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2009 High Efficiency Air Conditioning Financing Program
MID now offers two options for residential
customers who need to replace their old, inefficient
central air with a qualifying energy-saving model.
Option 1 – A $250 cash rebate, or
Option 2 – Low interest rate financing at rates substantially below market rates. This can
lower your monthly payments to a dollar amount
that fits your budget.
How it works
Consider an energy-efficient central air conditioner
costing $7,500. With MID’s new program, a customer
who qualifies gets financing at a below-market rate
of 9.90 percent annual percentage rate (APR).
The customer buys the energy-saving central air
conditioner, borrowing $7,500 for 144 months. The
result? Savings of up to $1,300 over the term of the
loan.
How to apply for a low interest loan
Low interest rate loans are possible through a
partnership with the Electric & Gas Industries
Association (EGIA). EGIA works with utilities across
the U.S. For details on how to apply for a low interest
loan, call EGIA toll-free at 1-866-367-3442, extension
324, or visit www.egia.org/mid.
How to find a contractor
Low interest financing is available only through
local air conditioning contractors certified by EGIA
and approved by MID for this program.
For a list of contractors, call 209 526-7339, toll-free
1-800-304-5373 or visit www.egia.org/mid.
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