Efficiency Maine Green Bank
The Efficiency Maine Trust brings its financing programs together under one name: the Efficiency Maine Green Bank. Here is what is in it, which parts are for homeowners, and where Mattra fits.
What the Green Bank is
The Efficiency Maine Green Bank is a suite of financing offerings for energy projects, run by the Efficiency Maine Trust. Where possible, its programs are designed to bring private capital into gaps in the market for energy efficiency and clean energy equipment and services. They sit alongside the Trust's rebates and incentives for residents and businesses, and they aim at the same goals: saving energy, transforming the market, reducing environmental impact, keeping things fair, and leveraging the private sector.
This is a representative selection of the programs. It is not the full list of every current, past, or planned initiative.
For homeowners
Home Energy Loans
Loans for residential energy upgrades: insulation, air sealing, and heat pumps. Four options from 0% to 7.99% APR, up to $25,000, unsecured. Low- and moderate-income households can qualify for a lower income-based rate. Mattra is a Registered Vendor, which is required to use these loans.
See every loan term and requirementMobile Home Initiative Loans
Loans for people taking part in the Mobile Home Initiative, which helps owners of mobile homes switch to whole-home heat pump systems. If your home does not qualify for the heat pump because of heat loss or underbelly damage, insulation rebates of up to $5,600 may come first.
Learn more at Efficiency MaineFor businesses, municipalities, and care facilities
Mattra's work is residential, so these are listed for completeness. Follow the links for details from Efficiency Maine.
Commercial Property Assessed Clean Energy (C-PACE)
Finances energy efficiency and renewable energy improvements on commercial property. The borrowed capital is secured by a property tax assessment with an associated lien on the property.
Learn more at Efficiency MaineSmall Business Energy Loans
A range of loan options to help small business owners pay for energy upgrades such as high-performance heat pumps and variable refrigerant flow (VRF) systems.
Learn more at Efficiency MaineMunicipal Lease
Municipalities and schools can finance the balance of project costs for energy efficiency upgrades through a municipal lease.
Learn more at Efficiency MaineLong-Term Care Facility Loans
Two targeted offerings for long-term care facilities: one to finance the balance of qualifying electrification project costs, and another to finance energy audits.
Learn more at Efficiency MaineRebate, loan, or both? A rebate reduces what the project costs. A loan spreads out what is left. For most home insulation projects the best answer is both: use the rebate to cut the cost, then finance the balance. See how the rebate works and compare every financing option.
Questions people ask
What is the Efficiency Maine Green Bank?
It is the umbrella name for the financing offerings run by the Efficiency Maine Trust. These loans and financing tools complement the Trust's rebates and other incentives, and are designed to bring private capital into places where the market is not meeting the need for energy efficiency and clean energy equipment.
Is the Green Bank the same thing as the Efficiency Maine rebate?
No. Rebates are a payment toward a project and follow their own rules, including a lifetime limit and technical requirements. The Green Bank lends money to help you pay for the project up front. You can use a loan with or without a rebate.
Which Green Bank program is for homeowners?
Home Energy Loans, which fund insulation, air sealing, and heat pumps at your home. Owners of mobile homes who take part in the Mobile Home Initiative may also use Mobile Home Initiative Loans. The other programs serve businesses, municipalities, and care facilities.
Does Mattra offer Green Bank loans?
The loans come from Efficiency Maine, not from Mattra. Mattra is an Efficiency Maine Residential Registered Vendor, which is the requirement for using Home Energy Loans, and we help you scope the project and coordinate the paperwork.
Talk to Mattra About Your Project
Tell us what is going on at your home. We will tell you which areas qualify for a rebate, what a loan could cover, and what makes sense to do first.