There are a number of affordable financing options available across Colorado that can help you pay for energy home improvements including a new heat pump or heat pump water heater, or other efficiency or renewable energy investments.
The Colorado Residential Energy Upgrade (RENU) Loan is a statewide residential loan program sponsored by the Colorado Energy Office in partnership with Colorado-based credit unions. It makes home energy upgrades easy and affordable by offering low-cost, long-term financing for energy efficiency and renewable energy improvements. Loans are fixed interest rates starting at 2.75%. The loans require no money down and customers can finance up to 100% of the project cost up to $50,000 over a term of 3 to 15 years, or 20 years for solar PV systems.
UTILITY LOAN PROGRAMS
Several utilities across Colorado offer on-bill financing options for their customers, meaning customers can pay back the costs of equipment over time on their electric bill.
LOCAL GOVERNMENT LOAN PROGRAMS
Boulder County offers low interest, clean energy financing through its EnergySmart loan program through two local credit unions. Energy Loans can be used for a wide range of energy efficiency and renewable energy upgrades including insulation, air sealing, heating, cooling, water heating, windows, solar PV, electric cars and electric bike purchases!
Love Electric aims to accelerate the adoption of heat pumps, heat pump water heaters, and other efficient electric technologies in homes and businesses across Colorado, to lower consumer energy costs, reduce greenhouse gas emissions, and provide improved health, comfort and other benefits. Love Electric is an initiative of the Beneficial Electrification League of Colorado (BEL-CO).