Financing

0% financing & rebates

As a PCE customer, you have access to zero-interest loans up to $10,000 plus cash rebates to help fund your all-electric home conversion. No money down. No credit check required.

Overview

Making going electric more affordable

Get away from natural gas with ease:
No-cost financing and cash rebates are available for electric upgrades.

Have you considered installing electric appliances, such as water heaters and HVAC? Are you worried the upfront costs are too high to make it worth it?

We make those upfront costs way more manageable. Get cash rebates and zero-interest financing for up to $10,000 on eligible expenses, no money down, and a term of up to five years. Plus, no credit check is required! And your payment is conveniently included on your monthly bill.

Benefits of Financing

Why should you use financing to go electric?

Learn how 0% interest financing from PCE makes sense for going electric.

Easy application

Getting started with financing is easy. Just fill out the application online and upload your contractor’s quote. Our team will review it and reply within five business days.

Great rates & terms

With zero interest, no money down, no credit check, and up to 5 years to pay back the loan, you get all of the advantages of new, cheaper, more modern, and cleaner appliances without having to wait.

Convenient monthly payments

Once your application is approved, you can begin your upgrades. PCE will pay your contractor directly. Your monthly payments will be conveniently included as a line item on your monthly utility bill without the need for any extra paperwork.

Save on energy costs, fast

Reducing or eliminating your home’s dependence on natural gas can lower your monthly energy costs. Electric heating systems, for example, have higher energy efficiency than natural gas, resulting in lower energy bills. With a zero-interest loan on electric upgrades, you can enjoy these savings right away without having to come up with the money to pay for upgrades all at once.

Loan Process

Want a 0% loan? Here’s how it works

Follow this step-by-step outline of upgrading to electric with a zero percent interest loan from PCE—no credit check required!

1. Select your project and contractor

Select your projects from the Upgrades and Rebate Details table below, then select a contractor from the Approved Contractors list. We recommend that you contact more than one contractor and compare quotes.

2. Check your eligibility & apply for a loan

After you select an approved contractor, check your eligibility and then apply for your loan with your contractor’s bid. We will process your application within five business days.

3. Sign the loan agreement

Once your application is approved, we will email you the loan agreement. Your loan will be made after you’ve signed the agreement.

4. Get your new appliances installed!

After you’ve signed the agreement, your approved contractor can install your new upgraded appliances.

5. Obtain documentation & payment

When the installation is complete, your contractor will prepare forms for you to sign and they submit them for you. We will email you the final loan terms and send payment to your contractor.

6. Make payments conveniently

The loan payment will be added to your account as a line item on your monthly bill. You conveniently repay your loan as part of your bill each month.

Summary of Loan Terms

PCE 0% financing

Here is a quick list of loan terms for financing your project:

Maximum amount to borrow: $10,000

APR: 0%

Fees: none

Credit requirements: none

Repayment terms: 2-5 years (your choice!)

Restrictions: You must own the property and have lawful authority to initiate and install the equipment.

Loan Eligibility

Do you qualify?

Find out if you’re eligible for a zero percent interest loan on electric appliance upgrades.

Determining your eligibility is easy. Review requirements below, or use our form to see if you qualify.

Eligibility checklist for 0% interest loan

You must:

Be a Peninsula Clean Energy (PCE) customer on a residential rate
Own the residence where the upgrades are installed
Have a zero dollar ($0.00) past-due balance on your last three PG&E billing statements
Have no more than one other active zero-percent loan with Peninsula Clean Energy
Have a signed loan agreement before the start of installation
Install eligible upgrades with an approved contractor

Eligible upgrades:

How to Apply

Complete your application online

It’s easy to apply for zero-percent interest financing from PCE for your electrification project and get your application reviewed quickly.

Just fill out the application online and we’ll get back to you within five business days.

Rebates

Get cash back for electric upgrades

Rebates make it cheaper to get new electric appliances for your home.

If you’re worried about the upfront cost of going electric, there are plenty of rebate options available to you. Through PCE and the state and federal governments, you can get cash back on key appliance purchases and upgrades, saving thousands of dollars. Here’s a quick reference to find out if your upgrade will qualify for one or more rebates. Read the full terms and conditions here.

More rebates & incentives

If you want to search for even more savings toward transitioning your home to clean energy appliances, there are regional, state, and federal programs offering incentives to help. Use the Switch Is On incentive finder tool to explore all the options available to you.

Approved Contractors

Find a trusted contractor

To be eligible for a zero-interest loan from PCE, you must work with a PCE-approved contractor on your electric upgrades. Here’s a list of contractors, their contact info, and the projects they can help with, so you can easily reach out to them directly and request quotes.

