Residential Energy Upgrade (RENU) Loan Program
Geothermal Heat Pump for Elisabeth Evans
What CCEF
Financed
Heat Pump
“I was happy with the terms and especially that I could pay it off early with no penalty.”
– Elisabeth “Liz” Evans
About the Project
Location: Denver, CO
Measure(s) Financed: Geothermal Heat Pump
The Story
The furnace in Elisabeth “Liz” Evans’ home was over 20 years old; she had no air conditioning unit installed and summers were becoming increasingly hot. After many consultations with contractors and extensive research, Liz decided to have a ground source heat pump installed in her Denver, CO home with financing from CCEF’s Residential Energy Upgrade Loan Program (RENU). She shared that with temperatures on the rise, she wanted a sustainable, energy-efficient, and cost-effective solution to her heating and cooling needs.
Liz recounted meeting with several contractors about whether an air source or ground source heat pump would be the best option for her and was getting different answers from each. After doing her own research and watching a friend’s webinar about clean energy, Liz decided that a ground source heat pump would be the best option for her home. As a bonus, the system would be eligible for a 30% federal tax credit.
ABE Heating and Cooling, the contractor she consulted with to install a ground source heat pump, suggested financing her project with RENU due to its terms and easy process. Liz shared that she had never before done a big home improvement project, but she felt that working with RENU to finance this project would contribute towards a more sustainable environment and lifestyle.
“I was happy with the terms and especially that I could pay it off early with no penalty,” Liz said. She shared that she was also satisfied with the system’s operation and that the upkeep is minimal: pulling out the air filter, cleaning it, and putting it back in every three months. She gets routine maintenance for the heat pump and is relieved to have cooled air during the summer after not having it for many years.
Liz shared the ease of the installation for such a large project. “ABE was amazing. It was a huge project because everything is already developed in an urban area. It only took two days to put in wells and three days for the interior work. I’m impressed with how efficiently they worked and how responsive they were.”
Between working with the contractors and financing with RENU, Liz is looking forward to educating her neighbors about clean energy installations and continuing to get the word out about how rewarding energy updates are to install in your home. Liz shared that she is surprised to see how few of her neighbors have solar and wants to help spread knowledge about financing with RENU.
CCEF is happy to have helped make this home energy upgrade an affordable, easy process for Liz and other homeowners in Colorado! Click here to learn more about our Residential Energy Upgrade (RENU) Loan Program.
