75 Charter Oak Avenue
Hartford, CT 06106
700 Canal Street
Stamford, CT 06902
Hartford, CT (July 1, 2022) – For a limited time, homeowners installing heat pumps, battery storage, or EV charging stations are able to get a low 2.99% interest rate with a summer special Smart-E loan. Borrowers earning less than 100% State Median Income (SMI) are able to get a 1.99% rate (SMI limits by household size can be found here).
Improvements eligible for this special are installation of battery storage systems, level two electric vehicle charging equipment, and heat pumps.
For battery storage, standalone installations or batteries paired with new or existing solar PV systems with qualify. (solar PV is not part of this special, but could be financed with a blended rate). Contractors installing batteries must be approved to participate in the Energy Storage Solutions program, an incentive program for Eversource and UI customers.
For heat pumps, a number of technologies are available, including ductless mini splits, ducted air source heat pumps, ground source heat pumps (geothermal), heat pump water heaters, and solar hot water heaters.
The Smart-E Loan is made available through a network of participating local banks, credit unions, and a community development financial institution (CDFI) across the state. Smart-E Loans through this special offer are available for terms of 5, 7, and 10-years.