Energy Conservation Loans

Consumers have many options to choose from regarding how they finance their energy efficiency improvements, and from whom. Here are the best examples of present financing opportunities for consumers.

AFC First Financial Corp./Energy Loan

This program offers unsecured consumer loans for HVAC upgrades and installation. Loans from $1,000-$25,000. Terms of 3, 5, or 10 years. Fixed interest rate, 14.99% max. (and lower). No fees, points or closing costs. For more information go to Only available through your local oil retailer or HVAC contractor.

Connecticut Housing Investment Fund (CHIF)

This is a state-approved residential energy conservation loan program for various improvements, including replacement of electric heating systems with oil-fired systems, replacement windows and roofs, insulation, and more. Interest rates range from 0-6% depending on income, family size, and location of property. Single family homeowners may borrow up to $25,000 (multi-family property owners $2000/unit up to $60,000/building) and finance up to 10 years. The program is available based on income levels up to 200% of the median income of the county that qualified work is being performed in. To determine eligibility, contact CHIF (1-800-992-3665) directly. More information and applications can be found at

GE Capital

You can obtain consumer financing for home improvements and HVAC equipment directly from GE Capital. Their published interest rate is 26.99% though lower introductory promotional rates may be available. See for more information.

Connecticut Energy Efficiency Fund (CEEF)
Residential Energy Efficiency Financing Program

CEEF is a broad-ranging program that includes incentives, rebates, and loans to help consumers save energy through efficiency. It includes, for example, the Home Energy Solutions (HES) program. The loan program is done in conjunction with CHIF and utilities. CL&P customers are eligible for loans from $2,500-$10,000 at a 9.25% interest rate to improve their heating system to an Energy Star, 85% AFUE, oil furnace or boiler. Furnaces must have an air handling performance level of EAE of 2% or better and boilers must have a temperature reset or purge control. Applicants must also participate in the HES program. There is no equivalent oilheat program offered by UI. For more information see


This is another unsecured loan program. It differs from AFC First in that consumers can get a no-interest window, subsidized by the contractor, from 3, 6 or 12 months. If they don't pay the loan in full by the end of that introductory 0% term, then the remaining balance converts to an installment loan at a 17% rate. This program is only available through participating contractors

Clean Energy Finance and Investment Authority (CEFIA) Public Act 11-80

Created by Public Act 11-80, this quasi-public authority has a wide-ranging directive to deploy low-cost capital for clean energy and energy efficiency projects. This Act mandates CEFIA to establish a program to allow residential customers to finance the installation of energy efficient heating oil burners, boilers and furnaces to replace existing inefficient equipment or electric heating systems. Replacement oil equipment must have an efficiency rating of at least 86% and burners must have thermal purge or temperature reset controls. To participate in the program, a customer must first have a home energy audit. Customers who participate in the program must repay the financing as part of their electric utility bill. Financial incentives must provide private financial institutions with loan loss protection or grants to lower borrowing costs. Financial incentives must ensure that the applicant's annual loan payment is no more than the projected annual energy savings less $100. As of the beginning of 2012, CEFIA does not yet have a board of directors and is not operational. For more information on CEFIA, see their website

For more information please contact each one of these loan providers directly. The information presented here is correct as of 1/11/2012 but may have changed since and CEMA bears no responsibility for any changes in any terms, conditions, rates or provisions of programs whose information is presented here.