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Efficiency Loans
Runestone Electric Association's Energy Resource Conservation (ERC) loan program is designed to help qualified members finance small-scale home, farm and business energy efficiency improvement projects.
ERC loans are perfect for remodeling projects as they cannot be used for new construction or to refinance existing obligations.
This loan program funds materials and labor if completed by a contractor. If the member wishes to complete the work themselves, funds are available for material only.
ERC Loan details:
5% interest - up to 7 years to repay
Loans up to $3,000 - over $3,000 require board approval
Member must have sound credit rating
Project estimates required before approval
Limited funds available distributed on a first come, first served basis
Monthly installment appears on electric bill
ERC Loan projects include:
Electric heating devices
Heat pumps
Air conditioners
Water heaters
Load management equipment
Insulation projects
Windows
Storm or thermal doors
Attic ventilation fans
And other improvements to improve energy efficiency
An Energy Resource Conservation loan is designed to improve the energy efficiency of your home. Ask our energy experts if your projects qualify. Contact Runestone Electric for more information (320) 762-1121 or (800) 473-1722.