Zero percent loans

The following upgrades are eligible for financing:

1. Heat pump water heater
2. Heat pump for HVAC
3. Electrical panel upgrades (main panel upgrade or sub-panel upgrade/addition)
4. Insulation, air sealing, duct replacement, and smart thermostat

To be eligible for a loan, a project must include a heat pump water heater or heat pump HVAC system. Any upgrade not listed here is not eligible for financing. Only work completed by an approved contractor is eligible for financing. For example, if you are using 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 for financing. 

Yes. Most of the eligible upgrades for the Zero Percent Loan Program are also eligible for a rebate from Peninsula Clean Energy and/or (in San Mateo County only) the BayREN Home+ program. The rebates reduce the total project cost and therefore the total amount borrowed. The rebates will be provided directly to your contractor, along with the amount borrowed, so that you do not have to put any money down for this amount.

Yes, the loan applies to the installed cost of your project, including both equipment and labor.

No. In order to receive a loan from Peninsula Clean Energy, the contractor you use must be a Zero Percent Loan Program approved contractor (see list above). If your preferred contractor is not already an approved contractor, please 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. As an 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. As an 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. Residents must apply, be approved for the program, and sign the Zero Percent Loan Agreement prior to completing the upgrades to qualify for financing.  

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 under your name), then yes, you qualify. If the PG&E account holder is your tenant, then you do not qualify.  

Your loan payment will be itemized on page 4 of your bill (Details of Peninsula Clean Energy Generation Charges) in the line called “Energy Upgrade Loan Repayment <current payment count> of <total payment count>”. This line will tell you how many monthly payments you have left. On page 1 of the bill, however, the monthly loan payment will be combined with Peninsula Clean Energy’s monthly electricity generation charges into a single line. 

Peninsula Clean Energy’s on-bill loan payment policies are the same as for Peninsula Clean Energy’s electric generation payments which can be found under our Delinquent Accounts and Bad Debt Collections Policy. Failure to make payments after 150 days may result in the debt being sent to a collections agency.

Neither applying for a loan nor having an active on-bill loan affects your credit report. However, per Peninsula Clean Energy’s Delinquent Accounts and Bad Debt Collections Policy, unpaid accounts may be referred to a collection agent, in which case your credit report would be impacted. 

You can repay the loan over 2 to 10 years – you chose when you fill out your financing application. You can change the loan term before the installation is complete, however, once the installation is completed, this cannot be changed.  

You may pre-pay the loan in full but we cannot process any partial pre-payments. Full loan pre-payments must be sent directly to Peninsula Clean Energy via check. You cannot make a pre-payment by overpaying your PG&E bill. Please contact us at programs@PenCleanEnergy.com to arrange details.

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. Send this payment directly to Peninsula Clean Energy via check, it cannot be done through payment of your PG&E bill. Please contact us at programs@PenCleanEnergy.com to arrange details.  

No, the loan is associated with the PG&E account holder and PG&E account number of the property at the time the upgrades were completed. It cannot be transferred.  

The Bay Area Regional Energy Network (BayREN) is a regional program for the Bay Area’s nine counties focusing on energy, water and greenhouse gas reduction. BayREN’s Home+ program offers rebates for energy efficiency and electrification upgrades.  

In San Mateo County, Peninsula Clean Energy’s heat pump water heater rebates and heat pump HVAC rebates are integrated with the BayREN Home+ program. This allows customers who work with BayREN participating contractors to apply for rebates from both agencies through a single application process (BayREN’s). The BayREN program administrator reviews the application and documents and sends them directly to Peninsula Clean Energy, so that you or your contractor don’t have to submit them twice.  

If you are not working with a BayREN participating contractor for your project, BayREN does not have a role in your project. All installation documents are submitted directly to Peninsula Clean Energy in this case.  

Approved contractors are required to execute a program participation agreement with Peninsula Clean Energy. Contractors are also required to attend a Zero Percent Loan Program online training upon agreement execution. If your preferred contractor is not already an approved contractor, please encourage them to sign up by contacting us at Programs@PenCleanEnergy.com. 

Many BayREN participating contractors are approved contractors for the Zero Percent Loan Program but not all of them are. Additionally, not all approved contractors are BayREN participating contractors. To be approved for Zero Percent Loan Program, contractors are required to execute a program participation agreement with Peninsula Clean Energy. 

If you have further questions, please email programs@PenCleanEnergy.com with the subject line “Zero Percent Finance question”.

Payment for the amount borrowed plus any applicable rebates will be paid to your approved contractor on your behalf after installation is complete and the contractor submits the project documents to us. In all cases, the loan is paid to the contractor (not the customer) on the customer's behalf.