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Energy Advance

A loan program available to assist Co-op members with energy efficient measures.

With an Energy Advance loan, Coastal Electric members can finance their energy-saving home improvement projects with a low-interest and fixed-rate loan that gets applied to their electric bill.

Th Energy Advance program may be used in an existing home for:

  1. High efficiency heat pumps
  2. Dual fuel systems
  3. Insulation
  4. Thermal windows and insulated doors
  5. Attic ventilation systems
  6. Programmable thermostats
  7. Caulking and weather stripping
  8. Standby emergency generators

What are the terms and conditions of the program?

The maximum amount that can be borrowed for a conservation project is $10,000. The loan is financed for a maximum of 5 years with a low but fixed interest rate and the payments are added to the member's power bill.

A credit report will be required and a credit score of 600 or greater is needed to be qualified for a loan. In addition, a down payment may be required, along with filing and recording fees and other administration costs. All approved loans will have a lein filed on their property and will be removed when the loan is payed off in full.

There are other program requirements and restrictions. Contact a member services rep at 843.538.5700 for the complete details if you are ready to finance your energy conservation project

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