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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 whose home is served by Central Electric.
    • 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.

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.

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.

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.

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 www.energycodes.gov.

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.

Rebate forms may be e-mailed to Janet Jackson or Nancy Gust. They may also be printed and returned to the co-op.

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

For more information, contact Nancy Gust or Janet Jackson at 800-446-7752.