check for $35 to South Central Indiana REMC.
Length of loan varies from 12 to 72 months. There is a six month grace period in which no payment is required and no interest is accrued. Contact South Central Indiana REMC for any additional information on this program.