Introducing RENU
We are excited to introduce our new trusted partner, RENU! With RENU, we now offer low-cost financing for all of our projects. Starting at 6.9% and zero-money down, RENU makes it more affordable than ever to invest in electric home upgrades for your home!
What is RENU?
The Colorado Residential Energy Upgrade (“RENU”) Loan is a statewide residential loan program sponsored by the Colorado Clean Energy Fund. It makes home upgrades easy and affordable with low-cost, long-term financing for energy efficiency and renewable energy improvements.
RENU helps homeowners save money on their energy bills by improving energy efficiency and reducing energy consumption. RENU-eligible home upgrades also reduce greenhouse gas emissions.
What Home Upgrades Qualify?
Qualifying home upgrades include: heat pumps, heat pump water heaters, induction stoves, electric vehicle (EV) charging stations, efficiency & weatherization upgrades, and ventilation & indoor air quality controls.
Who Qualifies?
To qualify for RENU, homeowners must own a single-family or multi-family home of up to four units in Colorado and meet certain underwriting requirements. The loan amount, terms, and interest rate depend on the borrower’s specific energy upgrades and creditworthiness.
How Can Homeowners Apply?
To apply for RENU, homeowners must complete a credit application that is initiated by Elephant Energy and ultimately provide relevant documentation to the selected RENU lender, such as proof of income, proof of ownership, and a detailed list of their selected home upgrades. A loan officer from the RENU credit union will review the application and determine whether the borrower is eligible for the loan.
Now What?
Ready to increase your home’s comfort and energy efficiency with modern electric home upgrades? Get Your Electrification Roadmap® and a Free Estimate today!
Our friendly team at Elephant Energy will be with you every step of the way to streamline financing with RENU as well as rebate optimization through the Inflation Reduction Act (IRA) incentives (we have a guide on that, here!) We will help you achieve the best home upgrades with the lowest possible price tag.
To learn more about our team and mission, click here.
To learn more about RENU Financing, visit their website here.
To see Elevations Credit Union’s rate sheet, click here.
To see Westerra Credit Union’s rate sheet, click here.