Central Electric Cooperative (CEC) customers with electric water heating are eligible for a low-interest loan through the CEC's lending partner, The Bank of the Cascades. Unsecured loans for 100% of the system cost up to $5,000 are financed at the current prime rate. Loan terms can be up to five years. Costs exceeding $5,000 are financed at 2% above prime. There is no loan fee and no penalty for early payment. In order for installations to be eligible for the loan, customers must select a CEC-approved installer, and submit an application. Work cannot begin until CEC has approved the application. In order to secure a loan, customers must contact the downtown Redmond branch of the Bank of the Cascades for loan approval. Instead of a loan, CEC customers can apply for a $500 solar water heating cash rebate. A customer cannot apply for both the rebate and the low-interest loan.
|Incentive Type:||Loan Program|
|Administrator:||Central Electric Cooperative|
|Eligible Renewable/Other Technologies:||
|Name:||Customer Service - CEC|
|Organization:||Central Electric Cooperative|
2098 N. Hwy. 97
Redmond OR 97756
|Name:||Customer Service - Bank of the Cascades|
|Organization:||Bank of the Cascades|
154 SW Sixth Street
Redmond OR 97756
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.
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