Peninsula Clean Energy offers interest-free financing and new rebates to install electric appliances

by Contributed Content on October 17, 2022

Peninsula Clean Energy is providing homeowners in San Mateo County interest-free financing and new rebates to install electric appliances and make other energy-efficiency upgrades.

The agency’s new Zero Percent Loan program will provide interest-free financing for up to $10,000 per home for projects that include installation of electric heat pump equipment, including water heaters and HVAC (heating, ventilation and air conditioning) units. Gas-powered equipment will not be eligible for the financing.

The loans will range from two to 10 years and be repaid on monthly electric bills. They do not require a credit check but do require the customer to have a zero past-due balance on their previous three PG&E billing statements.

Peninsula Clean Energy is also offering all of its customers in San Mateo County a new rebate of up to $3,500 for installing an electric heat pump HVAC unit and is increasing an existing rebate to $3,000 for installing a heat pump water heater. Additional rebates of up to $1,000 are available from BayREN for San Mateo County residents, with certain restrictions, and may be layered on top of the Peninsula Clean Energy rebates.

An additional $1,500 rebate is available for Peninsula Clean Energy customers in  San Mateo County to upgrade their electrical panel, if that is needed.

Income-qualified residents under the California Alternate Rates for Energy (CARE) and Family Electric Rate Assistance (FERA) programs in all of Peninsula Clean Energy’s service territory can receive an additional $1,000 rebate for installing an electric heat pump HVAC or water heater.

Nearly 60 percent of the methane gas, an unhealthy and potentially hazardous pollutant, used by homes is for heating water. Space heating is the second-largest residential use for methane gas. Heat pump HVAC designs can provide heat for less than one third the energy of a gas furnace and also keep you cool in the summer.

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