We understand that even though a home improvement project will save you money after installation, sometimes the up-front cost can be prohibitive to getting started. That's why we've provided you with these three ways to make your project affordable. En Español
If you're planning to implement energy projects, but lack the upfront capital, your Energy Advisor will help you determine if a low-cost energy loan through the program is right for you.
What is the Loan Process Like?
- You must live in the City or County of Denver. These loans also available in Boulder County through the EnergySmart program.
- You may obtain pre-approval within 2 hours by applying for an Energy Loan online over the phone (303-443-4672).
- Once your application is approved, a loan officer will contact you to set up your membership with the credit union and set up your loan payment structure.
- Work with your energy advisor to determine a loan-eligible project scope.
- Now you are ready to start working with your Contractor on your energy projects!
What makes this loan unique from other home improvement loans?
Some of the benefits include:
- Lower Interest Rates – Loan loss reserves provided by the Department of Energy (DOE) grant offers the ability to provide lower interest rates (no risk premium required).
- Easy Application Process – A simple online or phone application process makes it quick and easy to apply. On average, the application takes only 10 – 15 minutes to complete.
- Appraisal Not Required – Unlike other home or business loans, a property appraisal is not required.
- Energy Advisor Helps Guide Efficiency Improvements – Energy advisor service comes with this loan, independent of any contractor or company offering a loan
- Easy Payment Process That Allows Work Begin Immediately – Loans are based on contractor quotes and payment is made jointly to the borrower and contractor, ensuring the work can begin before payment.
Energy Loans in the News
Our Energy Loan program is catching a lot of attention. Hear what others are saying:
- 9 News: New loan program helps offset energy costs
- Inside Boulder: EnergySmart Loan Program
- New Loan Program Helps Offset Costs of Energy Efficiency Improvements
This credit provides a 10% credit for the purchase of qualified energy efficiency improvements to existing homes. The energy-efficiency home products are retroactive for 2012 and must be “placed in service” before December 31st, 2013. Click here for more info.
Xcel Energy Customers: Any Xcel Rebates that you may qualify for can be combined with your Energy Loan. If you receive a rebate for your project, there is no prepayment penalty if you choose to use it to pay off part or all of your Energy Loan. To find out what rebates you qualify for, talk to your Energy Advisor.
Denver Water Customers: Currently offers a variety of indoor and outdoor rebates for your home. For more information visit their website.
Solar Discount Program: This discount program provides a $500 cash benefit to residents in the City and County of Denver. Visit www.solarcommunities.org for more information and to see which installers are participating.