Savings Within Reach On-Bill Loan Repayment
Make energy-efficient upgrades with easy, affordable financing repaid through your energy bill
No matter your budget, it’s possible to make changes that lower utility bills and improve comfort and energy performance. To help make upgrades more affordable, we offer increased incentives and on-bill financing for income-qualified homeowners who are eligible for Savings Within Reach.
Energy Trust is working with Portland General Electric, Pacific Power, NW Natural, Avista and regional nonprofit lenders Craft3 and Puget Sound Cooperative Credit Union (PSCCU) to provide this special financing so you can save on your projects and pay back an affordable loan right on your energy bill. Qualifying projects like insulation are a great way to increase comfort while saving energy and money.
To make sure your projects qualify, get started by contacting an Energy Trust trade ally contractor trained to offer On-Bill Loan Repayment.
Establish your eligibility.Read More >
Contact an approved Energy Trust trade ally contractor trained to provide Savings Within Reach On-Bill Loan Repayment services.
Your contractor will provide a bid for eligible upgrades.
Fill out and sign the Energy Trust On-Bill Loan Repayment incentive application provided by your trade ally contractor.
Your contractor will submit this form to Energy Trust.
Apply for an on-bill repayment loan.
Sign your loan documents and begin your project.
Upon incentive approval by Energy Trust and loan approval by lender, the lender will generate your loan documents, which can be signed electronically. Once your loan documents are signed and returned to Craft3 or PSCCU, notify your contractor to begin work. You will receive communication from your utility when your loan repayment is active and you will begin seeing it on your energy bill.
In addition to the eligibility requirements listed in the Steps tab, to participate you must reside in and own the home receiving the upgrades. If you live in a single-family or multifamily residence that is an attached side-by-side unit like a rowhome, or is a unit within a duplex, triplex, or fourplex, you are eligible for all available incentives. Stacked structures with five or more units are only eligible for the ductless heat pump incentive. Affordable housing properties and owner-occupied manufactured homes with land ownership are also eligible. You must also meet Energy Trust’s income qualifications. The loan may only be used to cover the cost of materials and installation, up to $15,000, for the following projects that qualify for Energy Trust incentives:
- Attic, wall or floor insulation
- Central air conditioners*
- Ductless heat pump**
- Gas furnace***
- Gas tankless water heaters and heat pump water heaters****
- Heat pump
- Heat pump controls
- Extended capacity heat pump
*Central air conditioner financing is available for customers of:
- Pacific Power
- NW Natural
**Please note: Stacked structures with five or more units are only eligible for the ductless heat pump incentive.
***Gas furnace incentives are only available to multifamily residences.
****There is no customer-facing incentive for heat pump water heaters or gas tank water heaters, but the cost of the unit and installation may be financed with Savings Within Reach On-Bill Loan Repayment.
To learn more about loan terms and to apply for financing, visit our lenders’ webpages:
†For homes that are primarily heated by gas provided by Avista, apply with PSCCU.
Additional Savings Within Reach on-bill repayment details:
- Loan and recording fees are covered by Energy Trust
- Repayment method is the home heating bill
Project eligibility is determined by Energy Trust. Loan terms are available for qualifying projects installed in owner-occupied single-family homes, multifamily residences or manufactured homes with land ownership. Loan availability, terms and conditions are subject to change without notice. Not all applicants will qualify. Both Craft3 (NMLS ID#390159) and PSCCU (NMLS ID#619183) are equal opportunity lenders.
Contact one of our trade ally contractors or call Energy Trust at 1.866.368.7878 for single-family home projects and 1.877.510.2130 for multifamily projects to take advantage of this financing option.
To learn more about Craft3 loans and to apply for financing, visit Craft3’s webpage or call 1.888.231.2170, ext. 225.
To learn more about PSCCU loans and to apply for financing, visit PSCCU’s webpage for call 1.800.273.1550.
- Inclusive loan approval criteria. You may be eligible for a loan even with a less-than-perfect credit score.
- Big savings, small bill. The energy savings from your upgrades may offset much of the loan cost, so you could see little to no increase in your energy bill.
Yes. Eligible multifamily property types are attached side-by-side properties (such as a rowhome or townhouse), or a duplex, triplex or fourplex. Stacked structures with five or more units are eligible for the ductless heat pump incentive only. The unit receiving the upgrade must be owner-occupied.
Energy Trust recommends getting at least three bids from contractors, but it is not a requirement to participate. To participate in Savings Within Reach, your contractor must be a trained Energy Trust trade ally contractor approved to offer Savings Within Reach. Approved contractors can be found using our Find a Contractor tool on our website. Energy Trust is also happy to send you three approved contractors if you would like.
On-Bill Loan Repayment is only currently available through select trade ally contractors who have been trained to offer this option. On-Bill Loan Repayment is only available to customers of Portland General Electric, Pacific Power, NW Natural and Avista in Oregon.
If the cost of the project increases after work has started, you will need to sign updated loan documents with Craft3 and your contractor will need to resubmit the incentive form to Energy Trust once you have signed it. If the final project costs are less than the loan amount, Craft3 will lower your loan amount and adjust the payments.
All costs associated with the qualified energy upgrade are eligible to be included in the loan, up to your loan maximum.
We chose to work with Craft3 and PSCCU as lenders for this offer because they are regional nonprofit lenders dedicated to helping Pacific Northwest families save energy and protect the environment.
You can expect to begin loan payments on your utility bill one to two bill cycles after funds are disbursed to your trade ally contractor.
You will make the first payment directly to PSCCU after the lender has made the first 50% payment to you trade ally contractor. Once the work has been completed, you can expect to begin loan payments one to two bill cycles after the remaining funds are disbursed to your trade ally contractor.
This offer is only available for owners who live in their single-family home or qualifying multifamily residence that is an attached side-by-side until like a rowhome, or is a unit within a duplex, triplex or fourplex, because the property owner must approve all upgrades or changes to the residence in order to receive incentives and meet the required terms of the loan.
You have the option of either paying the remaining balance of the loan or transferring the loan as a term of sale to the next homeowner. Loan transfers will require approval by Craft3 and fees may apply.
You will need to pay off the remaining balance of the loan at the time of the sale.
Income includes all gross wages, tips, rental income, public assistance, Social Security or pensions, income from self-employment, alimony, interest or any other sources of income as defined on the IRS income tax return for all members of the household.
Visit our financing webpage to find additional financing options. You can also talk with your bank or credit union to see if they offer loans for energy improvement projects.
Contact firstname.lastname@example.org to learn more and find out more about our plans to make On-Bill Loan Repayment more broadly available in the future.
At this time, Cascade Natural Gas is not offering On-Bill Loan Repayment. Visit our financing webpage to find additional financing options. You can also talk with your bank or credit union to see if they offer loans for energy improvement projects.
NMLS stands for Nationwide Multistate Licensing System & Registry. It is a system used by most states to aggregate licensure information for financial services such as mortgage lending. For more information, visit the NMLS webpage.
For incentive related questions, please give us a call at 1.866.368.7878 for single-family home projects or 1.877.510.2130 for multifamily projects or email us at email@example.com.
For questions regarding the loan process: