Elevations Credit Union is committing $35 million in financing for energy efficiency and renewable energy upgrades for homes and businesses in Boulder County and the City/County of Denver.
Energy loans are made possible through Elevations Credit Union, in conjunction with the grant-funded EnergySmart and Denver Energy Challenge services. Boulder and Denver Counties have set aside nearly $8 million of the grant funds to create a finance program to improve the energy efficiency of existing buildings and stimulate local economic growth.
Energy loans can be used for a wide range of upgrades, including insulation, air sealing, heating, cooling, water heating, windows/doors, roofing, solar/ renewable energy, appliances, lighting and energy management. In order to qualify for Solar Photovoltaic and other renewable energy measures under this loan, borrowers must achieve 15% energy savings to the property through the respective programs.
In addition to Elevations loan officers, loan applications are reviewed by the EnergySmart or Denver Energy Challenge energy advisors to ensure these projects qualify. All applicants are required to sign-up for either the EnergySmart or Denver Energy Challenge service depending on property location and are encouraged to utilize the services of energy advisors. These programs offer energy advising to assist residents and businesses in finding the most beneficial energy upgrades to improve comfort and reduce costs for each participant. Advisors can also help participants locate contractors, compare bids, and take advantage of any available rebates and incentives.