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Incentives/Policies for Renewables & Efficiency

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Residential On-Bill Financing Programs - Nicor Gas, North Shore Gas, Peoples Gas, Ameren and ComEd   

Last DSIRE Review: 06/18/2014
Program Overview:
State: Illinois
Incentive Type: Utility Loan Program
Eligible Efficiency Technologies: Clothes Washers, Refrigerators, Lighting, Furnaces , Central Air conditioners, Duct/Air sealing, Building Insulation
Applicable Sectors: Commercial, Residential, Multi-Family Residential
Amount:Up to $20,000 for residential homes
Up to $150,000 for multi-family residential or mixed-use buildings
See program web site for details on your utility
Terms:General Interest Rate: 4.99% for residential homes and 5.99% or less for multi-family and mixed-use buildings
General Repayment: 3, 5 or 10 years
Web Site:
Authority 1:
Date Enacted:
Date Effective:
S.B. 2350

The Illinois Energy Efficiency Loan Program, administered through AFC First and funded by participating utilities, provides loans to customers of Ameren Illinois, ComEd, Nicor, North Shore Gas, and Peoples Gas. Typically, loans of up to $20,000 can be repaid over the course of 3, 5, or 10 years. The interest rate is currently set at 4.99% although certain loan specifications may vary from utility to utility. These on-bill financing loans are designed to be repaid through regular utility bill payments and typically target residential customers, although certain utilities will allow commercial participation.

S.B. 2350 expanded the loan program to include loans of up to $150,000 to retail customers that own multi-family residential or mixed-use buildings with no more than 50 residential units. The interest rate available for these loans is 5.99% or less. 

Each utility has specific energy efficiency products that qualify for energy efficiency loans, as both gas and electric utilities are program participants. Generally, natural gas customers are eligible for financing on furnace purchases if the equipment meets program requirements. Contact your natural gas utility for details on financing for additional equipment. Electric customers may be eligible for financing on appliances, insulation measures and air conditioning systems. View program web site or contact your utility for more details.

Note: AFC First is no longer accepting applications for the current phase of the Ameren Illinois On-Bill Financing program. A similar program may be available in the near future. The EnergyLoan program is available to Ameren-approved installers, and On-Bill programs fro ComEd, Nicor and Peoples/North Shore customers. 

  AFC First Financial Corp.
1005 Brookside Road
Allentown, PA 18106
Phone: (888) 269-3133
Phone 2: (888) 232-3477
Web Site:
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2014 - 2015 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.