Michigan Saves - Home Energy Loan Program

July 21, 2022


Michigan Saves financing is financial capital made available to customers through a network of lenders that offer favorable terms based on a negotiated contract. This program helps Michigan families and households reduce costs by financing air sealing, heating and cooling systems, insulation, appliances, and more. Homeowners make the upgrades with the help of authorized contractors through an authorized lending partner.

Homeowners are eligible for rates ranging from 4.44% to 7.90% APR, though most customers finance at 5.50% APR. Terms are available up to 15 years with loan amounts ranging from $1,000 to $50,000. Actual rates, terms, and loan amounts vary and depend on the lender you choose and your creditworthiness.

Program Overview

Implementing Sector: Non-Profit
Category: Financial Incentive
State: Michigan
Incentive Type: Loan Program
Web Site: https://michigansaves.org/residential-homes/
Administrator: Michigan Saves
Start Date:
Eligible Renewable/Other Technologies:
  • Solar Water Heat
  • Solar Thermal Electric
  • Solar Photovoltaics
  • Geothermal Heat Pumps
  • Clothes Washers
  • Dishwasher
  • Water Heaters
  • Lighting
  • Furnaces
  • Boilers
  • Air conditioners
  • Combined Heat & Power
  • Programmable Thermostats
  • Duct/Air sealing
  • Windows
  • Doors
  • Other EE
  • Insulation
  • Wind (Small)
  • LED Lighting
  • Tankless Water Heater
  • Level-2 Electric Vehicle Service Equipment
Maximum Loan: Loan terms are one year for every $1,000 up to $4,999.
For loans $5,000 and higher, customer may select term up to ten years (or higher if applicable).
Loan Term: 12-180 months
Rates vary by lender No prepayment penalty


Name: Program Information
Organization: Michigan Saves
Address: 230 N. Washington Ave., Ste. 300
Lansing MI 48933
Phone: (517) 484-6474
Email: info@michigansaves.org

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.