The MassSave® Heat Loan is available to customers in Massachusetts using Eversource, National Grid, or Unitil as their utility company. This loan offers 0% interest to make energy-saving upgrades a breeze.

What is the Timeframe for the MassSave® Heat Loan?

Currently, the MassSave® Heat Loan is available over a seven-year term. However, starting in 2025, the maximum term will change to 5 years. This means that if you’re considering applying for the loan, you should do so before 2025 if you prefer a longer repayment period.

What is the Maximum Amount for the MassSave® Heat Loan?

The maximum amount for the MassSave® Heat Loan is $50,000, which can be used to finance Heat Pump systems and Heat Pump Water Heaters. However, the maximum loan amount is scheduled to decrease in 2025, transitioning from $50,000 to $25,000.  We advise customers to take maximum advantage of this opportunity while it lasts. If you have a spacious home or multiple projects in mind, remember that the heat loan can cover expenses such as Heat Pumps, single-pane window replacements, insulation, battery backup systems, and beyond. 

What Kind of Improvements can you Finance with the MassSave® Heat Loan?

• Central Heat Pump + AC
• Ductless Heat Pump + AC
• Blown in Cellulose Insulation
• Pre insulation barriers
• Backup Batteries
• Single-Pane Windows

Can the MassSave® Heat Loan be used for Air Conditioning?

While the primary goal of the Heat Loan is to finance heating systems, both Central and Ductless Heat Pumps provide high-efficiency air conditioning across all models. So yes, it is absolutely usable for AC.

Who is Eligible to use the MassSave® Heat Loan?

The program is applicable to customers of Eversource, National Grid, or Unitil. Customers receiving rate assistance are typically not eligible, however they may be able to get a new heat pump system free of charge by contacting their local Community Action Council. If you would like assistance with this, feel free to call us and we're happy to help.

The significance of the MassSave® Heat Loan program extends far beyond individual households. By helping fund energy efficiency upgrades, it contributes to broader environmental goals, helping to mitigate climate change and reduce reliance on fossil fuels. Additionally, by making energy-saving upgrades more accessible and affordable, it promotes economic resilience and empowers homeowners to take control of their energy consumption. 

If you're ready to embark on the journey towards a more energy-efficient home, getting started with the MassSave® Heat Loan program is simple with Modern Energy. Our dedicated team of experts is here to guide you through the entire process, ensuring a seamless experience from start to finish. Say goodbye to high-interest rates and hello to zero-interest loans for up to 7 years. With Modern Energy, making environmentally conscious upgrades has never been easier or more affordable. Let us help you unlock the potential of energy efficiency and transform your home today! 

Want even more information? Visit MassSave's Website.