Energy Advance Loans

There are many ways to improve energy efficiency in your home…better insulation, a new water heater, or even our innovative Earth Connect® Geothermal Heat Pump System. But sometimes, you don’t have the financial resources readily available for these improvements.

However, through Berkeley Electric Cooperative’s business partnership with Farmers & Merchants Bank of SC, you can now apply for an Energy Advance Loan. These loans can help finance energy improvements from storm doors to large appliances and feature competitive interest rates. A simple phone call to your local district office can start the process today or e-mail us for more information.

An online application can also be completed with Farmers & Merchants Bank of SC.  Applications will be submitted to Farmers & Merchants Bank after completing the form. You can also download and submit an application.

Apply Online Download Application

If you have any questions regarding your application, contact Farmers and Merchants Bank at (843) 761-8888.

What types of projects are eligible?

The Energy Advance program will finance materials and labor for energy improvements to your home or your business. Some of the projects eligible for financing include:

  • Insulation for the attic, ducts, floors, walls, water heater and water piping
  • Storm windows and storm doors
  • Replacement thermal windows and insulated doors
  • Attic ventilation systems
  • Heating and air thermostats
  • High-efficiency electric heat pumps
  • Caulking and weather-stripping
  • Air duct system repair and replacement
What qualifications are required to apply?
  • Continuous electric service with Berkeley Electric Cooperative for at least 12 months
  • Applicant must be the homeowner or business owner
  • Joint ownership requires that all parties complete an application
  • If living in a mobile home, applicant must own the home and the land it sits on
  • Heirs and ET AL properties do not qualify
  • Credit check & project approval
  • Must use approved contractor
  • List of pre-approved contractors may be obtained from any Berkeley Electric or Farmers & Merchants office location


  • Contact your local Berkeley Electric Cooperative district office and ask to speak to a Marketing & Energy Specialist, or apply on-line. You can also contact Farmers & Merchants Bank to set up an appointment.
  • Complete the Energy Advance loan application fully and return it to one of our district offices or to F&M Bank. If you apply on-line the application is automatically submitted for review.
  • Consult with The Energy ExpertsTM at Berkeley Electric Cooperative about recommended energy upgrades to improve your home’s energy efficiency and comfort.
  • Upon loan approval from F&M Bank, the member must request bids from companies on the Berkeley Electric Approved Contractor list. All work must be completed and the loan closed within thirty (30) days of approval.
  • After you have chosen a contractor, the loan will be closed by a F&M Bank loan officer and loan payments will be applied to your monthly Berkeley Electric bill.
  • Upon completion of the job, Berkeley Electric Cooperative will inspect the contractor’s work to verify projection completion per the Cooperative’s standards and contractor’s bid form.
  • The check for improvements will be issued once the standards have been satisfied.
  • Sit back in comfort and enjoy your newly improved and energy efficient home!
What are the Energy Advance loan terms?

Energy Advance Loan Terms

  • $500 minimum loan
  • $10,000 maximum loan amount
  • $50 final inspection fee (required) - included in loan amount
  • Seven year (84 mos.) loan limit
  • Secured with UCCI financing statement
  • $16 loan filing and release fee with county office
  • Principle can be repaid early with no penalty
  • Rates are between 9-10.5%
  • Simple interest loan with fixed rates

What about repayment?

The contractor will be paid once the work has been completed to the satisfaction of both the member and Berkeley Electric Cooperative.

The loan payments will be include on the member’s monthly electric bill. If the home is sold, or the title is transferred before payoff, the loan MUST be paid in full prior to the transaction.

Approved HVAC Contractors
Approved Window/Insulation Contractors

Don’t forget to visit for a list of Federal Tax Credits available for home improvements.

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Berkeley Electric Cooperative is an equal opportunity provider and employer.