Last Updated August 4, 2023
Program Overview
Category:
Financial Incentive
State:
Illinois
Incentive Type:
Loan Program
Administrator:
Renew Financial
Start Date:
N/A
Expiration Date:
N/A
Web Site:
Applicable Sectors:
N/A
Eligible Renewable/Other Technologies:
N/A
Summary
The Illinois Energy Efficiency Loan Program, administered through Slipstream Energy Finance Solutions and funded by participating utilities, provides loans to customers of Ameren Illinois, ComEd, Nicor, North Shore Gas, and Peoples Gas. Fixed rate loan terms: 8.74% interest rate† for 1, 3, 5, 7‡ , and 10‡ years 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 energy efficiency loans, as both gas and electric utilities are program participants. 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.
Note: The EnergyLoan program is available to Ameren-approved installers, and On-Bill programs for ComEd, Nicor and Peoples/North Shore customers.
‡ The loan amount must be greater than $8,000 to utilize a 7 or 10 year loan term