Heat Pump Financing

How the Loan and the Rebate Work Together

A Home Energy Loan and an Efficiency Maine rebate are two separate things, and most households use both. The rebate is money back after the work is done; the loan spreads the cost you carry until then, or for years if you prefer a smaller monthly payment. As of Efficiency Maine's June 2026 heat pump brochure, whole-home heat pump rebates are $1,000 per rebate-eligible single-zone outdoor unit for any income, $2,000 for moderate-income households and $3,000 for low-income households, up to lifetime limits of $3,000, $6,000 and $9,000 per housing unit. Upgrades completed and claimed between March 1 and December 31, 2026 get an extra $500 per housing unit. The federal heat pump tax credit ended with 2025, so these state programs are the incentives that apply this year. Our 2026 Efficiency Maine rebate guide covers the whole-home rules in detail.

Efficiency Maine's own example shows the combination: a $10,000 installation with two indoor units comes to $8,000 after the any-income rebate, $6,000 for a moderate-income household and $4,000 for a low-income household. The loan can cover that remaining cost. Which loan fits depends on your cash flow. The 1-year 0% loan costs nothing in interest beyond the $500 origination fee, but twelve payments on a large balance are steep; the 5-year and 10-year loans carry interest with no fee and a much smaller payment.

Credit and property requirements

According to Efficiency Maine, the standard loans need a minimum 620 FICO score and a debt-to-income ratio no higher than 55%. The income-based loan accepts a 580 score and up to 70% debt-to-income, but requires that Efficiency Maine has verified your income within the last year. The property must be in Maine, you must own it or have an ownership interest, and it must be your principal residence. Health and safety items can be financed but are capped at 25% of the loan. Applications go through Efficiency Maine's Green Bank platform or by phone at 866-376-2463, not through us.

What we do on our side

Both the loan and the rebate require the work to be done by a Residential Registered Vendor. We are one, so the job we quote is the job Efficiency Maine will finance. During a free in-home visit we size the system with a room-by-room load calculation, show you which layout meets the whole-home rebate rules, and give you a written estimate you can use in your loan application. After installation we complete the rebate claim with you, which must be emailed or postmarked within six months. Start with how a heat pump installation works, see whether ductless mini-splits suit your home, or check the towns we serve from the Augusta area to York County.