Financing
0% financing through PCE
As a PCE customer, you have access to zero-interest loans up to $10,000 plus cash rebates to help fund your all-electric home conversion. No money down. No credit check required.
Loan Terms & Benefits
Why use financing to go electric?
Learn how 0% interest financing from PCE benefits you in going electric.
Top benefits of PCE financing
Just fill out the application and upload your contractor’s quote. Our team will review and reply within five business days.
Benefit from zero interest, no money down, no credit check, and 5 years to pay back the loan – just for being a PCE customer.
Once you’ve been approved and you’ve completed your home upgrades, PCE will pay your contractor directly, and your payments will be conveniently included in your monthly electric bills.
Reducing or eliminating your home’s dependence on natural gas can lower your monthly energy costs. Electric heating systems, for example, have higher energy efficiency than natural gas, resulting in lower energy bills. With a zero-interest loan on electric upgrades, you can enjoy these savings right away without having to come up with the money to pay for upgrades all at once.
Here is a quick list of loan terms for financing your project:
Maximum amount to borrow: $10,000
APR: 0%
Fees: none
Credit requirements: none
Repayment terms: 2-5 years (your choice!)
Restrictions: You must meet all the eligibility requirements.
Ready to save more time and money?
You can even combine your loan with other rebates and offers. Click below to explore our incentive finder or to start your loan application.
Loan Process
Want a 0% loan? Here’s how it works
Follow this step-by-step outline of upgrading to electric with a zero percent interest loan from PCE—no credit check required!
1
Complete your application
After you select an loan approved contractor, apply for your loan with your contractor’s quote quote. We will process your application within five business days.
2
Sign the loan agreement
Once your eligibility is confirmed, we will email you the loan agreement. Your loan will be approved approved after you’ve signed the agreement.
3
Get your new appliances installed!
After you’ve signed the agreement, your approved contractor can install your new upgraded appliances.
4
Sign off on your installation & payment release
When the installation is complete, your contractor will prepare forms for you to sign and submit them for you. We will then send payment directly to your contractor for the loan and rebate amounts.
5
Make payments conveniently
The loan payment will be added to your on your monthly electricity bill. You conveniently repay your loan as part of your bill each month.
Loan Eligibility
Do you qualify?
Find out if you’re eligible for a zero percent interest loan on electric appliance upgrades.
Eligibility checklist for 0% interest loan
You must:
- Be an active PCE residential customer
- The legal owner of the residence
- Have the PG&E bill in your name
- Have a $0 past-due balance on your last three PG&E bills
- Have no more than one active loan with PCE
- Have a signed loan agreement before the start of installation
- Install eligible upgrades with a loan approved contractor
Eligible upgrades:
- Heat pump water heater
- Heat pump for HVAC
- Electrical panel upgrades
Financing Application
Get access to money-saving programs
Get cash back for electric upgrades
Approved Contractors
Find a trusted contractor
To be eligible for a zero-interest loan from PCE, you must work with a PCE-approved contractor on your electric upgrades. Here’s a list of contractors, their contact info, and the projects they can help with, so you can easily reach out to them directly and request quotes.
Important note: Only those upgrades completed by an approved contractor are eligible for financing.
Financing FAQs
Answers to your financing questions
Financing from PCE is only available for these upgrades:
- Heat pump water heater
- Heat pump for HVAC
- Electrical panel upgrades (main panel upgrade or sub-panel upgrade/addition)
Any upgrade not listed here is not eligible for financing.
To be eligible for a loan, a project must include a heat pump water heater or heat pump HVAC system.
Important note: Only those upgrades completed by an approved contractor are eligible for financing.
For example, if you hire an approved contractor to install a heat pump water heater and a separate non-approved contractor to upgrade your electrical panel, the electrical panel would not be eligible.
Yes. All of the upgrades eligible for the loan are also eligible for a rebate from PCE.
The rebates reduce the total project cost and, therefore, the total amount you’ll need to borrow.
The rebates will be provided directly to your contractor along with the amount borrowed—you won’t need to put any money down for the rebate amounts.
Yes, the loan applies to your project’s entire installed cost, including equipment and labor.
We’ll make a payment for any applicable rebates plus the amount borrowed directly to the contractor on your behalf after installation is complete and after the contractor submits the project documents to us.
In all cases, the loan is paid directly to the contractor, not you.
No, sorry. To receive a loan from PCE, the contractor you use must be a Zero Percent Loan Program-approved contractor (see the list).
If your preferred contractor is not already an approved contractor, you can encourage them to sign up by contacting us at: programs@pencleanenergy.com
Projects of any value are allowed.
However, you can only finance up to $10,000 of eligible upgrades.
For example, if your project costs $20,000 and you receive $4,000 in rebates, Peninsula Clean Energy will finance $10,000, and thus you will need to cover the remaining $6,000 up front with your contractor.
You can apply for up to two loans for a combined total of no more than $10,000 per electric account.
For example, you can have one $10,000 loan for one project or two $5,000 loans from separate projects.
The combined borrowed amount cannot exceed $10,000.
No, sorry. This program is only for new projects.
To qualify for financing, residents must apply, be approved for the program, and sign the Zero Percent Loan Agreement prior to completing the upgrades.
It depends. The loanee must be the PG&E account holder.
If you own the home and are the PG&E account holder (i.e., the bill is in your name), you can qualify.
If the PG&E account holder is your tenant, you cannot.
Your loan payment will be itemized on page 4 of your bill (“Details of Peninsula Clean Energy Generation Charges”) as a line item called “Energy Upgrade Loan Repayment”.
This line will tell you how many monthly payments you have left.
On page 1 of the bill, the monthly loan payment will be combined with PCE’s monthly electricity generation charges into a single line.
PCE’s on-bill loan payment policies are the same as for PCE’s electric generation payments, which can be found under our Delinquent Accounts and Bad Debt Collections Policy.
If you fail to make payments after 150 days, the debt could be sent to a collections agency.
You can repay the loan over 2 to 5 years.
You choose the loan term when you fill out your financing application.
You can change the loan term before the installation is complete, but it can’t be changed after that.
You may prepay the loan in full, but we cannot process partial prepayments.
Full loan prepayments must be sent directly to PCE via check. You cannot make a prepayment by overpaying your PG&E bill.
Please contact us at programs@pencleanenergy.com to arrange details.
In that case, you will need to pay the balance of the loan in full.
Any closure of the PG&E account will require payment of the balance in full.
You can send the remaining payment directly to PCE via check—it cannot be done through payment of your PG&E bill.
Please contact us at programs@pencleanenergy.com to arrange payment details.
No. The loan is associated with the PG&E account holder and the property account number at the time the upgrades are completed.
It cannot be transferred.
Support
Get help with financing
Do you have questions about how to get a zero percent interest loan and/or rebates from PCE for your home electrical project?
We’re here to support you through the process.
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Keeping up with PCE
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