| Implementing Sector | Local |
|---|---|
| Category | Financial Incentive |
| State | Colorado |
| Incentive Type | Loan Program |
| Web Site | https://www.elevationscu.com/energyloans |
| Administrator | Elevations Credit Union |
| Cities | Denver |
| Eligible Renewable/Other Technologies | Solar Water Heat, Solar Photovoltaics, Biomass, Geothermal Heat Pumps, Clothes Washers, Dishwasher, Refrigerators/Freezers, Water Heaters, Lighting, Furnaces, Boilers, Heat pumps, Air conditioners, Duct/Air sealing, Building Insulation, Windows, Doors, Motors, Food Service Equipment, Commercial Refrigeration Equipment |
| Applicable Sectors | Commercial, Residential |
| Maximum Loan | Minimum loan of $1,000 for businesses and $500 for homes |
| Loan Term | Terms range from 36 months to 10 years, 2% loan fee for energy loans over $40,000 |
| Interest Rate | As low as 3.75% APR for businesses and 2.75% for homes |
The Elevations Energy Loan can be used to finance a wide variety of efficiency and renewable energy projects in homes and businesses. Homes and businesses located in Boulder County or the City and County of Denver are eligible for the low-cost financing. Loan applicants receive assistance from an Energy Advisor through EnergySmart and Denver Energy Challenge, respectively. Homeowners must select from a qualified pool of contractors. All borrowers will be required to pay a $25 processing fee and become members of Elevations Credit Union.
Elevations Credit Union has partnered with Boulder County and the City/County of Denver to offer this full-suite of services. Both EnergySmart and the Denver Energy Challenge help residents and businesses identify, finance, and schedule energy improvements in their homes. The “One Stop Shop” provides an energy advisor to each participant. The advisor can assist with scheduling an energy assessment, reviewing contractor bids, and identifying and applying for all applicable incentives.
Rates, terms, and conditions are subject to change and may vary depending on each individual’s credit history and underwriting factors. Residents and businesses in Boulder County can contact EnergySmart at http://www.EnergySmartYES.com or 303-441-1300 (for businesses) and 303-544-1000 (for homes) for more information. Residents and businesses in the City and County of Denver can contact the Denver Energy Challenge at http://www.denverenergy.org or 720-865-5520 for more information. This video also provides additional information.
