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Loans and Rebates

Comfort Loan

This loan offers 5% financing for high-energy efficient heat pumps (15 SEER or higher), insulation, and storm windows. Homes must meet minimum insulation levels for the heat pump loan and homeowners must have their credit approved by Central Electric. Newly constructed homes are not eligible. Contact Central Electric at 800-446-7752 to request a comfort loan application.

  • Who is eligible for financing?

    • Members who have an active electric service account in their name and own their home and property.
    • Homeowners of single family, duplex and triplex dwellings, and manufactured homes if the home is permanently installed.
    • Members whose credit has been approved for the loan program.
  • How much can I borrow?

    • A minimum loan is $1,000 for a heat pump and $500 for other improvements.
    • $3,000 per home is available for improvements for insulation and storm windows.
    • $7,500 per home is available for installation of a high efficiency heat pump.
  • What are the terms?

    • Loans can be repaid over a period of 12 to 60 months with payments made through the homeowner's Central Electric residential service account.
    • Minimum payment is $25 per month.
    • A one-time service fee of 3% of loan amount or minimum of $105.00 will be applied.


 if interested in applying for the Comfort Loan


Heat Pump Rebate

Rebates are available to assist homeowners in buying energy-efficient heat pumps. For new construction and replacement on existing homes, a $200 rebate is available to members who install a heat pump with a minimum 15 SEER efficiency rating.

Ensure your home meets the following standards:

  • Storm doors or insulated metal doors.
  • Attic ventilation that meets building code requirements.
  • Insulation with the following R-values:
    • Attic: R-38
    • Wall: R-15
    • Floor: R-19.
  • Ductwork installed in unconditioned area.


 to apply for the Heat Pump Rebate


Heat Pump Water Heater Rebate

Rebates are also available to assist homeowners in buying energy-efficient heat pump water heaters (HPWH). A $200 rebate is available for Energy Star HPWHs 50 gallons or less that have been installed in the previous 90 days and the old unit has an efficiency factor less than .90.


  • You must receive electric service from Central Electric in the home where the heat pump water heater (HPWH) is installed.
  • The unit must have been newly installed in the 90 days preceding the application to be eligible for the $200 rebate.

System requirements:

  • When replacing an existing unit, the old unit must not have an efficiency factor greater than .90.
  • Energy Star HPWHs 50 gallons or less are eligible for a rebate.
  • Member must submit proof of purchase (a copy of the sales receipt or invoice) and a copy of the yellow EnergyGuide along with application.
  • Installations must comply with all federal, state and local code requirements.
  • Qualified electric HPWH must replace an existing water heater in the same home and the old water heater must be disconnected and removed from the home.


 to apply for the Heat Pump Water Heater Rebate


Water Heater Financing

Central Electric provides financing for heat pump water heaters 50 gallons or less and water heaters in lowboy and standard sizes ranging from 40 to 120 gallon sizes. The cooperative will finance the unit at a low interest rate for 1-2 years as a line item on your bill. In addition to financing, we also offer the convenience of installation by a licensed plumber. This service is available to those whose credit has been approved.


 if interested in water heater financing


Weatherization Assistance Program

The Weatherization Assistance Program helps low-income North Carolinians save energy, reduce their utility bills, and stay safe in their homes. It's mission is to keep North Carolina citizens warm in the winter, cool in the summer, and safe all year long while educating the public about energy efficiency and household safety. The program's focus is on the elderly, the disabled, families with children, high energy users, and the energy burdened.  The N.C. Department of Environmental Quality administers the Weatherization Assistance Program with annual funding from the U.S. Department of Energy.

*Note: Central Electric does not administer this program and is not affiliated with the Weatherization Assistance Program. If you have any questions about your eligibility or to apply for assistance, please contact your local service provider.


for more information on the Weatherization Assistance Program


USDA Single Family Housing Repair Loans & Grants

The United States Department of Agriculture (USDA) also has a loan program available to assist approved low- and -moderate income households make energy-efficient upgrades in their home. To qualify, you must own and occupy the home and have a family income below 50% of the area median income. The maximum loan amount is $20,000 with a fixed interest rate of 1% and repayment period of up to 20 years. Grants up to $7,500 are also available for individuals 62 and older. If you are interested in this federal program, contact our local USDA office at (919) 873-2000. USDA contact information can also be found here.

*Note: Central Electric does not administer this loan and is not affiliated with the USDA Single Family Housing Repair Loans & Grants Program. This is a federal loan and grant program that Central Electric members can take advantage of. If you have any questions about your eligibility or to apply for a loan or grant, please contact our local USDA office.


for more information on the USDA Single Family Housing Repair Loans & Grants program


HERO Rebate

Rebates are available for High Efficiency Residential Option (HERO) built homes. HERO uses two methods to accomplish greater energy efficiency: the Prescriptive Path and the Performance Path. While both are effective and produce energy-efficient homes, Central Electric requires the Performance Path for rebate eligibility due to the involvement of a Home Energy Rating System (HERS) rater throughout the HERO certification process.

In order to be sure that your home meets the HERO requirements completely, we recommend that you read fully the North Carolina Energy Conservation Code (NCECC), which can be found at

One important improvement is a reduction in the fenestration solar heat gain coefficient to 0.30 (from 0.40). This is a 25 percent improvement in heat gain reduction.  Fenestration U-factors were lowered across the state from 0.40 to 0.35, this improvement will be felt the most during the heating season.

Air leakage control in the 2012 NCECC has become a significantly higher priority. Building envelope air tightness must be demonstrated either through compliance with an air sealing checklist or, alternatively, a blower door test that demonstrates delivered air tightness at less than 5 ACH50. When the air leakage test option is elected, the value must be displayed on the building certificate along with all other construction attributes required.

All HVAC ducts must be tested, demonstrating leakage no greater than 6 CFM per 100 square feet of conditioned floor area. Like building envelope testing, tested duct leakage performance values must be shown on the compliance certificate.

Efficiency gains are also delivered through the requirement that at least 75% of the lamps in permanently installed fixtures will be high efficiency lamps.

The HERO program requires the services of a home energy rater and building diagnosticians for duct testing, envelope testing and building modeling, to determine code compliance.

How to receive your HERO rebate

Central EMC members who build or purchase a new HERO built home will qualify for a rebate of $200-$600.  These energy efficiency improvements can save homeowners about $115 per year on utility bills.

In order to apply for a rebate, complete a Central Electric HERO Home application and return it along with all diagnostic testing forms and a REM/Rate Home Summary Report completed by a qualified HERS rater.

If you build a new speculative HERO certified home that receives electricity from Central Electric, you will receive a $400 rebate once the home has been checked for compliance by a licensed independent HERS rater and all appropriate paperwork has been submitted*.

If you purchase a newly built home that has been HERO certified, you will receive a $200 rebate. For members who have a HERO home custom built, you will receive a $600 rebate once the home has been checked for compliance by a licensed independent HERS rater and all appropriate paperwork is submitted*.

Click here for a list of certified raters in North Carolina, as well as a list of specifications for qualifying homes. HERO rebate applications for both contractors and members must be completed and certification verified before rebates are issued. All rebates are contingent upon the final report of an independent HERS rater.


 to apply for the HERO Rebate

*Rebates are subject to change without notice and subject to approval and contingent upon fund availability.

For more information, contact Steven Albert at 919-708-1606 or by email at