Super Saver Loans

for electric customers to make energy efficiency improvements

REBATES: You could also be eligible for a rebate for your high efficiency air conditioner or heat pump You could also be eligible for a Federal Tax Credit.

The Program

Increasing the energy efficiency of your home is good for our community. You can reduce your utility bills and help the environment. For the utility, lowering your demand means we purchase less wholesale power which helps your electric rates stay as low as possible. Instead of buying more energy, we are buying efficiency from you.

Basic Super Saver Loan

When you sign up for the Basic Super Saver Loan program, a member of our staff will visit your home and conduct a free energy audit. You will be given suggestions on how to make your home more energy efficient and how our loan program can best serve you. You will be advised of any basic insulation requirements you must meet at this time.

Home Performance Super Saver Loan

This program requires a detailed building assessment from one of our certified contractors. Due to the time and the equipment needed for the assessment, it can cost $250 to $400. Please get quotes from our list of certified Home Performance contractors. The assessment will provide you with recommendations on how to make your home Energy Star rated. For more information about Home Performance with Energy Star please consult our web page.

Loan Parameters

Our Super Saver Loan program is financed from the enterprise fund of Columbia Water and Light. No general revenue funds of the city, nor any other forms of public money, are used by the program.

Super Saver Loans Feature:

fixed, low-interest rates (Interest rate is determined by a weekly index of tax-exempt notes)
no prepayment penalties
payback period depends on type of Super Saver Loan (see comparison chart below)

To qualify, you must:

be a Water and Light electric customer
have a good credit history
own your own home
meet additional requirements and guidelines outlined below

NOTE: Super Saver Loans do not subordinate to other loans you have on your property. If you refinance your current home loan or sell your house, you will be required to pay off the Super Saver Loan before the new home loan can be processed. Please contact us if you have questions about subordination at 573-874-7325 or send us an e-mail (wlmail@GoColumbiaMo.com).

Super Saver Loan Comparison Chart

	Basic Super Saver Loan	Home Performance Super Saver Loan
Loan parameters
Residential electric customer	X	X
Commercial electric customer*	X	Limited Availability
Property owner	X	X
Minimum insulation requirements	X	X
Load Management switch	X	X
Super Saver Loan must be paid off before refinancing mortgage	X	X
Free basic energy audit (by Columbia Water & Light staff member)	X
$10,000 maximum loan with 5 year payback	X
Detailed building assessment ($250 - $400 completed by an approved contractor)		X
$15,000 maximum loan with 10 year payback		X
Efficiency items for loans
Air conditioner or heat pump (minimum SEER rating of 14 or 7.7 HSPF)	X	X
Furnace (along with AC or heat pump)	X	X
Insulation	X	X
Solar water heater	X	X
Ductwork sealing		X
Air sealing		X
Windows		X
Doors		X
Humidifiers

*The amount of money loaned and the energy efficiency items covered for commercial customers depends on the utility’s benefit cost of the upgrades.

Additional Requirements and Guidelines

Insulation

In order to maximize the efficiency of your energy improvements, the Super Saver loan program requires cost-effective insulation levels in key areas.

Attic Insulation: R-38 required.

Floor or Crawl Space Wall Insulation: Floor; R-19 required above unheated areas

Walls; R-10 required with vapor barrier

Duct Insulation: R-13 required in unheated areas

Rim Joist Insulation: R-13 required

In an existing structure, without any wall insulation, financing may be available for blowing insulation into wall cavities. Individual conditions of each home determine the amount of insulation and the cost necessary to complete the job satisfactorily. When insulating your home, you must also adequately ventilate it so that your attic can "breathe."

Heating and Cooling Systems

Allows for replacement of a furnace — natural gas, propane, or electric — if it is installed along with a new central air conditioner with an efficiency rating of 14 SEER or higher.

Solar Water Heaters

Solar water heaters that provide at least 50% of water heating costs are eligible. Only solar space heating systems that involve active solar heat collectors are eligible for loans. All solar heating projects must be permitted by Public Works and have a completed final inspection. Pool solar heaters are not eligible.

Heat Pumps

The heat pump will provide you with more efficient heating and central air conditioning. Financing available for financing a new heat pump or the replacement of an existing one. All financed heat pumps must have minimum efficiency ratings of 14 SEER and 7.7 HSPF. Customers installing a high efficiency heat pump will be offered a reduced electric rate during the months of October through May. See our heat pump rate page for more information about heat pumps.

Home Performance with Energy Star improvements

In addition to the other items you can receive financing for listed above, participants in the Home Performance with Energy Star program might be eligible for a Super Saver Loan for windows, doors, building envelope and duct sealing.

Windows and Doors: If new windows and doors are installed, they must be rated by the National Fenestration Rating Council (NFRC) with a minimum U-value of 0.40 and a SHGC rating of 0.55.

Duct Sealing: If accessible, seal the supply and return ducts to achieve a leakage rate equal to or less than 10% of the conditioned floor area.

Please see our information about Home Performance with Energy Star for the parameters of this program if you wish to receive a loan for windows, doors and/or duct sealing.

Building and Envelope Sealing: Using a blower door, air leaks along the building envelope can be sealed to achieve the lowest ACH (air changes per hour) possible.

Ready to get started?

Schedule a free energy audit or Home Performance Assessment of your home and complete a Super Saver Loan application. Please check which type of loan you are applying for at the top of the application.

Once notified by Columbia Water & Light that your Super Saver Loan is approved you can proceed with completing your project.

After completing all work, make copies of all invoices and contact Water & Light (874-7325) for final inspection. Copies of invoices and equipment ratings are necessary to complete this step. A recorder’s office fee of $27 (the amount is subject to change) will be added to the final loan amount.

You will be contacted by Columbia Water & Light when the check and the loan paperwork are completed (usually within two weeks from final inspection) to arrange an appointment for signing the loan papers at the Water & Light office: 105 E. Ash Street, Columbia, MO.

A photo ID (i.e. driver’s license) is required for each applicant at the loan paperwork signing appointment. Checks are released after the paperwork has been completed at this meeting.

You will receive monthly statements for your loan. You can pay by check or an electronic funds transfer. Payments for your loan should be for the loan only and not include payments for utility bills. There are no prepayment penalties so you can elect to pay the loan off early.