Great River Energy: Energy Efficiency Loan

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Great River Energy (GRE) is helping customers make energy improvements in their homes. 

The guidelines below are subject to change at any time without notice. Loan funds are subject to availability. Please call or email us for complete details.

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The following GRE electric co-ops are participating: Arrowhead, Brown County, Connexus, Cooperative Light and Power, Dakota, East Central, Federated, Goodhue, Itasca-Mantrap, Kandiyohi, Lake Country, Lake Region, McLeod, Mille-Lacs, Nobles, North Itasca, and Steele-Waseca.

Hablamos Español: 612-335-5856

About the Loan

  • No maximum income limit.
  • Loan amounts from $1,000 – $25,000.
  • Terms up to 10 years.
  • No downpayment required.
  • Interest rate is determined by loan amount and loan term.


  • Owner-occupied, 1-4 unit properties that are the owner's primary residence.
  • Loan approval is subject to credit and program guidelines.

Current Rates

 Interest rates and program terms are subject to change without notice. APR based on loan amount of $7,500 for 0% rate and $25,000 for 2.5% rate. 

Rates starting at Term APR as low as Payment example
0% 5 years 0.586% $nan
2.5% 5 years 3.004% $17.75
2.5% 10 years 2.759% $9.43

Calculate My Payments

Based on current rates. Qualifications apply. 

Loan Details

  • This loan is secured by a mortgage to the property
  • Closing costs apply
  • An unsecured option may be available
Ground Source Heat Pump System has to meet or exceed ENERGY STAR Tier 1 energy efficiency requirements.
Air Source Heat Pump ENERGY STAR qualified.
Electric Thermal Storage Space Heating System must be capable of meeting 100% of the homes heating requirements by storing heat produced from electricity during a nightly, off-peak period.
Heat Pump Water Heater ENERGY STAR qualified.
EV Charging All electric vehicle charging stations.
Electric Thermal Storage Water Heaters System must have an Energy Factor (EF) of 0.90 or greater and a storage capacity of at least 80 gallons are eligible for the program.
  • 1 bid is required from a properly licensed contractor.
  • For do-it-yourself projects, a materials list including prices is required. The cost for labor and the purchase of tools may not be included in the loan.

The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement. Such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).

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Not sure what program works for you?

Contact us and we will find the right loan for you.

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