• The interest rate will be a low rate of 5%. 

• This is Berkeley Electric Cooperative’s incentive to customers to make additional long term energy
  improvements to their homes. 

• Typically the payback on the improvements needs to be within 6 years.

• Measures with high return would be prioritized for customers.  These include
  such items as infiltration improvement, duct work leakage, air flow improvement,
  insulation upgrades and HVAC unit upgrades.

• Building Performance Institute auditors will review the home, develop a recommended
  weatherization summary for the customer and the contractor to bid on the work
  and close on the loan.

• Customers only wanting to implement some of the measures, like heating & cooling unit
  change outs or low energy saving measures like windows, can take advantage of the existing
  Energy Advance Loan Program with Farmers & Merchant Bank.

The general loan process is as follows: (Please note that you must be a member of Berkeley Electric for at least 12 months in order to apply)

1. Customer is interested in making the home more energy efficient or replacing
   an HVAC unit that has failed.

2. Customer applies for loan. Loan applications are available from Berkeley Electric Cooperative’s website or at district offices.

3. After loan approval, a certified auditor will be assigned and will provide recommendations
   to customer, as well as a list of approved contractors to bid on the work.

4. After the loan is closed, the contractor will complete the work. Berkeley Electric Cooperative will conduct a
   post-inspection and gets customer to sign-off, if all work is completed properly.
   Berkeley Electric Cooperative will cut check and pay contractor.  A lien is recorded on property as
   security for the loan.

5. Customers will have payments on their electric bill monthly and have a home
   that is more comfortable and has lower energy bills.

Please note that you must be a member of Berkeley Electric Cooperative for at least 12 months in order to apply.

Members can apply online or download an application.