Description

The Emerald People’s Utility District (EPUD), which serves over 17,000 customers, initiated the Solar Water Heater Program in 1997. EPUD residential customers with existing electric water heaters that switch to solar hot water heaters are eligible for a $600 rebate, as well as a zero-interest loan. The rebate budget is approximately $18,000 per year. To be eligible for the rebate, participants must select an EPUD-approved contractor.

Qualified participants may also borrow up to $7,500 at 0% interest to cover any costs not covered by the rebate. The repayment period is three years (36 months) for loans of $1,500 or less, and up to five years (60 months) for loans of $1,500 to $7,500. EPUD screens all potential loan recipients. The loans are provided through a local credit union, and EPUD buys down the interest rate to zero percent. EPUD maintains a budget of $120,000 per year for its customer loans. To date, $350,000 in loans have been awarded to Solar Water Heater Program participants.