Maryland Clean Energy Loan Program Reaches $3 Million Milestone, Empowering Homeowners with Energy Efficiency Upgrades
Homeowners with credit scores as low as 580 can now qualify for energy efficiency loans with 0% interest for 24 months
COLLEGE PARK, Md. The Clean Energy Advantage (CEA) Loan Pilot Program, a program of the Maryland Clean Energy Center, has surpassed $3 million in financing, helping Maryland homeowners reduce their energy costs while improving home comfort. Now, with loans up to $50,000 and credit score qualifications as low as 580, even more residents can afford energy-efficient home upgrades. With 0% interest for the first 24 months and flexible terms up to 10 years, the program removes financial barriers, enabling homeowners to invest in energy-efficient technologies that save both money and energy long term.
Funding is available until December 31, 2025, offering a limited-time opportunity for residents to access low-cost financing while enhancing their home’s energy efficiency. The Clean Energy Advantage Loan Program has already approved over $3 million in financing and now offers larger loans of up to $50,000, with expanded eligibility for residents with credit scores as low as 580, making energy-efficient upgrades more accessible to Maryland homeowners.
“More than 300 homeowners across the state have benefited from the Clean Energy Advantage Loan Program and now it is expanding to empower even more people. With increased loan amounts and a wider range of approved credit scores, it is even easier for people to affordably invest in energy-efficient solutions,” said I. Katherine Magruder, Executive Director of the Maryland Clean Energy Center. “At a time when high-interest rates can be a significant barrier, 0% interest for 24 months is a game-changer. This program isn’t just about savings; it’s about empowering our community to take control of their homes comfort and contribute to a sustainable future.”
The program offers loans with unprecedented 0% interest for 24 months, followed by a fixed low interest rate with three, five or 10-year terms. When combined with EmPOWER rebates from Maryland utilities, it’s never been easier or more affordable to ensure summer air conditioning bills are as low as possible, and the savings continue when temperatures cool and heating expenses rise. Residents can enjoy the energy efficiency benefits of larger or more comprehensive projects, with a reduced out-of-pocket cost.
“We are dedicated to providing accessible financing options and ensuring equitable access to resources that enable homeowners to reduce energy consumption and lower utility costs,” says Stephen Morel, CEO of Montgomery County Green Bank. “By offering expanded financing options, the Clean Energy Advantage Loan Program is empowering more homeowners to make energy-efficient upgrades and making it easier for them to invest in both their homes and the environment.”
To participate, residents must contact a participating contractor within their utility service area (BGE, SMECO, Potomac Edison, Delmarva Power, Pepco, or Washington Gas) to select eligible high-efficiency equipment and measures. The loan application process is completed after customers work with their contractor under the Home Performance with ENERGY STAR (HPwES) or HVAC rebate programs.
“The Clean Energy Advantage loan program is great for our customers because it allows them an exceptional financing option for life changing home improvements. These improvements increase home comfort and indoor air quality while reducing energy consumption, which ultimately saves the homeowner money on their utility cost,” said Michelle Burgee, CEO of Complete Home Solutions.
In addition to benefiting consumers, CEA supports local contractors by encouraging a greater completion rate for home improvement project needs identified during Quick Home Energy Checks (QHECs) and home energy audits. Projects can range from insulation upgrades to full HVAC system replacements, and contractors must assist applicants with the process to ensure that installed measures meet eligibility requirements. To date, the program has resulted in 10,419 job hours, resulting in $541,694 projected annual energy savings.
“The CEA Loan program provides Maryland residents an incredible combination of savings, allowing them to pursue the best energy efficiency measures and equipment to save them energy and money in the future,” said Michael MacMillan, Chief of Staff for InClime, Inc., the CEA program administrator. “Residents and installers pay no fees, as well as no interest for 2 years, which is unique and advantageous compared to many financing options in other states and from loan programs.”
The CEA program is authorized by the Maryland Public Service Commission and administered, in partnership, by the Maryland Clean Energy Center and the Montgomery County Green Bank, with funding from EmPOWER Maryland. EmPOWER Maryland programs are funded by a charge on consumers’ energy bills. EmPOWER programs can help reduce energy consumption and save money.
Homeowners interested in improving energy efficiency and reducing utility costs should contact a participating contractor today to explore their financing options. Visit cealoan.org for more information.
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Maryland Clean Energy Center (MCEC) serves as the state green bank, which offers a broad range of resources to facilitate access to capital through leveraged or direct investment and operates financing programs targeted to serve various consumer audiences and underserved communities. MCEC provides specialized procurement and technical support to facilitate and expedite project implementation.
The Montgomery County Green Bank (MCGB) is an independent, 501(c)(3) nonprofit dedicated to helping businesses and residents affordably implement energy efficiency, clean energy, and climate-resilient solutions. MCGB supports Montgomery County, MD by driving investment into energy efficiency and clean energy through lending and investment partners in the region. These efforts include working with homeowners, renters, nonprofits, and commercial entities of all varieties.
