It pays to be in the know
In most cases, our shared customers who make energy efficient upgrades to their home qualify for either a rebate or a 7-year, 0% interest loan, but not both. Other customers, whose income doesn’t exceed allowable maximums, can get both a rebate and a deferred loan. The deferred loan offers those customers a way to make home upgrades now without having to repay the loan until their home sells or changes ownership.
Here are 4 HVAC installation scenarios you might encounter that have specific requirements:
- Ducted CHP that is PTCS certified
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If a ducted CHP is PTCS certified, the customer can select a rebate or a loan, but not both. The rebate is $1,000; the loan is up to $10,000.
- DHP or mini-split combos
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Any mini-split combination system that heats the whole home can get the $1,000 rebate or a loan for up to $10,000. The system must meet these two requirements, which require supporting documentation:
- Heat load: Equipment size must meet the heat load of the whole home. A copy of the heat load calculation must be provided.
- Direct heat source: All major rooms or areas of the home must have a source of direct heat – a duct vent or blower unit/head. A drawing that shows where the ducts/heads will be located must be provided
- HVAC systems that qualify for a rebate or loan
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If the HVAC system doesn’t meet the requirements outlined above, including small homes where a single-head DHP is proposed, the project will qualify for a reduced rebate or loan. The customer can choose between a $500 rebate or a loan up to $4,000, but not both.
- DHP systems installed in customers’ homes who qualify for a deferred loan
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Customers who own their own home that is electrically heated, and have household incomes that do not exceed allowable maximums, might qualify for a deferred loan. With a deferred loan, our shared customers will enjoy the upgrades you make to their home without having to make any payments until they sell the house. The full loan amount is due upon change of ownership. For customers who qualify for a deferred loan, we have another special offer – a bonus rebate, which makes their future loan repayment amount even less. This offer is one of the many ways we try to support our community members in the most need.