Energy Conservation Loan Program for Residential Homeowners

Energy Conservation Loans are available for new electric energy star rated (Minimum 14 SEER based on U.S. Department of Energy) HVAC systems, water heaters, programmable thermostats and insulation. Loan proceeds may also be used towards replacement, if deemed necessary, or testing, repair and sealing of ductwork and doors. Window A/C units, screen doors and storm doors are specifically excluded. Gas appliances are not covered under the Energy Conservation Loan Program. Loans are zero (0) percent interest, financed for 60 or 90 months and up to $10,000 with no penalty for early payoff. Only one loan can be active at any one time per applicant.

The goal of the program is to lower energy consumption and therefore lower out of pocket expenses for utility customer, bearing in mind that the full savings may not be realized until the loan balance is paid in full.

Participant: In order to participate in the program, participant must be the homeowner or landlord and must be a residential electric customer of Albany Utilities. If spouse is applying for the loan, their name will have to be added to the utility account.

Qualifications:

1. Customer will be required to complete and submit an application in its entirety.

2. Customer must submit their installing contractor's proposal and/or vendor's price proposal. All equipment purchased must be Energy Star Rated (Minimum 14 SEER based on U.S. Department of Energy). Do not purchase equipment or have the work started before the loan is formally approved.

3. No income eligibility requirements. 12-month account history required. Loan applications will be approved or disapproved on the basis of established program criteria, availability of funds, and City of Albany utility payment history. No service fees and no more than one late fee assessed in the previous 12 months.

4. A Loan Promissory Note and Security Deed will be prepared for the customer's signature.

5. Customer must submit a copy of the current Warranty Deed or Quit Claim Deed in their name with the application. No watermark copies will be accepted.

6. A complimentary Energy Assessment will be provided by the City.

Use the button below to start the loan process.