Energy Fix FAQs

Residential Energy Fix Loan

FEC provides rebates and loans to qualifying members for residential energy efficiency upgrades.

FEC is committed to ensuring an adequate energy supply for the benefit of all FEC members. To carry out this commitment, FEC intends to assist members with reducing or managing their energy consumption by providing rebates and loans to help members upgrade their residences.

FEC members with qualifying residences who wish to improve the efficiency and comfort of their home, including manufactured homes and rental property.

Residential insulation, windows, heat pump water heaters, and heat pump upgrades.

Submit a loan application with required documentation.

The maximum loan amount is $7500. If the owner(s) have more than one active loan, the combination of all residential loans is capped to $7500.

FEC uses a comprehensive decision matrix that takes into account the amount of the loan, your FEC Credit Rating, credit bureau scores, and the number of liens outstanding on the property.

Eligibility Criteria

  1. The project qualifies for a rebate.
  2. Owner(s) account is current. No past due balances or outstanding payment arrangements.
  3. Owner(s) FEC Credit Rating. Approval requires 9 points or less within the last 12 months.
  4. For all loans over $1000: Owner(s) Credit Score. Approval requires scores above 600.

After FEC receives the completed application, loan approval takes up to one week.

Yes, bids have an expiration date and will require re-submittal once expired. In addition, delays of longer than 60 days may require a new credit check which could result based on new credit scores of changed eligibility.

No. Once the reason for the denial has been corrected you may reapply.

Yes. FEC will only loan money to the property owner(s) of record, unless you are the legally designated agent for the homeowner (i.e. Trusts, Wills, and Power of Attorney). In that case, you will be required to provide legal documentation to substantiate the designation.

As listed owner of a property, you have an interest in that property. FEC requires all persons who have an interest in the property to sign the participation application and loan agreement for the same reasons spouses are required to sign: 1) to ensure that all property owners are informed; 2) to ensure that the obligation will be paid if anything happens to the primary applicant; and 3) to ensure continued viability of the loan pool.

No. FEC will only loan money to the property owner(s) of record.

No, FEC will not loan to residences that are located on leased or rented land.

No, FEC will not loan to residences that are located on leased or rented land.

Yes. Residential loans are capped to one property owner.

FEC requires a valid social security number when applying for an Energy Fix Loan.

FEC’s loan fund is a “fixed” pool of money. Because these loans are low-interest, each time there is loss due to default, bankruptcy, or foreclosure, that “fixed” pool is reduced by that amount.

To ensure continued viability of the loan pool, FEC requires that spouses sign the participation application and loan agreement.

By signing, it ensures that all parties are informed of the obligation; it gives FEC permission to run credit reports and guarantees that the obligation will be paid if anything happens to the primary applicant.

No, there are no penalties for paying off your loan early.

Your loan will continue.

As long as you maintain ownership of the property, you may continue to be billed for the loan as long as you have another active residential FEC account.

You will need to inform FEC of your new address so the loan can be moved to your new electric account.

You will be required to pay off your FEC Energy Fix Loan in full.

After the project is completed and completion is approved by FEC.

FEC will make final payment to the Approved Installer.

If the project cost is larger than the total rebate and loan amount, the homeowner is responsible for paying the trade ally the remaining dollar amount.

This time varies depending on the length of time it takes the Approved Installer and owner to arrange for final inspection, if necessary, and provide all necessary documentation. Once FEC approves completion of the project the check will be issued within 30 days.

Yes, loan payments will be included as a line item on your electric bill starting the first bill after issuance of the check to your Approved Installer.