Contractors’ Frequently Asked Questions
What is Michigan Saves financing?
Michigan Saves financing is financial capital made available to customers through a network of lenders that offer favorable terms based on a negotiated contract. Our programs help Michigan residents reduce costs by financing energy-efficiency improvements for their home or commercial property. Michigan Saves authorized contractors have exclusive rights to offer our programs.
What finance rates and terms are available?
Contractors can offer any offer any of our financing programs. There is a separate authorization for commercial and residential. Once authorized for commercial (Business Energy Financing), the contractor is able to offer Public Sector Energy Financing as well as Multifamily Energy Financing. Incentives, such as 0% or 1.99% APR, are program-specific and administered on a first-come, first-served basis until funds are exhausted. Please click the here for a list of authorized lenders and available rates and terms.
What can I use the financing for?
Eligible measures are program-specific. Contractors can recommend custom energy-efficiency measures as well.
Can I do the work myself?
Only authorized contractors can initiate and process Michigan Saves financing. The contractor’s Michigan Saves Identification Number is the key to start the financing process.