Smart-E Loan Special Offer Reduces Interest Rate for Residential Heat Pump Installations
Connecticut Green Bank’s loan program provides a special 0.99% rate for up to 10 years
Hartford, CT (October 28, 2025) – The Connecticut Green Bank, in partnership with Energize CT, participating local banks and credit unions, and contractors, is offering a limited time reduced interest rate on its Smart-E loan program for residential heat pump technologies, which includes air source heat pumps, ducted or ductless mini splits, geothermal heat pumps, and heat pump water heaters. Homeowners can take advantage of a 0.99% rate for loan terms of 5, 7 or 10 years.
The Smart-E loan provides financing up to $50,000 for 1-to-4-unit owner-occupied residential homes and condominiums (with individual electricity meters) in Connecticut. To receive this special rate, homeowners must be an Eversource or Avangrid customer (electricity or gas) and the project must have been approved for an EnergizeCT heat pump rebate.
“Nearly 10,000 homeowners in Connecticut have used Smart-E to reduce their energy costs, improve energy efficiency, or increase their home’s comfort,” said Bert Hunter, Chief Investment Officer at the Connecticut Green Bank. “We are grateful to our utility company partners for this opportunity to offer a great rate on these technologies.”
In addition to heating and cooling projects, the Smart-E loan can be used to finance more than 90 different home improvements related to energy efficiency, renewable energy, and resilience. This includes solar, insulation, windows, wells, septic, and health and safety upgrades.
For more information, including lists of participating contractors and lenders, please visit ctgreenbank.com/smart-e-heat-pump-special/