Important note: Only those upgrades completed by an approved contractor are eligible for financing. For example, if you hire an approved contractor to install a heat pump water heater and a separate non-approved contractor to upgrade your electrical panel, the electrical panel would not be eligible.

Financing FAQs

Answers to your financing questions

Financing from PCE is only available for these upgrades:

Heat pump water heater
Heat pump for HVAC
Electrical panel upgrades (main panel upgrade or sub-panel upgrade/addition)

Any upgrade not listed here is not eligible for financing.

To be eligible for a loan, a project must include a heat pump water heater or heat pump HVAC system.

Important note: Only those upgrades completed by an approved contractor are eligible for financing.

For example, if you hire an approved contractor to install a heat pump water heater and a separate non-approved contractor to upgrade your electrical panel, the electrical panel would not be eligible.

Yes. All of the upgrades eligible for the loan are also eligible for a rebate from PCE.

The rebates reduce the total project cost and, therefore, the total amount you’ll need to borrow.

The rebates will be provided directly to your contractor along with the amount borrowed—you won’t need to put any money down for the rebate amounts.

Yes, the loan applies to your project’s entire installed cost, including equipment and labor.

We’ll make a payment for any applicable rebates plus the amount borrowed directly to the contractor on your behalf after installation is complete and after the contractor submits the project documents to us.

In all cases, the loan is paid directly to the contractor, not you.

No, sorry. To receive a loan from PCE, the contractor you use must be a Zero Percent Loan Program-approved contractor (see the list).

If your preferred contractor is not already an approved contractor, you can encourage them to sign up by contacting us at: programs@pencleanenergy.com

Projects of any value are allowed.

However, you can only finance up to $10,000 of eligible upgrades.

For example, if your project costs $20,000 and you receive $4,000 in rebates, Peninsula Clean Energy will finance $10,000, and thus you will need to cover the remaining $6,000 up front with your contractor.

You can apply for up to two loans for a combined total of no more than $10,000 per electric account.

For example, you can have one $10,000 loan for one project or two $5,000 loans from separate projects.

The combined borrowed amount cannot exceed $10,000.

No, sorry. This program is only for new projects.

To qualify for financing, residents must apply, be approved for the program, and sign the Zero Percent Loan Agreement prior to completing the upgrades.

It depends. The loanee must be the PG&E account holder.

If you own the home and are the PG&E account holder (i.e., the bill is in your name), you can qualify.

If the PG&E account holder is your tenant, you cannot.

Your loan payment will be itemized on page 4 of your bill (“Details of Peninsula Clean Energy Generation Charges”) as a line item called “Energy Upgrade Loan Repayment”.

This line will tell you how many monthly payments you have left.

On page 1 of the bill, the monthly loan payment will be combined with PCE’s monthly electricity generation charges into a single line.

PCE’s on-bill loan payment policies are the same as for PCE’s electric generation payments, which can be found under our Delinquent Accounts and Bad Debt Collections Policy.

If you fail to make payments after 150 days, the debt could be sent to a collections agency.

You can repay the loan over 2 to 5 years.

You choose the loan term when you fill out your financing application.

You can change the loan term before the installation is complete, but it can’t be changed after that.

You may prepay the loan in full, but we cannot process partial prepayments.

Full loan prepayments must be sent directly to PCE via check. You cannot make a prepayment by overpaying your PG&E bill.

Please contact us at programs@pencleanenergy.com to arrange details.

In that case, you will need to pay the balance of the loan in full.

Any closure of the PG&E account will require payment of the balance in full.

You can send the remaining payment directly to PCE via check—it cannot be done through payment of your PG&E bill.

Please contact us at programs@pencleanenergy.com to arrange payment details.

No. The loan is associated with the PG&E account holder and the property account number at the time the upgrades are completed.

It cannot be transferred.

Approved contractors are required to execute a program participation agreement with PCE and attend a 30-minute online training session on the program.

If your preferred contractor is not already an approved contractor, please encourage them to sign up by contacting us at: programs@pencleanenergy.com

If you have further questions, please email programs@pencleanenergy.com with the subject line “Zero Percent Loan question” and we’ll get back to you soon.

Support

Get help with electrical upgrade financing

Do you have questions about how to get a zero percent interest loan and/or rebates from PCE for your home electrical project?

We’re here to support you through the process.

Keeping up with PCE

Would you like to stay informed about PCE’s efforts to bring clean, affordable electricity to your home?