Zero percent loans
Up to $10,000, zero interest, no money down, no credit check required
Zero percent loans help customers install electric water heaters, heating and A/C, and energy efficiency upgrades that reduce carbon emissions and energy use in the home. The loans are zero percent (0%) interest with no money-down for a term of up to 10 years. The payments are conveniently included on your monthly electric bill.
Qualifying applications must be for upgrades on the eligible list, include either a heat pump water heater or a heat pump for space heating and air conditioning, and be approved prior to start of installation.
You can check your eligibility by completing this form. Completing the form is optional and not required to secure a loan.
- Be a Peninsula Clean Energy customer on a residential rate
- Own the residence where the upgrades are installed
- Have a zero-dollar ($0.00) past-due balance on your last three PG&E billing statements
- Have no more than one other active zero percent loan with Peninsula Clean Energy
- Have a signed loan agreement prior to start of installation
- Install eligible upgrades with an approved contractor
- Heat pump water heater
- Heat pump for HVAC (heating, ventilation and air conditioning)
- Electrical panel upgrades
- Energy efficiency and weatherization work (e.g. insulation, air sealing)
To qualify for a zero percent loan, a project must include either a heat pump water heater or heat pump for space heating and air conditioning. Gas-powered appliances are not eligible.
See “Upgrades and rebate details” (below).
- Get bids and select your contractor
Select from the “Upgrades and rebate details” table, and then from “Approved contractors” table (both are below). We recommend that you contact more than one contractor and compare.
- Apply for your loan
Once you select an approved contractor, apply here for your loan with your contractor bid. We will process your application within five (5) business days.
- Sign the loan agreement
Once your application is approved, we will email you the loan agreement. Your loan will be reserved after you’ve signed the agreement.
- Install the eligible upgrades
After you’ve signed the agreement, your approved contractor can install your upgrades.
- Project documentation and payment
Once installation is complete, your contractor will prepare forms for you to sign. They will submit those forms for you. We will email you final loan terms and send payment to your contractor for the loan plus applicable rebates.
- Make monthly payments
The loan will be added to your account. You repay your loan directly through your monthly electric bill.
|Peninsula Clean Energy 1||BayREN 2||Total3|
|Heat pump water heater|
|Replace methane gas water heater||$3,000||$1,000||$4,000|
|Replace electric resistance water heater||$500||$1,000||$1,500|
|Heat pump HVAC|
|Replace gas heater/furnace||$3,500||$0-$1,000||$3,500 – $4,500|
|Additional bonus rebates|
|Electrical panel upgrade||$1,500||$0||$1,500|
|Energy efficiency and weatherization (BayREN Home+)4|
|Smart Thermostat (ENERGY STAR qualified list for Smart Communicating Thermostat)||$0||$150||$150|
|Duct sealing 10% total leakage max. (ducts or furnace/air handler/FAU located in garage do NOT qualify)||$0||$200||$200|
|Duct Replacement 5% total leakage max.||$0||$800||$800|
|Attic insulation min. R-44 (includes attic air sealing)||$0||$0.75/sf (not to exceed $1,000)||Up to $1,000|
|Wall insulation min. R-13 (2×4 framing) or R-19 (2×6 framing)||$0||$0.70/sf (not to exceed $1,000)||Up to $1,000|
|BONUS: Combine attic and/or wall insulation with heat pump HVAC (must be completed simultaneously)||$0||$500||$500|
|BONUS: Combine attic with exterior wall insulation (must be completed simultaneously)||$0||$500||$500|
|BONUS: Downsize heating and/or cooling system (requires a minimum 12 kBTU or 1 ton input reduction)||$0||$100||$100|
|BONUS: Building air sealing min. 30% total leakage reduction when combined with another measure, otherwise requires blower door test-in and test-out to qualify as a standalone building shell measure)||$0||$150||$150|
|BONUS: Combustion Appliance Safety (CAS) test-out for all measures (not available as a standalone rebate; limit one per service address)||$0||$150||$150|
- HPWH and HP HVAC upgrades must meet Peninsula Clean Energy installation requirements to be eligible for the rebate. Review detailed requirements before you start your project.
- The BayREN Home+ program is an independent regional program. You are not required to work with BayREN to access Peninsula Clean Energy rebates. You must work with a BayREN Participating Contractor and meet the BayREN eligibility requirements to get their rebate(s). Peninsula Clean Energy will do its best to keep BayREN rebate amounts up-to-date, however they are subject to change without notice. Visit the BayREN Home + website for their most up-to-date program information. BayREN only covers the Bay Area and is therefore not applicable to City of Los Banos residents.
