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Last Updated March 11, 2024

Program Overview

Category:

Financial Incentive

State:

Minnesota

Incentive Type:

Loan Program

Administrator:

Stearns Electric Association

Start Date:

N/A

Expiration Date:

N/A

Web Site:

https://www.stearnselectric.org/programs-services/efficiency-loan/

Applicable Sectors:

N/A

Eligible Renewable/Other Technologies:

N/A

Summary

Stearns Electric Association, through a program offered by Rural Utilities Services, offers its members low-interest Energy Resource Conservation (ERC) loans. The complete cost of making approved energy conservation improvements may be eligible for financing with an ERC loan at 5% interest. Up to $5,000 for qualifying improvements to homes, businesses, or agricultural buildings at least one year old. The maximum repayment schedule is set at 60 months. Financed improvements to a residence must meet the criteria as outlined by the ERC loan program guidelines. Related costs for materials, equipment, and labor (if done by a contractor) are all eligible for financing. This includes the expenses for electrical wiring, the heating equipment, and/or duct work. A list of eligible measures can be found on the program application form located on the program website.