If you need to make energy-saving home improvements, Pee Dee Electric Cooperative can assist you with the financing with a special, low-interest, fixed-rate loan through the Energy Resource Conservation Program.
 
PLEASE CLICK HERE FOR AN ERC LOAN APPLICATION

PROJECTS ELIGIBLE FOR FINANCING

The loan program will finance materials and labor for improvements to your home recommended by Pee Dee Electric Co-op.  These improvements, which must be cost effective and offer a return on investment, include:
*  insulation for the attic, ducts, floors,walls, water heater and water piping
*  storm windows and doors
*  replacement thermal windows and insulated doors
*  attic ventilation systems
*  clock/programmable thermostats
*  high efficiency electric heat pumps
*  dual fuel systems (heat pump/fossil fuel combined systems)
*  ground source heat pumps
*  electric thermal storage
*  caulking and weatherstripping

QUALIFICATIONS

Applications for loans are open to all residential members of Pee Dee Electric Cooperative who are homeowners.  Applications are also open to those mobile home owners who own their mobile home and who own the lot where that mobile home is permanently set up.  Improvements must be made to a home owned by a member.  Landlords wishing to make structural improvements may also qualify if the account remains in the landlord's name.

Qualifying is easy. Just a credit check, home energy audit and project approval are needed by Pee Dee Electric Cooperative before you begin work on improvements to your home.

Pee Dee Electric can provide sources to help you choose contractors. Heat pump installations MUST be completed by an approved contractor.  

LOAN TERMS

The minimum loan amount is $250 and the maximum amount is $5,000, with repayment periods of up to 72 months. All loans will be secured with a lien on real property. The loan principal may be prepaid without penalty.  The loan is a simple interest loan with a fixed five (5%) percent interest rate.
 
PROJECTS NOT ELIGIBLE FOR FINANCING

The program does not allow financing for energy conservation projects completed prior to applying for the loan, refinancing of completed work or for new construction.

REPAYMENT

When the work has been completed to the satisfaction of the member and Pee Dee Electric, the loan payments will be included on the member's monthly electric bill.  If the home is sold or the title transferred before payoff, the loan must be paid in full prior to the transaction.
 
ENERGY ADVANCE LOAN PROCESS

1. Contact Pee Dee Electric to set up an energy audit with a marketing representative. (843)292-4345 
2. During the audit, a representative will recommend improvements that will make your home more energy efficient and give you an application for the loan.
3. Get estimates from contractors. Fill out the application completely; return it along with the copy of your property deed and a copy of the estimat(s) from the contractor(s) you have selected.  Contractors  must be approved by Pee Dee Electric.
4. Upon receiving written notice from Pee Dee Electric that your loan has been approved, the contractor may begin work on the improvements.
5. When the contractor is finished,  Pee Dee Electric will inspect the work to verify project completion per program standards.
6. 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.
7. The loan payments will begin appearing on your electric bill.
8. Sit back and enjoy your comfortable, energy efficient home.