- Combined rebates cannot exceed project costs. Review detailed requirements for more details.
- To be eligible for a zero percent loan, project must include at least one water or space heating measure, i.e. a heat pump water heater (HPWH) or a heat pump HVAC (HP HVAC) upgrade. Electrical work and energy efficiency/weatherization measures are eligible only if they are paired with a HPWH or HP HVAC.
Customers must work with an approved contractor to be eligible for zero percent loans. If you have a preferred contractor that is not on this list, please encourage them to apply by email to Programs@PenCleanEnergy.com
|San Mateo Contractors||Telephone||Eligible upgrades offered1|
|ABC Services HVACemail@example.com||Heat pump HVAC|
|Air Care Heating & Coolingfirstname.lastname@example.org||Heat pump HVAC|
|Air & Plumbing Systemsemail@example.com||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|Alternative HVAC Solutionsfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC|
|Artisan Air Heating & Coolingemail@example.com||Heat pump HVAC|
|A-Team Constructionfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|Awesome Plumbingemail@example.com||Heat pump water heater|
|Barnett Plumbing and Water Heatersfirstname.lastname@example.org||Heat pump water heater|
|Bayshore Plumbersemail@example.com||Heat pump water heater|
|Building Efficiencyfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|CastleWorks (Moore Mechanical)||email@example.com||Heat pump water heater|
|Comfort Energyfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC|
|Contra Costa Heating and Air Conditioningemail@example.com||Heat pump water heater, heat pump HVAC|
|DG Heating & Air Conditioningfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC|
|DMG Enterprisesemail@example.com||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|Element Home Solutionsfirstname.lastname@example.org||Heat pump HVAC|
|Fuse Serviceemail@example.com||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|Galaxy HVAC Repairfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|Heating Cooling Appliance Techniqueemail@example.com||Heat pump HVAC|
|IRBIS HVAC||408-675-7765||Raymond@IrbisHvac.com||Heat pump water heater, heat pump HVAC|
|Marcucci Heating & Air Conditioningfirstname.lastname@example.org||Heat pump HVAC|
|Musial Heating & Airemail@example.com||Heat pump water heater, heat pump HVAC|
|Residential Heating and Air Conditioningfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC, electrical panel upgrades|
|Pacific Air USAemail@example.com||Heat pump water heater, heat pump HVAC|
|Plum HVACfirstname.lastname@example.org||Heat pump HVAC|
|Valley Heating, Cooling, and Air Conditioningemail@example.com||Heat pump water heater, heat pump HVAC|
|Villquin Air Servicesfirstname.lastname@example.org||Heat pump water heater, heat pump HVAC|
|Los Banos Contractors||Telephone||Eligible upgrades offered1|
|All American Plumbing Heating & Airemail@example.com||Heat pump water heater, heat pump HVAC|
|Cen-Cal Air||(209) firstname.lastname@example.org||Heat pump HVAC|
¹Only upgrades completed by an approved contractor are 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.
- Maximum amount you can borrow: $10,000 per household
- APR: 0%
- Fees: None
- Credit requirements: None
- Repayment terms: 2 to 10 years. You choose!
- Restrictions: You must be the owner of the property and have lawful authority to initiate and install the equipment
What is eligible for financing?
The following upgrades are eligible for financing:
- Heat pump water heater
- Heat pump for HVAC
- Electrical panel upgrades (main panel upgrade or sub-panel upgrade/addition)
- 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.
Can I receive a rebate and also get a loan for the equipment?
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.
Does the loan apply to the cost of the equipment and labor?
Yes, the loan applies to the installed cost of your project, including both equipment and labor.
Can I use any contractor to complete the project?
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.
If my project costs more than $10,000 can I finance it?
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.
Can I apply for multiple loans?
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.
I already installed the eligible upgrades. Am I now eligible to finance those costs?
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.
I am a landlord, do I qualify?
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.
How will this affect my bill?
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.
Are there any penalties for late payments or non-payment?
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.
Will this appear on my credit report?
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.
How long do I have to repay the loan?
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.
Can I pre-pay part or all of the loan?
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.
What happens if I sell my home and/or move?
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.
Can I transfer the loan to someone else?
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.
Who is BayREN and what is their role in the program?
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.
How does a contractor become a Zero Percent Loan approved contractor?
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.
Are all BayREN participating contractors approved contractors for the Zero Percent Loan Program?
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.
Who can I contact with additional questions about the Zero Percent Loan Program?
If you have further questions, please email programs@PenCleanEnergy.com with the subject line “Zero Percent Finance question”.
How will I receive payment for the amount borrowed?
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.