Program Terms and Features | Eligibile Measures | Frequently Asked Questions | How to Apply | For Contractors
Program Overview
The Illinois Energy Efficiency Loan Program is brought to you by participating gas and electric utilities:
Energy efficiency investments are a cost-effective means to decrease energy consumption, enhance building comfort, and reduce utility bills. Despite the benefits of energy efficiency investments, high upfront costs can be a significant barrier to investing in home energy improvements. The Illinois Energy Efficiency Loan Program allows utility customers to pay for the investments through a monthly loan charge on their utility bill.
Loan Features
- Residential owner-occupied and tenant occupied, single-family (1-4 unit) homes, condominiums and mobile homes
- Unsecured loan (homeowner provides no collateral) added to your monthly utility bill
- Borrowers can finance $500 - $20,000
- Fixed rate loan terms: 4.99% interest rate for 1, 3, 5, 7*, and 10* years
- No fees, points, or closing costs
- No prepayment penalty, can pay in full at any time
- Can finance 100% of installation costs
- Quick approval process
*The loan amount must be greater than $8,000 to utilize a 7 or 10 year loan term
Rates subject to change, customers are subject to the current rate at time of application.
Borrower(s) must meet and maintain certain utility eligibility standards in order to take advantage of the Illinois Energy Efficiency Loan (“Eligibility Standards”). You must be in compliance with the Eligibility Standards throughout the loan application process, including up to the time at which your installation is complete and your loan is to be closed and paid. The Eligibility Standards, which vary by utility, are as follows:
Ameren Illinois
- All borrowers must be listed on the utility bill and all parties listed on the utility bill must be borrowers
- For rental units, utility account must be in name of owner
- Active utility account that is current
- Utility account cannot have been cutoff for non-payment in the past 12 months nor have a pending cutoff for non-payment
- Utility account cannot be under a deferred payment agreement or have a pending deferred payment agreement
- Utility requirements must be met from application through loan closing when a second and final utility eligibility check will be performed
ComEd
- All borrowers must be listed on the utility account
- The borrower must have an active utility account
- For rental units, utility account must be in name of the property owner
- Current utility account cannot have been cut off for non-payment in the past 12 months nor have a pending cutoff for non-payment
- Utility account cannot be under a deferred payment agreement or have a pending deferred payment agreement
- Utility requirements must be met from application through loan closing when a second and final utility eligibility check will be performed
- Borrower must have a credit score of 640 or better
Nicor Gas
- The primary account holder must be the borrower
- All borrowers must be listed on the utility bill
- For rental units, utility account must be in name of owner
- Active utility account that is not currently cut off for non-payment
- Utility requirements must be met from application through loan closing when a second and final utility eligibility check will be performed
Peoples Gas
- All borrowers must be listed on the utility bill and all parties listed on the utility bill must be borrowers
- For rental units, utility bill must be in name of owner
- Active utility account
- Utility requirements must be met at the time of application
North Shore Gas
- All borrowers must be listed on the utility bill and all parties listed on the utility bill must be borrowers
- For rental units, utility bill must be in name of owner
- Active utility account
- Utility requirements must be met at the time of application
Eligible Measures
The Illinois Energy Efficiency Loan Program is designed to encourage the installation of high efficiency measures to increase the energy efficiency of your home. All energy efficiency measures to be installed must meet minimum efficiency requirements to be eligible for financing. To obtain more information about the types of improvements that may be financed by each participating utility, view the utility eligible measure lists link below:
Frequently Asked Questions
View Frequently Asked Questions
Contractor Locator
To find an authorized contractor under this loan program access the contractor search feature on our website.
How to Apply
A) Apply online
Complete and submit the online application.
B) Print the application
Download and complete the application. Mail your application to EFS at the address found at the bottom of this page.
C) Request an application packet by mail
You may request to receive an application packet by mail by calling 877.923.2665.
Additional documentation will be requested with your application. This documentation may be uploaded to your account file after you apply online, or mailed or faxed to EFS with your application to the below address or fax number.
Submit your application by mail or fax to:
Energy Finance Solutions
431 Charmany Drive
Madison, WI 53719
Fax: 608.249.5788
For Contractors
Are you a contractor interested in participating? Find more information here and required documents here.