HomeAdvantage Loan Program

The HomeAdvantage program is designed with the member’s needs in mind. Not only does it feature a low-interest rate, but the loan payment will also be added to the electric bill for easy payment.  Ideally, the program is designed so that energy savings should cover the cost of the loan.

The program features a low (5%) interest rate on improvements up to $20,000 and focuses on making energy improvements to existing homes. These improvements need to have a reasonable return on the financial investment – typically less than six years – or they will not be recommended.

Berkeley Electric will provide Building Performance Institute-certified energy experts to create a prioritized list of energy improvements that will provide the largest energy savings and improved comfort.

Once a member is approved for the loan, the cooperative will provide a list of approved contractors to choose from.  As part of the process, Berkeley Electric Cooperative will conduct an in-home energy audit for the approved contractor. When the work is completed, an energy expert from Berkeley Electric Cooperative will conduct a final inspection of the contractor’s work to make sure it is completed to the required standards. Members must have a good credit rating with Berkeley Electric in order to be approved.

For more information regarding the HomeAdvantage Loan program, please e-mail us.

HomeAdvantage Program FAQs

Program Summary
  • The interest rate will be a low rate of 5%.
  • This is Berkeley Electric Cooperative’s incentive to members to make additional long-term energy improvements to their homes.
  • Typically, the payback on the improvements needs to be within six years.
  • Measures with high returns would be prioritized for members. These include such items as infiltration improvement, ductwork leakage, air flow improvement, insulation upgrades, and HVAC unit upgrades.
  • Building Performance Institute auditors will review the home, develop a recommended weatherization summary for the member and the contractor to bid on the work and close on the loan.
  • Members only wanting to implement some of the measures, like heating & cooling unit changeouts or low energy saving measures like windows can take advantage of the existing Energy Advance Loan Program with Farmers & Merchant Bank.

The general loan process is as follows: (Please note that you must be a member of Berkeley Electric for at least 12 months in order to apply)

  1. Member is interested in making the home more energy efficient or replacing an HVAC unit that has failed.
  2. Member applies for the loan. Loan applications are available from Berkeley Electric Cooperative’s website or at district offices.
  3. After loan approval, a certified auditor will be assigned and will provide recommendations to member, as well as a list of approved contractors to bid on the work.
  4. After the loan is closed, the contractor will complete the work. Berkeley Electric Cooperative will conduct a post-inspection and get member to sign-off if all work is completed properly. Berkeley Electric Cooperative will cut the check and pay the contractor. A lien is recorded on the property as security for the loan.
  5. Members will have payments on their electric bill monthly and have a home that is more comfortable and has lower energy bills.
Approved Contractors

(Download a PDF list)

  • Air Concept Solutions Mike Sowder 1609 Royle Drive Summerville, SC 29486 843-376-7214 www.airconceptsllc.com
  • Air Max LLC Medd Box 4236 Rivers Ave. North Charleston, SC 29405 843-614-3276 www.airmaxsc.com
  • Brian's Mechanical LLC Brian Hunstad 1106 Allyn Blvd. Summerville, SC 29485 843-200-0741 www.briansmech.com
  • Carolina Sun Heating & Air Mike Platt 1305-C N. Main Street Summerville, SC 29483 843-513-2360 www.carolinasunheatingandair.com
  • Coastal Air Solutions Dale Morris 409 South Live Oak Drive Moncks Corner, SC 29461 843-482-0407 www.coastalairsolutions.net
  • Reliable Heating & Air LLC Christopher Hosch 101 Moon Dance Lane Summerville, SC 29483 843-814-0198 www.reliableheatingairllc.com
  • Rudd Home Services, Plumbing, Heating & Air, LLC Rob Hodges 3447 S. Live Oak Drive Moncks Corner, SC 29461 843-879-3818 www.ruddpros.com
Apply for Loan

Please note that you must be a member of Berkeley Electric Cooperative for at least 12 months in order to apply. Members can apply online or download an application.

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Berkeley Electric Cooperative is an equal opportunity provider and employer.