Michigan Saves: Home Energy Loan Program
Loans for energy efficiency improvements including windows, HVAC, water heaters, appliances, solar and more.
Learn more about this energy rebate or
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who knows about this rebate and will help you get started.
Michigan Saves is a non-profit that offers financing options for energy efficiency improvements throughout Michigan. The Home Energy Loan Program was started with seed funding from the Michigan Public Service Commission. Loans are available for owner-occupied, single-family homes with 1-4 units (primary or secondary residences) for energy efficiency improvements. Multi-unit homes are only eligible if the owner resides in one of the units. In addition to energy efficiency improvements, solar thermal, solar water heaters, and PV systems of up to 20 kW in size are eligible for loans.
Loan applications can be completed over the phone or internet. Applicants must have a credit score of 640 or higher, and have a debt-to-income ratio of less than 50%. Term lengths are flexible (between 12 and 120 months) and depend on the loan amount and the borrower's preference.