The Connecticut Green Bank, in association with Energize CT, select local lenders, and contractors, is offering an extraordinarily low rate of 0.99% on home energy improvement loans. The new low rate is being offered as part of the Smart-E Bundle program, which is available when homeowners choose to finance two or more qualifying energy efficiency projects. The rate is also extended to current special single measure promotions such as natural gas conversion and heat pump installations. By bringing the rate down to 0.99%, the Green Bank is encouraging Connecticut residents to both do and save more with multiple energy related home improvements.
There are four types of qualifying bundles that offer popular pairings, including solar PV, high efficiency HVAC improvements, insulation upgrades, and Home Energy Solutions core services. The low interest financing is being offered, in most cases, with no money down on loans spanning 5, 7 or 10 years.
Due to programs like Smart-E, solar energy is helping to power over 23,000 homes in Connecticut. Now with the market seeing a 70% decrease in average project cost, the new lower rate presents one of the best opportunities in years for homeowners who are considering the addition of solar PV to their home.
“Switching to solar just makes good economic sense and Connecticut homeowners are taking advantage of this trend,” said Kerry O’Neill, Vice President, Residential Programs, for Connecticut Green Bank. “Nearly 80% of the homes in this state that have gone solar installed their systems in the last three years.”
The Smart-E Bundle program and promotions on heat pump technologies offer a great opportunity for homeowners to enjoy savings for years to come and potentially increase their property value. General eligibility qualifications for access to Smart-E financing include:
- Residential property must be located in Connecticut
- The property must be owner-occupied
- The property must be a 1 to 4 unit residential building and condominiums must be individually metered
For more information, contact participating contractors or lenders of the Connecticut Green Bank Smart-E program, which can be found here: http://ctgreenbank.com/programs/smart-e-loans/
News item from CGB