Heat Loans and AC Loans

RI 0% Financing Program:

Qualified Rhode Island Energy customers can receive 0% financing to install qualified high-efficiency upgrades in their homes.²

Eligible services include:

• Insulation and air sealing
• Duct sealing and duct insulation
• Natural gas heating systems
• Natural gas water heaters
• Electric heat pump water heaters
• Electric air source heat pumps (that are replacing electric baseboard resistance heat)
  • A heat pump provides both heating and cooling for your home, acting as an air conditioner in the summer and a heater in the winter.
• Residential battery storage (loans available for low-income³ customers only)
  • By applying for 0% Financing for a battery energy storage system, the customer is agreeing to enroll in ConnectedSolutions once the battery energy storage system is online and interconnected. A battery energy storage system stores excess electricity for later use, including backup power during power outages. ConnectedSolutions participants are rewarded for allowing Rhode Island Energy to use the energy stored in the battery at times of high demand. For more information on the Rhode Island Energy Battery Storage program, and the incentive payment process, download the program guide.

If you've already had a home energy assessment and received your 0% Financing Authorization Form, you can apply for your loan online now. If not, here's what you need to do:

1. Complete an EnergyWise home energy assessment and receive a 0% Financing Enrollment Form. Call RISE Engineering at (888) 633-7947, or visit https://www.rienergy.com/site/ways-to-save/assistance-programs/income-eligibility-energy-savings-program to schedule your free in-person or virtual home energy assessment.
2. Obtain contractor proposals for eligible efficiency improvements you'd like to finance.
3. Choose your contractor(s), then complete and submit your Enrollment Form.
4. Receive your 0% Financing Authorization Form and apply for your loan.

 ¹_{Some restrictions may apply. This offer is subject to credit approval and may be suspended or terminated at any time. Minimum loan amount is $500.00. APR refers to Annual Percentage Rate. The monthly payment would be approximately $11.90 per $1,000 borrowed based on 0.00% APR for 84 months. Trust review and recording fees ranging from $150.00 to $375.00 apply for properties held in trust. Eligible Mass Save HEAT Loan customers will need to obtain cost estimates from licensed contractors and submit them to the Home Assessment Vendor for approval. Loans between $500 and $25,000 have a minimum FICO Score requirement of 680. Loans greater than $25,000 must have a minimum FICO score requirement of 700. Maximum debt to income ratio of 45%, based on net income. Customers must meet program eligibility requirements to participate. Eligibility for the HEAT Loan Program is based on completing a Home Energy Assessment and pre-approval. Some restrictions apply and offers are subject to change or cancellation. Financing is subject to credit approval. Additional terms and conditions apply. Visit MassSave.com/HEATLoan or call 1-866-527-SAVE (7283) for details and to learn more about the program.} 

²_{Loans have a minimum FICO Score requirement of 680 and maximum debt to income ratio of 45%, based on net income.}

³_{Low-income (A-60 rate) eligible Rhode Island Energy customers can apply for a 0% financing loan for the cost of the battery system with no down payment and a $25,000 lifetime cap per account number.}

 _{BankFive NMLS #525575 • Member FDIC • Member DIF • Equal Housing Lender}