Energy Efficiency Financing Program

About the program:

The Energy Efficiency Financing Program is a loan program that helps our members finance energy efficiency improvements such as heating and cooling systems, insulation, sealing, ventilation, water heating, and windows and doors.

Through an agreement with Regions Bank, our members can take advantage of low interest loans to finance these


This program is available to members of EREC who:

  • Have received electric service from EREC for at least one year
  • Own the dwelling
  • Are in good standing with EREC, meaning they are current on utility payments and have made timely payments for the previous 12 months
  • Are approved by Regions Bank

The program is offered to owners of existing homes, including manufactured homes.

Qualifying projects:

  • Heat pump purchase and installation
  • Heat pump tune-up
  • Duct repair or replacement
  • Attic, floor, perimeter or exterior wall insulation (foam or cellulose only)
  • Air sealing
  • Heat pump water heater purchase and installation
  • Water heater blanket and pipe insulation
  • Attic ventilation
  • Insulated doors
  • Energy-efficient windows

All installations and improvements must be performed by a licensed contractor.

Loan Details:

  • Minimum loan – $2,000
  • Maximum loan – $10,000 (weatherization only) OR $20,000 (if including heat pump)
  • APR* – 5.99% (5-year term weatherization only) / 8.99% (10-year term if including heat pump)
  • Billing – monthly statement issued by Regions Bank
  • Fees – no origination fees or recording costs

To Apply For A Loan:

Simply call Regions Bank’s dedicated toll-free energy efficiency loan hotline at 1-800-475-2908.

Additional Information:

  • 90-day approval period (work must be complete within 90 days of loan approval)
  • No prepayment penalty
  • Can finance up to 100% of installation costs (up to the maximum loan amount)
  • Financing available only for qualifying projects performed by licensed contractors.
  • Payment made directly to contractor(s)
  • *Subject to approval, these APRs are subject to change.  Your APR and repayment terms will depend on your amount financed and term of your financing agreement.