Berkeley Electric Cooperative provides HomeAdvantage Loans to qualifying homeowners for energy efficiency upgrades to residences. Measures typically include air infiltration measures, insulation measures, duct work leakage, air flow improvement and HVAC system upgrades. Loans of up to $15,000 are available through this offering and must produce a reasonable return on investment as determined by Berkeley Electric Cooperative. Typically, measures must produce adequate savings to repay the loan within 6 years. The program web site contains a loan calculator that interested customers can use to determine a projected monthly loan payment.
Energy auditors will review the home and create a recommended plan for weatherization and efficiency upgrades. Customers who wish to use the HomeAdvantage loan must undertake all of the recommended upgrades. Should a customer wish to only implement some of the measures, they may take advantage of the Energy Advance Loan Program offered in partnership with Farmers & Merchant Bank. This loan program is more flexible but has interest rates will vary.
Contact BEC for information on the program or visit the program web site listed above.
| Implementing Sector: | Utility |
| Category: | Financial Incentive |
| State: | South Carolina |
| Incentive Type: | Loan Program |
| Web Site: | https://www.berkeleyelectric.coop/homeadvantage-loan-program |
| Administrator: | Berkeley Electric Cooperative |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: |
HomeAdvantage: $15,000 Energy Advance: $500 minimum, $10,000 maximum |
| Loan Term: |
HomeAdvantage: typically <6 years Energy Advance: 7 year maximum |
| Interest Rate: |
HomeAdvantage Rate: 5% Energy Advance Loans: 9-10.5% |
| Name: | Customer Service - Berkeley |
| Organization: | Berkley Electric Cooperative |
| Address: |
SC |
| Phone: | (800) 327-9615 |
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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