Loans
Low-interest loans are available to qualifying Santee Cooper customers for certain energy-efficiency upgrades and for purchase of solar panels or other renewable generation.
Current Loan Rate : 6.50%
Energy Efficiency Loans
Santee Cooper offers loans to approved customers to help with the expense of installing energy efficient equipment. Loans are available for the following qualifying equipment: high efficiency electric heat pumps, duct replacements and heat pump water heaters.
Get Started!
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Qualify
You will need to complete the loan application and verify you qualify for an energy efficiency loan.
Santee Cooper will let you know by email when your application has been approved. If you do not have an email, we will contact you by phone. Applications remain active for 90 days.
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Get a Proposal
After your loan application is approved, you will need to get a proposal from a Santee Cooper Trade Ally or South Carolina Plumbing Licensed Contractor for rebate eligible equipment.
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Submit
Mail or email proposal and rebate application to:
Mail:
Santee Cooper Energy Support Services
305A Gardner Lacy Rd.
Myrtle Beach, SC 29579Email:
energy.advisor@santeecooper.com*Do not begin work until you are notified that the proposal is approved.
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Signing Loan Documents
Your loan documents will be sent to you to sign electronically as long as the program requirements are met.
Renewable Energy Resource Loans
Santee Cooper offers loans to approved customers to help in purchasing renewable energy resources. Loans are available for solar photovoltaic (PV), wind, micro-hydro and biomass generation.
Get Started!
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Make Sure You Qualify
You will need to complete the loan application and verify you qualify for a Renewable Energy Resource loan.
Renewables Solar For more information on Solar -
Contact a Trade Ally
A Santee Cooper Trade Ally will help you through the process.
Frequently Asked Questions
Your loan application will be reviewed and an approval or denial will be made within five business days. Santee Cooper will let you know by email when your application has been approved. If you do not have an email, we will contact you by phone. In case of an emergency, you can request a 24-hour notification.
Energy Efficiency Loans: Applications remain active for 90 days.
Renewable Energy Resource Loan: Applications remain active for 120 days.
Yes, you could get a rebate and not a loan. Rebates are not dependent on if you need or qualify for a Santee Cooper loan.
If you are denied a loan, you will be notified within two business days. You can still apply for a rebate if you install qualified equipment.
Yes, you can apply for a loan again this year.
You must pay off your loan before or during the sale of your home.
Energy Efficient Loan:
You can apply for a loan between $500 and $20,000. The payback period for a loan of $1,000 or more is up to 60 months. Smaller loans have a shorter payback period.
Renewable Energy Resource Loan:
You can apply for a Renewable Energy Resource loan up to $40,000 with a payback of up to 120 months.
*Total combined loan max amount: $40,000.
No, there is no penalty for paying off your loan early.
After all loan documents are processed, Santee Cooper will mail a check directly to the Trade Ally who installed your qualifying equipment.