| myHome > | myBusiness > | myCommunity > | Contact Us > | || HABLA ESPANOL? |
 |
|
Low-Cost Financing
Take advantage of low rates on energy efficiency loans. Under Adams Electric's Energy Resource Conservation (ERC) and Supplemental Loan program, co-op members can borrow up to $25,000 with terms of 1-7 years for installations in either existing or new housing. Loans are processed by credit application, credit check, credit tests and credit documents.
Co-op members can us ERC loan money for:
Heating/Cooling Systems:
- Heat pump systems which reduce consumption of electricity, including water source and ground source (Geothermal)
- Heat pumps and central heating or central air conditioning system replacements and modifications which reduce oil or gas consumption, including Heat Pump Plus installations
- Electric system coordinated customer owned devices that reduce the maximum kilowatt demand on the electric system, including Electric Thermal Storage (ETS) units
- Other demand side management installations
Weatherization Projects:
- Caulking and Weather Stripping
- Insulation for Ceilings, Walls and Floors
- Insulation for Heating/Cooling Ducts
- Insulation for Water Pipes
- Insulation for Water Heaters
- Storm Window Installations
- Thermal Window Installations
- Storm or Thermal Door Installations
- Attic Ventilation Fan Installations
Supplemental loan money is available for:
- Ground source heat pump installations
- Heat Pump Plus
- Electric Thermal Storage
- Other demand side management installations.
If you are an Adams Electric members and are interested in learning more about the co-op's loan program, call toll-free 888/232-6732 or 717/334-2171. See the chart below for sample loan amounts and monthly payments.
Qualified Loan Purposes and Average Loan Information:
| Loan Purpose | Avg. Loan Amount | Sample Interest Rate | Mo. Payment |
| Heating/Cooling: | |||
| Heat Pump Plus | $10,500 | 5.00%* | $148 |
| Geothermal Heat Pump | $12,500 | 5.00%* | $177 |
| ETS Heating Units | $3,400 | 5.00%* | $48 |
| Other Loans: | |||
| Weatherization | $6,500 | 5.00%* | $92 |
*Assumes maximum seven-year repayment period with monthly installments. Sample energy efficient loan amounts, interest rates, and terms.
|
Member Loan Amount |
Interest Rate Options and Monthly Payments (rounded to closest dollar) | ||||||
| 4.50% | 4.75% | 5.00% | |||||
| 1 YEAR | 2 YEARS | 3 YEARS | 4 YEARS | 5 YEARS | 6 YEARS | 7 YEARS | |
| $4,000 | $342 | $175 | $119 | $92 | $75 | $64 | $57 |
| $8,000 | $683 | $349 | $238 | $183 | $150 | $129 | $113 |
| $12,000 | $1,024 | $524 | $357 | $275 | $225 | $193 | $170 |
| $16,000 | $1,366 | $698 | $476 | $367 | $300 | $258 | $226 |
| $20,000 | $1,708 | $873 | $595 | $458 | $375 | $322 | $283 |
| $24,000 | $2,049 | $1,048 | $714 | $550 | $450 | $386 | $339 |
*Maximum loan is $25,000
