Energy conservation loan
Borrow for heat pumps, insulation, efficient windows and other approved home energy improvements if you are an established Clay Electric residential member.
Diese Finanzierungsmöglichkeit ist derzeit auf Englisch beschrieben.
Clay Electric lends $1,500–$10,000 for approved improvements to occupied living areas of your home. The listed measures include central, mini-split and packaged heat pumps; duct diagnosis, repair and insulation; ceiling, floor and wall insulation; heat pump window units; electric hybrid heat pump water heaters; double-pane windows; and high-reflectance galvanized metal roofing. Improvements to unattached carports, garages and outbuildings do not qualify.
You repay the loan monthly through your electric bill, at an annual interest rate of either 6% or 9% according to your credit history. The term depends on the amount financed and cannot exceed 84 months. There is no penalty for paying it off early. Every application costs $25, charged to your electric bill; resubmitting an application costs another $25. If the project costs more than $10,000, you must provide proof that you have paid the balance above that amount before the loan money is released.
Clay Electric releases the money after installation, the required inspections and final signatures. Normally, the check is payable jointly to you and the contractor or materials supplier. If you have already paid the full cost, a paid receipt allows the check to be payable to you alone. You are responsible for paying the contractor. Your first repayment is due on the next electric bill after the check is issued. Missed loan payments may lead to disconnection of your electricity; you must pay collection costs, and repay the outstanding loan in full before your electric account is closed or changed.
Eligibility
You can apply as a homeowner with a residential account in Clay Electric’s North Florida service area.
- Your account must have been active for at least 12 continuous months when you apply. Clay Electric reviews your payment history and an Experian credit report. Delinquent payments, non-payment disconnections, unsatisfied judgments or liens, and bankruptcies may disqualify you; accounts restricted to cash-only payments are automatically denied.
- An energy survey by Clay Electric within the past 12 months is required for these energy improvements. The instructions allow some other loan types to be exempt. You need an active phone number and email address, and standard residential billing before payout. Prepaid, budget and time-of-use billing must be converted.
- If your account is joint or both incomes are used to show repayment ability, both applicants must sign. A co-maker, who shares responsibility for the loan, can only be your spouse, must be listed on the account and must also be an active Clay Electric member with 12 continuous months of service. A sole account holder using only their own income needs one signature.
- For a manufactured or modular home, you must own both the home and its land; proof of ownership may be required. In a rental situation, a landowner who is a Clay Electric member may qualify as the applicant.
- Equipment must be new: damaged, scratch-and-dent and refurbished equipment is excluded. Refinancing an existing loan is excluded. Each application requires a formal proposal signed by a licensed contractor, including your service address, equipment brand and model, work details and total cost. All measures need Clay Electric approval.
The conditions depend on the improvement:
- Heat pumps must meet the Florida Energy Code’s minimum efficiency requirements, and installation must meet current Florida energy and electrical codes. Your contractor must include the cost of a “Manual J” calculation in the proposal, then complete and submit it after credit approval; this calculates the heating and cooling capacity needed for your home, and the equipment must be sized accordingly. The contractor must inspect ducts for leaks, list repair or replacement costs separately, and bring modified ducts up to current energy code. In conventionally built homes with attic insulation below R-19, an HVAC retrofit requires improving it to the current code minimum. R-value measures resistance to heat flow. Split-system indoor air handlers need a metal stand, insulated platform box or wall-mounted support, and return-air grilles and ducts must be sized to the manufacturer’s specifications.
- Insulation must serve heated or cooled areas and reach at least current Florida Energy Code standards; unconditioned barns, sheds, garages, porches and metal buildings are excluded. The quote must show the insulation type, area and R-values before and after the work.
- Heat pump window units and electric hybrid heat pump water heaters must meet current US Department of Energy minimum efficiency standards and be used at your account location.
- Double-pane windows must meet the applicable Department of Energy climate-zone limits for heat transfer through the window (U-factor) and solar heat entering through it (Solar Heat Gain Coefficient). They must be properly installed and sealed to minimise air leakage.
- High-reflectance metal roofing must be galvanized, installed by a registered licensed or state-certified roofing contractor, and meet current Florida and county building codes. A county reroofing permit and proof of passed inspection are required. The contractor’s proposal must identify metal type, gauge and quantity, necessary extra work, and verify that the metal meets the Energy Star criteria specified in Clay Electric’s roofing guidance.
How to apply
- Status
- Laufende Antragstellung
- Beschränkungen dieser Antragsrunde
- First-come, first-approved, within available funds.[^c4]
- Applicants need at least 12 continuous months of Clay Electric service.[^c7]
Download the loan application and send the completed form and selected contractor estimate to Energy Services at energyservices@clayelectric.com. You can also mail them to Clay Electric Cooperative, Energy Services Division, PO Box 308, Keystone Heights, FL 32656; deliver them to a district office; or fax them to 352-473-1731. For the programme contact, call 352-473-8000, extension 8263.
Wait for credit approval and Clay Electric’s permission to start work. Arrange the energy survey and, for HVAC heat pumps, the completed Manual J calculation. You must act on credit approval within 30 days and complete the whole loan process within 90 days after the application is received; incomplete applications may be cancelled and need resubmission.
When the work is complete, notify Energy Services to arrange the final inspection. Any required county inspection comes first. All borrowers must be present to sign the final loan documents, including the promissory note and lending disclosure. The equipment must be installed and operating before payout. If you do not complete the final documents, Clay Electric will not release the money and payment obligations to your contractor remain your responsibility.
Applications are considered on a first-come, first-approved basis, within available funds.