| Implementing Sector | Utility |
|---|---|
| Category | Financial Incentive |
| State | North Carolina |
| Incentive Type | Loan Program |
| Web Site | https://www.randolphemc.com/financing-electel |
| Administrator | Randolph Electric Membership Corporation |
| Utilities | Randolph Electric Member Corp |
| Eligible Renewable/Other Technologies | Solar Photovoltaics |
| Eligible Efficiency Technologies | Clothes Washers, Dishwasher, Water Heaters, Furnaces, Heat pumps, Air conditioners, Building Insulation, Windows, Doors |
| Applicable Sectors | Residential, Multifamily Residential, Low Income Residential |
| Maximum Loan | $35,000 ($5,000 for mobile homes) |
| Loan Term | Flexible |
| Interest Rate | As low as 4.9% |
As a member of the Randolph Electric Membership Corporation (Randolph EMC), residential customers are eligible for low-interest loans on energy efficiency improvement projects if they join the ElecTel Cooperative Federal Credit Union. Membership may cost as low as $1. Projects available for financing include but aren’t limited to:
Fixed rates are as low as 4.9%, with up to 100% financing of the purchase price. Payment terms are flexible with a maximum loan of $35,000 ($5,000 if a mobile home). See program site for details.
