What is the Energize CT Heat Loan Program?

If you have questions or need a payoff regarding loans made by Renew Financial, please contact Renew Financial directly at (855) 803-3090.

0.99% APR and up to $15,000 Financing for new Energy Efficiency Heating Systems

If you are a residential customer of Eversource or The United Illuminating Company (UI), you may be eligible for a low-interest loan to purchase and install an energy efficient heating system.

  • Loan installment payments will be billed conveniently on your monthly electric bill
  • Loan amount of up to $15,000
  • 0.99% APR financing For Residential Heating Equipment Upgrades or Conversions for the life of the loan
  • Low monthly payments on loan terms from 3 to 10 years which will result in a monthly payment equal to or less than your projected monthly energy savings
  • Up to 90% of the heating system equipment and installation may be financed depending on projected energy savings – the greater the savings, the lower the down payment

What Improvements Qualify?

Your monthly payment and down payment required will be based on the projected energy savings of the proposed heating system. Your annual energy savings will be calculated in accordance with the current Connecticut Program Savings Documents (PSD) for the list of qualified measures below:

Meets or exceeds specifications listed below as verified by

1) AHRI certificate

  • Oil Boilers
    • AFUE ≥ 87.00%
  • Oil Furnaces
    • AFUE ≥ 85.00%
  • Natural Gas or Propane Boiler
    • AFUE ≥ 90.00%
  • Natural Gas or Propane Furnace
    • AFUE ≥ 95.00%
  • Natural Gas Steam Boiler
    • AFUE ≥ 82.00%
  • Air Source Heat Pumps
    • SEER ≥ 16.00, EER ≥ 12.50, HSPF ≥ 9.00 for Split Systems
    • SEER ≥ 16.00, EER ≥ 12.50, HSPF ≥ 10.00 for Packaged Systems
  • Geothermal Heat Pumps
    • Closed Loop Water to Air EER ≥ 17.1, COP ≥ 3.6
    • Closed Loop Water to Water EER ≥ 16.1, COP ≥ 3.1
    • Direct Expansion Refrigerant EER ≥ 16, COP ≥ 3.6
  • AHRI Rated Ductless Heating and Cooling System of Matched Assembly*
    • Single indoor unit SEER ≥ 20.0, EER ≥ 12.5, HSPF ≥ 10
    • Multiple indoor unit SEER ≥ 18.0, EER ≥ 12.5, HSPF ≥ 9
  • Propane Tanks (purchase only)

*Multi-zone indoor unit ductless systems with only 1 outdoor condenser unit are not subject to the 12.5 EER requirement.

Who is Eligible?

  • Applicant must own the property
  • Residential rate customers of participating utilities
  • Applicant must have their electric account with Eversource or United Illuminating
  • The primary borrower must be the property owner AND be listed on the electric account.
  • Applicants must be current on their electric utility bill and have had either
    • no late payments for the most recent 6 consecutive months; or
    • no more than 2 late payments for the last 12 consecutive months
  • There are no other credit qualifications required, we will not be inquiring about your credit score