Home Energy Loan Program

Michigan Saves believes comfortable homes and low energy costs should go hand in hand. That’s why we created the Home Energy Loan Program, one of the most powerful tools in the country, designed to help you take control of your energy costs. With available financing up to $30,000 over ten years at standard rates as low 4.25% APR, there’s never been a better time to join thousands of Michigan families by making easy, affordable, smart choices to make your house an efficient home.

Now Available

1.99% APR financing is available for qualifying, energy efficiency measures for Wyandotte residents.

Learn More >

It’s as easy as 1-2-3

Select a Contractor

Select a Michigan Saves authorized contractor to get an estimate on qualifying energy improvements.

Apply for Financing

Your contractor will provide you with instructions to apply by phone. An online application is available here.


Once the loan is approved, your contractor installs the improvements and is paid—after the work is completed to your satisfaction.

“It just doesn’t make sense to keep letting our money and our energy go out the window.”

— Ruth Lumpkins

Home Energy Loan Program 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 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 and we provide affordable financing up to $30,000 through an authorized lending partner.

What finance rates and terms are available?

All homeowners are eligible for rates ranging from 4.25% to 7% APR, though most customers finance at 4.99% APR. Actual rates are dependent on the lender you choose and your creditworthiness. Terms are available up to ten years with loan amounts accessible from $1,000 to $30,000.

What can I use the financing for?

Most energy improvements can be financed, including renewable energy sources, but a full list of eligible improvements is available here. The most common residential improvements include insulation, air sealing, furnace or boiler replacement, windows, energy-efficient roofs, and appliances. Non-energy related improvements can be included in the financing if the improvement is necessary to complete an energy project.

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 are already working with or know a contractor, they can become authorized by Michigan Saves by filling out an application.

Eligible Improvements

The improvements listed below—subject to specified requirements where noted—are eligible for financing for qualified borrowers under the Home Energy Loan Program. This list is subject to change. Measures that are not included on this list—such as air sealing, insulation, and related health and safety measures and more—may also qualify for financing, if they are recommended through a home energy assessment conducted by a certified professional. See the Michigan Saves list of authorized contractors to find a certified energy auditor near you, if you are interested in receiving a home energy assessment.

Qualified Home Improvements for Home Energy Loan Program

Building Shell Improvements

Exterior Doors (upgrade existing units only—NFRC label) Energy Star®
Reflective Roof (metal or asphalt) Energy Star®
Skylights (upgrade existing units only) Energy Star®
Storm Windows and Doors Energy Star®
Windows (upgrade existing units only—NFRC label) Energy Star®

HVAC Measures

All HVAC installations must be sized appropriately for the home using computer-generated Manual J or other industry-approved energy modeling software.

Air Source Heat Pump
Split System SEER ≥ 14.5, EER ≥ 12.0
Package System SEER ≥ 14.0, EER ≥ 11.0
Natural Gas, Oil, Propane AFUE ≥ 85%
Wood Gasification

  • UL Rated
  • EPA Phase 2 qualified (i.e., white tag)
  • Must be purchased and installed by authorized
    contractor with Michigan Boiler Installers license
AFUE/TE ≥ 75%
Central Air Conditioning
Split System SEER ≥ 14.5, EER ≥ 12.0
Package System SEER ≥ 14.0, EER ≥ 11.0
Natural Gas and Propane AFUE ≥ 90%
Oil AFUE ≥ 85%
Ground Source Heat Pump (closed loop)
Water-to-Air EER ≥ 17.1, COP ≥ 3.6
Water-to-Water EER ≥ 16.1, COP ≥ 3.1
Ground Source Heat Pump (open loop)
Water-to-Air EER ≥ 21.1, COP ≥ 4.1
Water-to-Water EER ≥ 20.1, COP ≥ 3.5
Ground Source Heat Pump (DGX-direct geoexchange) EER ≥ 16.0, COP ≥ 3.6

Water Heating Measures

Water Heater
Electric Tank (upgrade existing units only) EF ≥ .93
Gas Condensing Tank
  • EF ≥ .80 for units <75,000 BTU
  • TE > 96% for units >75,000 BTU
Gas Storage Tank EF ≥ .67
Gas Tankless EF ≥ .82
Heat Pump Tank EF ≥ 2.0
Solar Thermal SF ≥ .50, SRCC certified


Appliances can only be included if other qualified improvements are selected or a whole-home audit is performed. Homeowner must affirm that used appliances were recycled in accordance with state/local laws and not reused.

Ceiling Fan Energy Star®
Dehumidifier Energy Star®
Freezer (chest/upright) Energy Star®
Dishwasher Energy Star®
Refrigerator Energy Star®
Room Air Conditioner Energy Star®
Washing Machine Energy Star®

Electricity Generation Measures

Solar photovoltaic systems must be single-installation systems between 1kW and 20kW in size, and must be interconnected to an electric service provider. Contractors MUST provide a copy of the interconnection agreement or utility letter of authorization with the certificate of completion.

Solar Photovoltaic Modules California Energy Commission Approved Product
Solar Photovoltaic Inverters California Energy Commission Approved Product or approved by local utility
Solar Photovoltaic Meters California Energy Commission Approved Product

Nonenergy, Building Performance Measures

Michigan Saves will finance the remediation of preexisting environmental hazards or the repair of physical/structural defects that create health and safety issues, so long as the remediation or repairs are coupled with an appropriate qualified home improvement and the cause(s) of the environmental hazard or physical defect is addressed. Michigan Saves will not finance remediation work alone.

  • Asbestos abatement or electrical service upgrade necessary when installing a new heating/cooling unit
  • Upgrade of knob and tube wiring in order to install insulation
  • Radon and lead abatement work
  • Cost of removing an oil tank when done in connection with a heating system replacement
  • Repairs to the home due to water damage, molds or mildew, ice dams, or other symptoms of poor building performance, as long as damage related to building performance is addressed


Who’s Eligible? Summary Eligible Improvements To Apply Flyer and Details Promotion Ends
DTE Energy residential customers DTE Energy gas line extension costs may be financed when paired with at least one qualifying energy efficiency improvement Qualifying energy efficiency improvements Call: 877-867-8522

Program code: 8340

Click here Available until further notice
Wyandotte residents 1.99% APR up to 120 months Qualifying energy efficiency improvements Call: 877-867-8522

Program code: 9314

Click here While funds available

Eli and Ruth Lumpkins

Cynthia and Jeremy Ligman

Dave and Kathy Peters

Myron and Camilla Richardson

Kelli and Michael Scholten

Brian and Sara Catlett

Laura and Steve McMullen