Residential Home Energy Financing | Michigan Saves

Home Energy Improvements

From solar panels to energy efficient upgrades, we provide tailored solutions to help you achieve your energy goals. Our streamlined process ensures that your needs are met efficiently and effectively, allowing you to focus on enjoying the benefits of a more sustainable home.

How Does the Process Work?

1 Find your Michigan Saves contractor to get an estimate on qualifying residential energy improvements.

Find a Contractor

2Apply for financing online anytime and have your authorized contractor's six digit ID number handy.

Apply for Financing

3Work with your lender. Once the loan is approved, your contractor can get right to work.

Find a Lender

Eligible Home Improvements

Roofing (asphalt, metal, or membrane)

Roofing (asphalt, metal, or membrane)
ENERGY STAR® or comparable

Solar Panels

Solar photovoltaic (PV)

Insulation (attic, crawl spaces, floors, joists, and walls)

Insulation (attic, crawl spaces, floors, joists, and walls)

Roof top with solar panels illustration
Low-flow toilets, faucets, and showerheads

Low-flow toilets, faucets, and showerheads

Bathroom illustration


Air Sealing

Air sealing

Living room illustration
Remediation (lead, mold, radon, and asbestos)

Remediation (lead, mold, radon, and asbestos)

Heating, ventilation, and air conditioning (HVAC)

Heating, ventilation, and air conditioning (HVAC)

Water heater

Water heater

Basement illustration
Whole-home battery storage

Whole-home battery storage

Electric vehicle (EV) charging stations

Electric vehicle (EV) charging stations

Garage illustration with electric car parked inside

Download all eligible improvements

Get the detailed list of 150+ improvements that are eligible for Michigan Saves financing.

Michigan Saves Residential Lenders

We’ve already negotiated the best rates and terms for clean energy home improvements on your behalf. This simple, affordable clean energy financing is only available through Michigan Saves and is engineered to get you the most for your money, energy, and time.

Genisys CU lafcu Lake MichiganCU MSU FCU True Credit Union

What county do you live in?

Loan amount: How much do you want to borrow?

Available Lenders and Offerings

Loan terms are one year for every $1,000 up to $4,999. For loans $5,000 and higher, customer may select term up to ten years (or higher if applicable). There are no annual or early repayment fees.

Amounts Rates As Low As Terms (months)
$1,000—$50,000 7.49% Up to 180
All Michigan Counties
Amounts Rates As Low As Terms (months)
$1,000—$75,000 7.69% Up to 180
All Michigan Counties

*All Michigan Saves authorized lenders offer programs for “good” credit and above. These lenders consider lower credit scores.
**Actual rates, terms, and loan amounts vary and depend on market conditions, the lender you choose, and your creditworthiness.

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 families and households reduce costs by financing air sealing, heating and cooling systems, insulation, appliances, and more. Homeowners make the upgrades with the help of our authorized contractors through an authorized lending partner.

What finance rates and terms are available?

Michigan Saves negotiates highly competitive rates and terms for personal unsecured loans with Michigan credit unions. Actual rates, terms, and loan amounts vary and depend on the lender you choose and your creditworthiness. Current offerings are available here.

What can I use the financing for?

Most energy improvements can be financed, including renewable energy sources. You may also review a full list of eligible improvements on our website. The most common residential improvements include insulation, air sealing, furnace or boiler replacement, windows, energy-efficient roofs, and appliances. Improvements that are not energy related can be included in the financing if the improvement is necessary to complete a qualified energy project.

I'm interested in electrifying the fuel source in my home. How can Michigan Saves help?

We have you covered! Electrifying your home is a very effective way to reduce your emissions and energy costs. We offer affordable, long-term financing that makes it easy to invest in electrifying your home. Download our residential electrification guide to learn more.

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 apply to become authorized by Michigan Saves.

Are there any early repayment penalties?

There is no penalty for early repayment, and you will only pay for interest that has already accrued. Many customers take the longest term possible to ensure the smallest fixed monthly payment and then repay the loan early to save on interest charges.

How long are credit approvals valid?

Most loan decisions are valid for 90 days. Your energy improvement project must be completed and your loan agreement signed within 90 days of receiving approval. (Some lenders offer a 120-day completion timeline—please check with your lender if additional time is needed to complete the project.) If the project or loan documents are not completed within this time frame, the lender may repull credit and reevaluate the loan application. Be sure to communicate any changes regarding the scope of the project or time frame to your lender right away.

Will my interest rate or term ever change?

No. All interest rates and terms are fixed.

In some instances, lenders may allow for a one-time reamortization for solar loans. In those cases, the interest rate and term are subject to the current offerings available. You will be able to decide whether to keep your current loan arrangement or to reamortize using current rates and terms.

Is income verification required?

When applying, you will be asked to provide your individual gross yearly income. If further clarification is needed, you may be asked by the lender to provide proof of income through a pay stub, W-2, or other documentation.

Who can apply for financing?

Michigan Saves is available to owner-occupied, single-family homes that are less than four attached units. We can also provide financing for cottages or second homes and rental properties as long as the owner(s) of the property is the applicant. We do not finance projects for occupants on land contracts.

Can I apply with a co-applicant?

Yes, applicants within the same household may jointly apply. Alternatively, another member in the household may apply if the original applicant is declined.

What can I do if I was declined?

You may reapply with another household member or you can also try again after 30 days. We also suggest that you contact your electric or gas utility provider, as there may be programs available that provide low- or reduced-cost equipment for qualified customers.

Are manufactured homes and trailers eligible for Michigan Saves financing?

Yes! Michigan Saves financing is available for manufactured homes and trailers as long as you are the owner, not the renter. Even if you rent the lot that the home sits on, as long as you own the home, you are still eligible to apply for Michigan Saves financing.

How do I get started?

The first step is to find a Michigan Saves authorized contractor in your area. You cannot access our financing without an authorized contractor, so this is your starting point. On our website, you can search for authorized contractors. Once your contractor evaluates your project, they will provide you with a quote and their authorized contractor identification number. You may then apply online.

Find Your Contractor

Get the exact energy services you need by finding a local contractor who offers Michigan Saves financing.