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Minnesota Valley Electric Cooperative -Residential Energy Resource Conservation Loan Program

Eligibility 
Residential
Savings Category 
Heat Pumps
Program Info
State 
Minnesota
Program Type 
Utility Loan Program
Rebate Amount 

Heat Pump Installation: up to $5,000
Electric Water Heater and Installation: up to $5,000
Electric Heating Equipment: up to $5,000
Heat Pump Installation: up to $5,000
Weatherization: up to $1,500

Provider 
Minnesota Valley Electric Cooperative

Minnesota Valley Electric Cooperative offers low-interest loans to help residential customers finance energy efficiency improvements through the Energy Conservation Loan Program. ERC Loans can be used for:

  • Caulking
  • Weather stripping
  • Heat pumps and electric water heaters
  • Heat pump installations
  • Electric water heaters
  • Water heater installation
  • Boilers
  • Plenum Heaters
  • Garage Heaters
  • Insulation for ceilings, walls, floors, ducts, pipes and water heaters
  • Thermal windows
  • Storm or thermal doors

ERC loans are available only for replacement items, not for new homes. Loans of up to $5,000 are available for heat pumps, electric water heaters, and other electric heating products.  Weatherization measures are eligible for a loan of up to $1,500. Minimum monthly payments are $25. Loan applications can be accessed from the web site listed above.