ERC Loan

Energy Resource Conservation Loan

Energy improvements to your home

ERC Loan LogoHaving an energy efficient home not only conserves electricity, but helps to keep your utility bills as low as possible. Sometimes making improvements to your home is necessary to make it more energy efficient, and sometimes those improvements can be somewhat costly. To help its members afford beneficial energy efficient improvements, Marlboro Electric is happy to offer Energy Resource Conservation (ERC) loans available only to members.

Types of eligible projects include:

  • Electric heat pumps*
  • Dual fuel heat pumps*
  • Ground source heat pumps*
  • Programmable thermostats*
  • Insulation for the attic, ducts, floors, walls, water heater and water piping
  • Storm windows and doors
  • Thermal windows and insulated doors
  • Attic ventilation systems
  • Caulking & weather stripping

*An energy savings switch may be installed by Marlboro Electric. Financing of energy conservation projects completed prior to applying for the loan, refinancing or completed work, or new construction is not permissible.

Qualifications & Requirements:

  • Improvements must be made to a home owned by a member of Marlboro Electric
  • Mobile home owners must own both the mobile home and the land where the home is permanently set up
  • Property must be insured
  • Must be an MEC member for at least 12 months
  • No service disconnects with Marlboro Electric ever
  • No more than one late payment in the last 12 months
  • Credit check and home energy audit are required
  • Loan payments will be added to the monthly bill

Loan Application

Loan application formThe loan application fee is $35, and if it is approved, up to $5,000 is available for a repayment period of six years. It is a simple interest loan with a fixed 7% interest rate. View our loan application here (PDF).

Loan Process:

  1. Download the application using one of the two links on this page.
  2. Complete the application and return it along with a copy of your property deed and the required estimate(s) from the approved licensed contractor(s) you have selected and the $35 application fee.
  3. Upon receiving written notice from Marlboro Electric that you loan has been approved, the contractor may begin work on the improvements.
  4. When the contractor has completed the work, Marlboro Electric will inspect the work to verify project completion per program standards.
  5. If the standards have been met, the loan will be closed and a check for the improvements will be issued jointly to you and the contractor.
  6. The loan payments will begin appearing on your bill. All loans will be secured with a lien on the real property and filed at the courthouse.

For more information, please visit our office or contact Hanna Cheek at (843) 454-2880.