Smart Energy Loan
Borrow for a qualifying heat pump water heater in your home if you are a Santee Cooper residential customer.
Esta oportunidade está atualmente disponível em inglês.
This loan can pay for an ENERGY STAR certified heat pump water heater replacing an existing electric water heater. The unit must be installed according to the manufacturer’s instructions in an attached space that is not heated or cooled.
Borrow $500–$20,000 with no down payment; your total outstanding energy-efficiency loans cannot exceed $20,000. The current interest rate is 5%, fixed for the life of the loan once approved. Loans over $1,000 can be repaid over up to 60 months.
Santee Cooper pays the installer directly after the loan documents are processed. You repay through monthly charges on your electric bill. There is no penalty for paying early, and you must repay the loan when you sell the home or transfer its title.
Eligibility
- You must own the home and have residential electricity service from Santee Cooper. The name on the property deed must match the electricity account. Santee Cooper checks your credit and employment history.
- For the water heater to qualify, the home must be at least five years old, separately metered and on the Residential General Service tariff (RG or its successor). It must be a single-family home or a unit with its own heating, cooling and hot-water systems.
- Use an approved Residential Trade Ally who holds a South Carolina Plumbing Contractor’s License for this water-heater installation.
- The equipment must be new and replace an electric water heater; switching from gas does not qualify. No more than three water heaters per address qualify for rebates, and a water-heater measure rebated within the previous ten years cannot receive another rebate.
- Purchase, installation and programme documentation must fall within 1 December 2025–30 November 2026 for the equipment to be rebate-eligible. Installation must meet applicable codes; removed equipment must be disposed of under applicable rules and cannot be installed elsewhere.
How to apply
- Estado
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- Condições do período de candidaturas
- Credit approval and proposal approval are required before work begins.
- Applications remain active for 90 days.
Complete and sign the linked loan application, including the initials requested on its second page. Mail it to Santee Cooper, ATTN: Smart Energy Loan, 305A Gardner Lacy Road, Myrtle Beach, SC 29579. You can contact the loan team at 843-347-3399. Applications are being accepted through this route and remain active for 90 days.
After your credit application is approved, submit the installer’s proposal and rebate application to Santee Cooper Energy Support Services at the same mailing address or energy.advisor@santeecooper.com. Both the credit application and proposal must be approved before work starts; beginning early may lead to denial of the loan.
Notify your Energy Advisor when installation is complete and arrange the inspection. Complete the loan documents so Santee Cooper can pay the Trade Ally. For the equipment rebate, submit the required documents within 30 business days after installation and by 30 November 2026.