Energy Efficiency Financing Programs - Colorado

Updated: September, 2017

Energy Smart Colorado Financing Program

Eligibility

  • Sectors: Residential
  • Geographic Scope: Eagle, Gunnison, Lake or Pitkin Counties
  • Types of Measures: Air sealing, insulation, heating, water heating, doors and windows improvements and renewable energy systems
  • Other Qualifying Criteria: Must be signed up for the Energy Smart Program, be a property owner and have a minimum credit score of 580

Loan Terms

 For more information about Energy Smart financing, click here

Elevations Energy Loans

  •  Program Sponsor: Elevations Credit Union

Eligibility

  • Sectors: Residential and commercial
  • Geographic Scope:  Boulder and Denver Counties
  • Types of Measures: Air sealing, insulation, heating, water heating, and doors and windows improvements, renewable energy systems (residential); lighting, HVAC and other upgrades (business)
  • Other Qualifying Criteria: Must work with an Energy Advisor in program

Loan Terms

  • Interest Rate: Verify current rates at https://www.elevationscu.com/energyloans/home-loans  
  • Financing Period: 36 to 120 months
  • Loan Size: Minimum of $500 to a maximum of $25,000 for residences, for businesses the range is $1,000 to a maximum of $150,000
  • Type of Loan: unsecured

More information at https://www.elevationscu.com/energyloans

Energy Efficiency Financing For Businesses

  • Program Sponsors: TIP Capital, U.S. Bank, and Xcel Energy

Eligibility

  • Sectors: Commercial and Industrial
  • Geographic Scope:  All of Colorado
  • Types of Measures: Ally types of business energy efficiency projects
  • Other Qualifying Criteria: Minimum credit score of 650

For more information about business energy efficiency programs, click here

Loan Terms

For more information, click here

Fort Collins - On-Bill Financing

  •  Program Sponsor: City of Fort Collins Utilities

Eligibility

  • Sectors: Residential
  • Geographic Scope:  City of Fort Collins
  • Types of Measures: HVAC, insulation, air sealing, windows, water service line repair renewable energy
  • Other Qualifying Criteria: Must be a Fort Collins Utilities residential electric customer, Minimum credit score of 640

Loan terms

 More information at http://www.fcgov.com/utilities/residential/conserve/financing

Colorado Energy Saving Mortgage Program

  • Program Sponsor: Colorado Energy Office
  • Summary/Status: The Colorado Energy Saving Mortgage (ESM) Program provides incentives for the purchasers of new energy efficient homes and for energy retrofits of existing homes done at the time of mortgage refinance.

Eligibility

  • Sectors: Single family buildings up to 4 units
  • Geographic Scope: Colorado
  • Types of Measures: purchase of new homes with HERS score of 50 or less; Energy efficiency retrofits for new and existing homes at time of mortgage refinance
  • Other Qualifying Criteria: minimum credit score; see program information

More information at http://www.colorado.gov/cs/Satellite/GovEnergyOffice/CBON/1251649995727

PACE Financing

  • Summary/Status: The Colorado PACE program allows an Authority to sell bonds and provide loans for energy efficiency upgrades to commercial properties, with financing repayment attached to the property and added to the property tax bill.  The Federal Housing Financing Agency issued a statement in July, 2010 indicating that Fannie Mae and Freddie Mac would not purchase mortgages if there is a PACE lien attached to a residential property. Most states have stopped PACE financing for residential properties as a result. In 2013, the Colorado legislature passed legislation facilitating PACE financing for commercial properties. This new program has not been implemented yet; it is currently on hold for residential buildings, and allowed for commercial properties.

Eligibility

  • Sectors: Residential and commercial
  • Geographic Scope: Depends on local participation
  • Types of Measures: Any commercial property improvement is eligible

Loan Terms

  • Interest Rate: Determined by investor
  • Financing Period: Determined by investor
  • Financing Size: Determined by investor
  • Type of Loan: Secured, value of the financing remains with property

Green Colorado Credit Reserve Program

  • Program Sponsor: Colorado Energy Office, implemented through the Colorado Housing Finance Agency (CHFA)

Eligibility

  • Sectors: Small businesses, available for residential customers on a limited basis as well
  • Geographic Scope: Colorado
  • Types of Measures: Any energy efficiency or renewable energy improvements to property
  • Other Qualifying Criteria: Cannot be used on existing debt, or in a number of businesses such as commercial golf courses, liquor sales, suntan facilities, and other such business listed in part c of section 1.3.

Loan terms

  • Interest Rate: To be determined by investor
  • Financing Period:  To be determined by investor
  • Loan Size: Maximum loan size of $100,000, though larger loans may be considered on a case by case basis
  • Type of Loan: Secured

 More information at http://www.chfainfo.com/participating-lenders/business/BusinessLenderForms/GCCR%20Program%20Guidelines.pdf#search=green%20colorado%20credit%20reserve

ResourceSmart for Nonprofits

  •  Program Manager: iCAST

Eligibility

  • Sectors: Nonprofit organizations
  • Geographic Scope: City and County of Denver
  • Types of Measures: cost-effective measures based on performing an energy assessment   
  • Other Qualifying Criteria: NA

Loan terms

  • Interest Rate: Flexible
  • Financing Period: up to 10 years
  • Loan Size: Flexible
  • Type of Loan: Flexible
  • Financial Partners: Gates Family Foundation and Funding Partners

 More information at http://www.resourcesmart.org

ResourceSmart Arvada

  • Program Manager: iCAST
  • Funding Partners: The City of Arvada 

Eligibility

  • Sectors: Businesses, residential, or affordable housing complexes
  • Geographic Scope: City of Arvada
  • Types of Measures: cost-effective measures based on performing an energy assessment 
  • Other Qualifying Criteria: NA

Loan Terms:

  • Interest Rate: NA
  • Financing Period: up to 10 years
  • Loan Size: no limit
  • Type of Loan: (secured/unsecured)

 More information at http://www.resourcesmart.org/city-of-arvada-program.htm  

ResourceSmart Golden

  • Program Manager: iCAST
  • Funding Partners: City of Golden, Gates Family Foundation, Golden Civic Foundation, and the Greater Golden Chamber of Commerce

Eligibility

  • Sectors: Businesses and residential
  • Geographic Scope: City of Golden
  • Types of Measures: cost-effective measures based on performing an energy assessment 
  • Other Qualifying Criteria: NA

Loan Terms

  • Interest Rate: Flexible
  • Financing Period: up to 10 years
  • Loan Size: Flexible
  • Type of Loan: Flexible

For more information about Golden's program, click here

San Miguel Power Partners

  • Program Manager: iCAST
  • Funding Partners: San Miguel Power Association, Telluride Foundation, Source Gas, Alpine Bank

For more information about these partners, click here

Eligibility

  • Sectors: Households and businesses
  • Geographic Scope: Customers of the San Miguel Electric Association
  • Types of Measures: cost-effective measures based on performing an energy assessment 
  • Other Qualifying Criteria: NA

Loan Terms

  • Interest Rate: Flexible
  • Financing Period: up to 10 years
  • Loan Size: Flexible
  • Type of Loan: Flexible

 More information at http://www.resourcesmart.org/san-miguel-power-partners.htm at