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The HES Payment Plan Loan provides low-cost financing for energy efficiency improvements. The objective is to reduce household costs while maintaining healthy, efficient, and comfortable homes. Save energy and money by improving your home's energy efficiency with 0% financing.
We can help you finance these improvements with low-interest loans made possible through sponsorship by the Connecticut Energy Efficiency Fund in partnership with Eversource, the United Illuminating Company (UI), Southern Connecticut Gas Corporation, and Connecticut Natural Gas Company. Loans may be for $500 to $3,000 and funding will be used for conducting qualified improvements/equipment replacements. Non-listed work directly related and necessary to the installation of the listed qualifying measures may be financed along with the qualifying measures at the applicable interest rate (capped at 20% of the total loan amount). HES-IE customers may qualify for additional work to be included in the loan.
Eligibility
*Eversource and UI electric customers
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Applicants must own a single or 2-4 family home (includes condos, mobile homes, and vacation homes) in the State of Connecticut.
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Applicants must participate in the Home Energy Solutions ℠ Program (call 877-WISE-USE (877-947-3873) to arrange a HES assessment for your home).
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Projects that are underway or completed will not qualify for financing. Please do not schedule your project until after you have received your loan documents.
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All work must be completed by a C4C Participating Contractor.
Eligible Improvements (minimum efficiency standards must be met)
The 0% loan is limited to the measures listed below.
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High-Efficiency Insulation - Must conform to current Home Energy Solutions rebate requirements.
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ENERGY STAR® Ductless Heat Pumps - Must meet the EnergizeCT Ductless Heat Pump rebate criteria.
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ENERGY STAR® Electric Heat Pump Water Heaters - Energy Factor (EF) 2.4 or greater.
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ENERGY STAR® Tankless Natural Gas Hot Water Heaters - 0.94 Energy Factor (EF) or greater.
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ENERGY STAR® Indirect/Combination Water Heaters attached to a natural gas ®boiler - 90% (AFUE) or greater.
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ENERGY STAR® Natural Gas Condensing Storage Tank - 95% Thermal Efficiency or greater.
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ENERGY STAR® Replacement windows.
Loan Terms
Eversource electric customers may elect to have loan payments added to their monthly electric bill
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$500 to $3,000 loan amount.
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0% interest rate
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3 year (36 months) repayment term
All work must be completed by a C4C Participating Contractor.
Our Energy Programs - Understanding Which Loan Is Right For You
Smart-E Loans
*** Capital for Change (C4C) is pleased to announce that we have achieved our goals for the Smart-E Loan Program. Consequently, we will be pausing our participation as a lender in the program, effective December 20th, 2023.
Smart-E Loans Homeowners can reduce their energy consumption by making their homes more weathertight with a variety of improvements, including insulation, windows, ENERGY STAR® heating and cooling systems, and solar panels. These “Smart-E” loans from $500 to $50,000 are available with interest rates from 5.99% to 7.49% for 5- to 12-year terms.
EnergizeCT Heat Loans
A homeowner who is an Eversource or United Illuminating residential electric customer may be eligible for a 0.99% interest loan to purchase and install an energy-efficient heating system. This program requires a minimum down payment that is determined by the new system’s projected energy savings.
Landlord Loan
Making your property more weathertight and energy efficient will assist you in attracting tenants, reducing the property’s energy consumption, and lowering utility bills. Loans may be for $3,000 to $40,000 and funding will be used for conducting qualified improvements/equipment replacements.
Smart-E Loan (paused) | EnergizeCT Heating Loan | HES Payment Plan (Micro Loan) | C4C Landlord Loan | |
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Security | Unsecured | Unsecured | Unsecured | UCC Filing |
Prepayment Penalty | NO | NO | NO | NO |
Fees | NO | NO | NO | UCC Fee $50 |
Downpayment Required | NO | YES | NO | NO |
HES Assessment Required | NO | NO | YES | NO |
Eligible Improvements | See Table Button Below | Heating System | See Table Button Below | See Table Button Below |
Income Limit Applies | NO | NO | NO | NO |
CT Residency Required | YES | NO | NO | NO |
Owner-Occupancy Required | YES | NO | NO | NO |
Maximum Loan Amount | $50 000.00 | $15 000.00 | $3 000.00 | $40 000.00 |
Minimum Loan Amount | $500.00 | $1 350.00 | $500.00 | $3 000.00 |
Debt to Income Ratio Maximum *waived for higher credit scores | 50%* | N/A | N/A | 50%* |
Minimum FICO | 580 | N/A | N/A | 660 |
Underwriting Basis | Credit Report | Utility History | Utility History | Credit Report |
Eversource / UI Electric Customers Only | NO | YES | YES | NO |
Payments may be added to electric bill | NO | Required | Required | NO |
Repayment Plan | 5-12 years | 3-10 years | 3 years | 5-12 years |
Interest Rate | 5.99% - 7.49% | 0.99% | 0% | 5.99% - 7.49% |
||| We're Here To Help
Consumer Lending Customer Service
Phone: 1-855-656-5500
Lending@capitalforchange.org
Company: NMLS #276717
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