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Zero Interest Loans - Multifamily & Residential

loanTacoma Power offers a seven-year, zero-interest loan to qualifying owners of single family homes, multifamily buildings (two to four units) and condo property owners who want to upgrade to a ductless heat pump heating system, install replacement windows or add insulation. 

To qualify, homes must be heated with permanently installed electric heat. 

Eligible customers must have a good payment and credit history with Tacoma Public Utilities. The minimum loan amount is $1,000 and the minimum monthly loan payment is $20. 

Limited Liability Companies, corporations and manufactured homes sited on land not owned by the homeowner are not eligible for the loan. 

If Approved:

  • You can finance multiple measures in one low monthly payment. Your loan amount and payments will be determined by the conservation improvements you choose to finance. Rebates are deducted from the total project cost before the loan amount is determined.
  • Loan must be repaid in equal monthly payments over a period of 84 months. Loan payments are billed separately from your utility bill. There is no penalty for early loan payoff. 

  • And you sell your home, the loan balance must be paid at closing.

  • This loan contract is not transferrable or assumable. 

  • And you wish to refinance your home, you must make arrangements with TPU Customer Service by calling (253) 502-8600 or emailing Once the improvements are complete, a lien is placed on your home until the loan is paid off.

Loan Amount Examples

   Loan Amount       Estimated Monthly Payment   
$1,500 $20
$3,000 $35
$5,000 $60


Loan Eligibility Requirements


  • The installation address must be served by Tacoma Power.
  • The property owner must be the owner of record for the installation address. 
  • The property owner must demonstrate good credit history, including: 
    • A Tacoma Power account with at least a year of service and 5 or fewer credit points.
    • No outstanding debt with Tacoma Public Utilities or the City of Tacoma. 

If your account shows a payment history of less than a year or more than 5 credit points, give us a call and we will make a more detailed review of your account.

Credit points are based on your payment history with Tacoma Public Utilities. They are not related to your credit score. Customers accumulate credit points for things like late or returned payments, credit-related service disconnection or defaulting on a payment arrangement. 

  • The property owner must have received project pre-approval from Tacoma Power and the completed installation must meet all program requirements.
  • Limits apply, please review the program measures and incentives for maximum loan amounts. Financing can include recording fee (Pierce County will charge a $68 recording fee) and sales tax. 

Tacoma Power has the right to deny a customer a loan. Factors may include payment history, outstanding debts, or insufficient proof of ownership. We will contact any property owner if a loan is denied. 


Loan Approval Process

approveThe entire process, from initial conversation to your first loan statement, can vary depending on the circumstances. Being prepared in advance with the proper documentation will help. Contact us at (253) 502-8363 and we can help.

  • Submit the following documents to us: 
    • A signed program application.
    • The contractor bid for each type of work to be completed. 
  • Proof of ownership documents. The name on the Statutory Warranty Deed must match the name on the Tacoma Power account and/or the name listed on the Pierce County Assessor data. If the names do not match, we require additional documentation. 

Depending on the circumstances, we may need additional information to show proof of ownership. Acceptable documentation includes:

  • Quit Claim Deed with the grantor's Deed of Trust or Statutory Warranty Deed.
  • Divorce Decree stating who maintains ownership of the property.
  • Death Certificate, and/or legal instrument granting ownership to the survivor.
  • Certification of trust, showing the trust's beneficiary and trustee signing authority.
  • Certified copy of the marriage certificate, driver's license and social security card.
We review the project, your documents and verify your utility account payment history. This process can take 4-6 weeks. If the loan is approved, we mail the following documents for your signature:
  • Customer Loan Agreement
  • Promissory Note and Notice of Lien, which both require notarization. Our office can do that.
Once we receive these signed and notarized documents, we will issue a Notice to Proceed. Contact your contractor and complete the installation. Once the installation is complete, the contractor will submit your final documentation. 

After the project is complete, inspected and approved by us, payment is made to the contractor on behalf of the customer. We create the loan account in your name and file the lien with the Pierce County Auditor. 

We mail the first loan statement to you 4-8 weeks from the date your project passes inspection. You will receive the statement separately from your utility bill. There is no penalty for early loan repayment. When the loan is paid in full, the lien is removed from the property.

Apply Today!


Contact us at (253) 502-8363 or to discuss your eligibility.

If you have questions about paying the loan bill, contact TPU Customer Services by calling (253) 502-8600.

Program requirements and rebates are subject to change without notice. Tacoma Power does not endorse any particular contractor, retailer, manufacturer or product. Tacoma Power may require additional information before making the final decision whether to approve the conservation loan. The loan filing fee may change at any time. City of Tacoma employees are eligible for the loan.