North Arkansas Electric Cooperative, Inc - Energy Efficiency Loan Program

North Arkansas Electric Cooperative (NAEC), a Touchstone Energy Cooperative, serves approximately 35,000 member accounts in seven different counties. The coop provides low interest rates for energy efficiency improvements in the home through the EECL Loan Program. Eligible customers include residential, commercial, industrial, public, community buildings/facilities, structures used in agricultural operations, and any other location deemed suitable by NAEC. Customers must be a NAEC member for at least six months to receive a loan.

The loan interest rate is 1% for the duration of the loan, with a maximum contract of 10 years, a minimum loan of $1,000, and a maximum loan of $20,000. Loans exceeding $20,000 must be approved by the NAEC board. The contract period will vary depending on the loan type and amount.

Loans are available for:

• HVAC: air-source heat pumps, mini-split heat pumps, and geothermal heat pumps. Air-source and mini-split have a max 8-year contract. Geothermal have a max 10-year contract. NAEC will determine the system size through an energy audit and blower door test.
• LED Lighting: energy-efficient lighting, including LED installations and retrofits. Residential installations have a max 5-year contract. Commercial installations have a max 10-year contract.
• Building Envelope Improvements and Air Sealing: building envelope improvements, including but not limited to ENERGY STAR windows and doors, ceiling/floor/wall insulation, duct work, and certain roofing applications. Weatherization loans require an energy audit by an NAEC energy advisor. The loan can cover the cost of labor and materials. Loans under $5,000 have a max 5-year contract. Loans $5,000 or more have a max 10-year contract.
• Energy-Efficient Appliances: ENERGY STAR-rated appliances. Loans have a max 5-year contract.
• Other: motor systems, irrigation or water systems, compressed-air systems, energy storage devices, commercial energy audits, and EV chargers. The contract period with depend on the size of the loan.