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Minnesota Valley Electric Cooperative -Residential Energy Resource Conservation Loan Program

Eligibility 
Residential
Savings Category 
Geothermal Heat Pumps
Equipment Insulation
Water Heaters
Heat Pumps
Caulking/Weather-stripping
Building Insulation
Windows
Doors
Program Info
Sector Name 
Utility
Administrator 
Minnesota Valley Electric Cooperative
State 
Minnesota
Program Type 
Loan Program
Summary 
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:

  • Electric water heater/water heater installation
  • Heat pump installation
  • Heat pump with high efficient gas furnace
  • Electric heating solutions to supplement propane heat
  • Electric heat product installations (i.e. boilers, plenum heaters, garage heaters, etc.)
  • Weatherization improvements (up to $1,500 in loans available for wall, ceiling and floor insulation, thermal windows and 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.