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Low-Cost Loan Financing

Take advantage of low rates on loans for energy efficiency improvements and energy conversion systems. Co-op members can borrow up to $35,000 with terms of 1-7 years for the projects listed below. Loans can be repaid with payments added to a member’s electric bill.

Heating/Cooling Systems:
• Heat pump systems which reduce consumption of electricity, including air-source and ground-source systems
• Heat Pump Plus installations
• Electric Thermal Storage (ETS) units
• Other off-peak installations (U-Shift, U-$ave)

Weatherization Projects:
• Caulking and weather stripping
• Insulation (ceiling, wall, floor, duct, pipe, water heater)
• Storm or thermal doors and windows
• Attic ventilation fan installations

Energy conversion systems:
• Solar
• Wind
• Hydropower
• Biomass
• Geothermal

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 4.5%* $146
Geothermal Heat Pump $12,500 4.5%* $174
ETS Heating Units $3,400 4.5%* $47
Other Loans:
Weatherization $6,500 4.5%* $90

*Assumes maximum seven-year repayment period with monthly installments. Sample energy efficient loan amounts, interest rates, and terms.

Interest Rate Options and Monthly Payments

(rounded to closest dollar)

Member Loan Amount 4.00% 4.25% 4.50%
  1 YEAR 2 YEARS 3 YEARS 4 YEARS 5 YEARS 6 YEARS 7 YEARS
$5,000 $426 $217 $148 $113 $93 $79 $69
$10,000 $852 $434 $295 $227 $185 $159 $139
$15,000 $1,277 $651 $443 $340 $278 $238 $209
$20,000 $1,703 $869 $590 $454 $371 $317 $278
$25,000 $2,2129 $1,086 $738 $567 $463 $397 $348
$30,000 $2,555 $1,303 $886 $681 $556 $476 $417
$35,000 $2,980 $1,520 $1,033 $794 $649 $556 $487

* Note: Payments are estimated. Rates vary depending upon the repayment term and are set at 1.5 percent above average 10-year mortgage rates. Rates can generally change quarterly, but once established, are fixed for the life of the loan. A $100 fee is charged for each approved loan to cover costs.

 

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