Residential Energy Upgrade (RENU) Loan Program
Air Source Heat Pump for Emily and Bryan
What CCEF
Financed
Heat Pump
“All rebates were applied at the point of sale saving us thousands of dollars in project costs.”
– Emily Richardson
About the Project
Location: Denver
Measure(s) Financed: Air Source Heat Pump
The Story
Emily and Bryan wanted a more comfortable home with stable temperatures year-round. They knew their aging HVAC system wasn’t cutting it anymore. That’s when they decided to explore their options for upgrading their home’s energy efficiency and improving indoor comfort.
They chose to install an air-source cold climate heat pump, which has transformed their home’s climate control. This upgrade has been especially beneficial for Bryan, who suffers from respiratory issues and seasonal allergies. The improved air quality and consistent temperature control have significantly enhanced their home’s comfort.
“We were switching the AC on and off frequently because it was expensive to run, which led to very uneven cooling throughout the hot summer months,” said Emily.
As the residential program director for CCEF, Emily knew about the Colorado RENU program but wanted to explore all options available to determine the best way to finance the project. Emily and Bryan decided to move forward with RENU due to the straightforward terms including no hidden fees, no dealer markups, as well as the program’s strong contractor network.
They chose to work with Westerra Credit Union, a participating RENU lender, which required no salary verification or debt-to-income check, making the loan application process efficient and hassle-free. The excellent communication from Westerra ensured Emily and Bryan were well-informed throughout the entire process.
The installation of the heat pump was handled by Elephant Energy, a contractor serving the Colorado Front Range specializing in home electrification upgrades. Elephant Energy provided clear guidance on equipment needs, permitting, and rebate programs. The seamless integration of rebates and tax incentives at the point of sale resulted in significant savings, making the overall investment even more worthwhile.
“All rebates were applied at the point of sale saving us thousands of dollars in project costs,” shared Emily.
Their experience with the RENU program, Westerra Credit Union, and Elephant Energy exceeded their expectations. The project not only met their financial and environmental goals but also provided them with a more comfortable and healthier living environment.
Thinking about what your next home energy upgrade project will be? Check out the Residential Energy Upgrade (RENU) Loan Program and see what measures are eligible here.
