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Weatherization Loans

Tideland EMC has funds available for the purpose of making 5% interest weatherization loans to credit worthy members. Loans may for made for the cost of labor* and materials associated with the following energy improvements for existing homes:

  • caulking
  • weather-stripping
  • heat pump systems, including water source heat pumps, with a minimum SEER rating of 15 and are appropriately sized according to ASHRAE standards and reduce energy consumption
  • storage water heaters which reduce energy consumption including heat pump water heaters and solar water heaters
  • central heating or air conditioning systems, with a minimum SEER rating of 15 and are appropriately sized according to ASHRAE standards and reduce energy consumption
  • ceiling, wall, floor or duct insulation (includes the creation of a sealed crawlspace)
  • water heater insulation
  • storm windows and doors
  • thermal windows and doors
  • electric system coordinated member-owned devices that reduce maximum kilowatt demand
  • clocks thermostats
  • other major Energy Star rated products excluding electronics and small appliances

*If the borrower installs the materials his/herself the loan will be limited to financing the cost of materials.

Members applying for a weatherization loan will be scheduled for a free Tideland EMC energy audit to assist the member in determining what energy conservation measures yield the greatest utility savings. Heating and cooling system quotes must be accompanied by a heat gain/heat loss calculation performed by the intended installer.

Loan terms shall be for a maximum of 5 years (60 months). Generally the repayment term is up to 24 months for loans less than or equal to $5,000; up to 36 months for loans greater than $5,000 but less than $10,000 and up to 60 months for loans greater than or equal to $10,000. Loan payments are added to the member's monthly electric bill. Loans will not be made to refinance existing debt or previous improvements.

The following eligibility requirements are established to ensure the credit worthiness of the borrower:

  1. The member must have lived on Tideland's electric system and had service in his/her name no less than 12 months and the property on which the improvements are to be made must be titled in the member's name either individually or jointly.
  2. Any loan over $10,000 shall be secured by a first or second Deed of Trust on the property.
  3. The member must not have filed bankruptcy within the last 5 years.
  4. Credit Bureau reports and TEMC credit rating will be used to determine the member's credit worthiness.
  5. The member shall show that he/she has the financial means to repay the loan.

Upon loan approval the member has 90 days to complete the improvements. The loan proceeds check will be made payable to both the Tideland member and the contractor performing the work. It is the member's responsibility to deliver the check to the contractor. Loans are made subject to funding availability.

For more information contact Tideland EMC loan officer Karen Heffley.