Minneapolis Energy Efficiency Loan
A 0% APR loan helps income-eligible Minneapolis homeowners pay for insulation, efficient heating and other qualifying home energy upgrades.
Această oportunitate este disponibilă momentan în limba engleză.
Borrow $2,000–$20,000 and repay it over up to ten years, depending on the amount. The City of Minneapolis offers the loan through Center for Energy and Environment (CEE). It is secured by a mortgage on your property, and closing fees apply. CEE reviews your credit as part of qualifying you for the loan.
The loan can cover up to 100% of total project cost, including utility rebates but excluding the Minneapolis Bonus Rebate. All Energy Efficiency Interest Subsidy Loans together cannot exceed $20,000 per year.
Qualifying improvements include attic air sealing and insulation, wall insulation, triple-pane windows replacing single-pane windows, air-source heat pumps and ENERGY STAR-certified heat-pump water heaters. Gas furnaces and boilers qualify only with a qualifying air-source heat pump. Electrical panel upgrades must increase the existing panel’s amperage and accompany a qualifying air-source heat pump or heat-pump water heater. Related health and safety work can include combustion safety, old knob-and-tube wiring, asbestos removal and ventilation.
Eligibility
- You must own and occupy a home in the City of Minneapolis with one to four residential units. Individually owned townhomes, twin-homes and condominiums qualify. Properties with more than four units, cooperatives, manufactured homes, properties held in a trust, commercial properties and new construction do not qualify.
- Household income must not exceed 150% of area median income, adjusted for household size, using adjusted gross income on your most recent federal tax return. The income CEE uses to verify your ability to repay must also be no more than $196,600.
- Your property must have had a Home Energy Squad visit or a Truth in Sale of Housing Energy Disclosure report within three years of loan closing. These are the required home-energy assessment routes; Home Energy Squad visits are free for Minneapolis residents while funds last.
- Attic work must combine air sealing with insulation reaching R49, or as much as possible. Wall insulation must reach R11, or as much as possible. R-values specify the insulation level. Replacement windows must be triple-pane ENERGY STAR Northern Climate version 7 windows replacing single-pane windows.
- Heat pumps must meet the loan’s published ratings. Standard non-ducted units require 15.2 SEER2, 9.3 EER2 and 8.5 HSPF2; standard ducted or mixed-ducted units require 15.2 SEER2, 9.6 EER2 and 7.8 HSPF2. These are cooling and seasonal heating efficiency ratings to check with your contractor against the loan table.
- Cold-climate non-ducted heat pumps require 16 SEER2, 9.0 EER2 and 9.5 HSPF2; cold-climate ducted or mixed-ducted systems require 15.2 SEER2, 10 EER2 and 8.1 HSPF2. Both must have a coefficient of performance of at least 1.75 at 5°F and retain at least 70% of their 47°F heating capacity at 5°F. These additional tests check performance in cold weather.
- Gas furnaces must have at least 96% annual fuel utilization efficiency (AFUE), and boilers at least 95%, with a qualifying air-source heat pump. AFUE is the listed heating-efficiency percentage. Heat-pump water heaters must be ENERGY STAR certified.
- Get one bid from a contractor properly licensed or registered with Minnesota’s Department of Labor. The contractor must complete a Supplemental Application and do the work; do-it-yourself projects are excluded. Check permit requirements with City inspections, and the contractor should obtain any required permit.
- Do not start work before the loan is approved and closed. Finish within 270 days of closing; CEE may make exceptions case by case.
How to apply
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- Funds are available on a first-come, first-served basis. Contact CEE’s named loan staff to apply.
Contact CEE’s Janson Hunter at jhunter@mncee.org or 612-335-5873, or Jordan Bothun at jbothun@mncee.org or 612-464-5138, to discuss the loan and apply. Spanish-language assistance is available at 612-335-5856. Funds are available on a first-come, first-served basis.