Energy-Efficiency Financing

Dakota Electric members may be eligible for a zero- or low-interest loan to finance certain energy-efficiency improvements for their home.

Great River Energy, Dakota Electric’s wholesale power supplier, has made arrangements with the Center for Energy and Environment (CEE) to offer zero- and low-interest loans for qualified Dakota Electric members to make energy-efficiency improvements in their home.

CEE, a Minneapolis-based nonprofit organization, serves as the lender for the program and will assist you through the process. Dakota Electric members should contact CEE directly at 612-335-5884 for complete details and a loan application.

Eligible Improvements

  • Ground-source heat pumps
  • ENERGY STAR® qualified air-source heat pumps
  • Electric Thermal Storage (ETS) space heating
  • ENERGY STAR qualified heat pump water heaters
  • ETS water heating
  • Electric vehicle charging stations

Heating elements must be wired to limit demand to no more than 5.5 kW. If more than one tank is used, they must be wired in series.

Loans and Interest Rates

  • 0% APR for a maximum loan amount of $7,500 and a term of 12-60 months.
  • 2.5% (2.76% APR)* for a maximum loan amount of $25,000 and a term of 12-120 months.
    * Annual Percentage Rate (APR) based on $25,000 loan for 10 years.

Important Note

The current loan terms and conditions stated, including interest rates, are subject to change at any time without notice. Further, these terms do not constitute a commitment to lend or an offer to enter into an agreement and such an offer may only be made pursuant to MN Statutes Section 47.206(3) and (4).

Rebate program is subject to change or cancellation without notice. Dakota Electric® and Dakota Electric Association® are registered service marks of the cooperative.