29 Years of Success...

Dollar and Energy Saving Low-Interest Loans

The Nebraska Dollar and Energy Saving Loans Program was created in 1990 using oil overcharge funds. The program makes low-interest loans available for residential and commercial energy efficiency improvements and renewable energy projects.

The Loan Process

The program works by leveraging State Energy Office funds through collaboration with individual Nebraska banks, savings institutions, and credit unions. An individual seeking a loan under the program should first go to their financial institution to see if the loan are offered. If the local lender does not offer the program you may search for lenders in your area using the Lenders Search Engine. The local lender approves the project on financial terms.

The local lender approves the project on financial terms. The financial institution then gains approval from the Energy Office, who can purchase 50%, 65%, or 75% of the loan at 0% to deliver a low interest rate to the borrower.

Renewable energy projects may be eligible for a loan under one of two circumstances. First, a project may be eligible if it is included in a list of prequalified improvements. This list includes a variety of home energy efficiency improvements such as energy efficient appliances, HVAC systems, water heaters, windows and doors, including renewable energy projects like wind power, photovoltaics, solar hot water heating, and fuel cells. Projects not listed as prequalified improvements may be eligible with the submission of an energy audit that verifies that the project will have a reasonable payback period (varies by improvement type).

Terms and Conditions

Under the program the simple interest rates are 5%, 3.5%, or 2.5% for the borrower, depending on the project. Prequalified projects are financed with a low-interest loan for up to 15 years for home and building improvements, 5 years for appliances, and 3 to 10 years for other prequalified projects.

Most loan applications are reviewed and processed within 10 working days. All qualifying work should be completed within 5 months of Energy Office's commitment of funds to invest in lender's fund.

As of December 2018, about 230 lenders at 900 Nebraska locations offered Dollar and Energy Saving Loans, and more than $348,000,000 had financed more than 29,200 projects over the life of the program.

For More information about the Dollar and Energy Saving Loans Program contact Jody Johns at: jody.johns@nebraska.gov