Smart-E Loan Special Heat Pump Offer (4/1/2026 - 7/31/2026)
The heat pump financing offer has been extended and will now be available through July 31, 2026.
Loan details:
- 0.99% interest rate for 5- and 7-year terms
- Maximum 0.99% special offer amount: $25,000
- 2.99% interest rate for 10-year term
- Maximum 2.99% special offer amount: $30,000
- Maximum Smart-E loan amount remains at $50,000
- Please note that loans over the maximum special offer amounts will be available at a blended rate.
- No prepayment penalties
New offer begins August 1, 2026:
- 1.99% interest rate (5-year term only)
- $25,000 maximum loan amount
- Blended rate applies to loans over $25,000 and loans including non-heat pump measures
- No prepayment penalties
Eligible Heat Pump Technologies*
- Air source heat pumps
- Ducted / ductless mini splits
- Ground source / geothermal heat pumps
- Heat pump water heaters
Homeowner Eligibility
- Homeowners must be an Eversource or Avangrid electricity customer
- Homeowner must have been approved for an EnergizeCT Heat Pump Rebate.** To learn more about the required rebates for the special offer: https://www.energizect.com/rebates-incentives/heating-cooling/heat-pumps/residential-air-source
How to get started
1. Work with a contractor. Any contractor can become eligible to join the program to offer the Smart-E loan. For this special offer, contractor must be an approved Smart-E contractor in good standing and must also be part of EnergizeCT’s Heat Pump Installer Network (HPIN).
2. Apply for a Smart-E loan. Contact one of these participating Smart-E lenders directly:
- Coreplus Credit Union
- Ion Bank
- Mutual Security Credit Union
- Nutmeg State Credit Union
- Union Savings Bank
Provide the lender with the amount you need to finance and apply for pre-approval.
3. Contractor submits the project. Once your Smart-E loan is approved, let your contractor know they can submit the project to our Smart-E team.
4. Loan closing and project completion. After the loan is closed, the contractor receives a partial payment to begin the work and will receive final payment after the project is completed.
* A blended rate will be applied if other eligible improvements are included in project.
** Special rate is only available on heat pump equipment eligible for the Energize CT rebates: air source; air-to-water; heat pump optimization; ground source; or water heater. Contractors provide the Smart-E team with an EnergizeCT Heat Pump Rebate Approval (aka Utility Reservation Letter), utility account number, and rebate reservation number.