How Does the Process Work?
- Find your Michigan Saves contractor to get an estimate on qualifying commercial energy improvements.
- Apply for financing with one of our commercial lenders—your contractor will provide you with instructions to apply online or by phone.
- Work with your lender. Once the financing is approved, your contractor can get right to work.
Eligible Commercial Improvements
Download all eligible improvements
Get the detailed list of 150+ improvements that are eligible for Michigan Saves financing.
Available Commercial Financing
We’ve already negotiated the best rates on your behalf. These rates are only available through Michigan Saves and account for rebates, incentives, and more.
Thanks to our partnerships with DTE, Consumers Energy, and SEMCO Energy Gas Company, Michigan Saves continues to offer reduced interest rates to commercial and municipal customers for qualifying energy upgrades! With rates as low as 0% APR, commercial customers can take advantage of this special financing for custom and prescriptive energy efficiency projects. Tap the flyers for more details!
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. This program helps Michigan organizations reduce costs by financing energy-efficient lighting, heating and cooling systems, insulation, appliances, water heaters, and more. Upgrades are made with the help of our authorized contractors and an authorized lending partner.
What finance rates and terms are available?
Rates and terms are based on credit and subject to market change. However, commercial customers—which include energy users like for-profit and nonprofit organizations, multifamily properties, publicly owned buildings, and affordable housing—are eligible for minimum financing amounts of $5,000 with interest rates starting at 6.99% APR. Standard financing terms are 24, 36, 48, and 60 months. For applicants with great credit, terms up to 84 months may be available. For amounts greater than $250,000, please contact Todd O’Grady for financing options.
All publicly owned buildings, such as municipal offices, public schools, libraries, and hospitals, are eligible for rates ranging from 3.00% to 5.00% APR. Standard terms are 24, 36, 48, and 60 months. Installment purchase agreements are available from $5,000 to $10 million.
What can I use the financing for?
Most energy improvements can be financed, but a full list of eligible improvements is available here. The most common commercial improvements include LED lighting, HVAC systems, insulation, and new mechanical equipment like occupancy sensors and electronically communicated motors.
Can I do the work myself?
Michigan Saves makes it easy to process authorized contractors and easy for your own contractor to become authorized. Whichever you choose, you can work with people you are comfortable with. Michigan Saves screens energy auditors and contractors to ensure they have applicable licenses, credentials, and insurance, and understand the financing process. If you already have a contractor in mind, they can become authorized by Michigan Saves by completing an application.