What We Offer:

Is your home drafty? Is your furnace old and expensive? Do you need new windows?

Our Home Energy Loan Program provides up to $30,000 in financing to homeowners like you for energy efficiency and renewable energy improvements. We make it easy, with no home appraisal or equity required. Homeowners can choose from a list of qualified improvements such as new windows and doors, new air conditioners or furnaces, or even new appliances. Or get a home energy assessment to identify what you can do to spend less money on energy in your home.

It's Easy As 1-2-3:

  1. Find a Michigan Saves authorized contractor to get an estimate. Have an energy assessment or pick from a list of qualified energy improvements.
  2. Complete the loan application. Your authorized contractor will help you, and you will get a decision within minutes.
  3. Once the loan is approved, your contractor makes the energy improvements. Your contractor is paid directly by the lender after the work is done to your satisfaction.

Participating lenders offer an unsecured loan for amounts between $1,000 and $30,000, at a fixed annual percentage rate (APR) no higher than 7%, with no prepayment penalty. Loan terms are one year for every $1,000 up to $4,999. For loans $5,000 and higher, 10-year terms are an option. A sample monthly payment for a 3-year, $3,000 loan at 7% APR is $93; a 7-year, $6,000 loan at 7% APR is $91. Monthly payment calculators are available here.

Why Should I Participate?

Electric prices have risen 30% since 2006 (MPSC).

That means you are spending hundreds of dollars more per year on your energy because of rising costs. You can't change your energy rates, but you can be sure you are not wasting the energy you buy each month!

Plus, when you replace old, out-of-date appliances like refrigerators, freezers, or air conditioners, you'll also be doing your part to protect the environment and consume less energy.

Learn more or find an authorized contractor. 

Are you a renter?

If you live in a multifamily dwelling, your home could still be eligible for easy, affordable improvement financing. Tell your property owner to visit our Multifamily Energy Financing page below.


Multifamily Energy Financing Program

Are you a multifamily income property owner? Michigan Saves has a dedicated program that can help you maximize your investment, too. Learn more at our Multifamily Energy Financing page.