Residential Energy Efficiency Loan (REEL)
A new loan program for energy efficiency upgrades for Alaska homes. Coming in 2027!
Residential Energy Efficiency Loan (REEL) makes energy efficiency upgrades more accessible for Alaska homeowners. ASEC will work with participating lenders (list to be announced soon) to offer loans for energy efficiency upgrades that will reduce energy consumption or increase home comfort and safety. Repayment terms can be up to 15 years.
How does it work?
Step 1
Rating and Scope
Complete an AkWarm energy rating with an AHFC-approved rater to establish scope
Step 2
Application
Submit financial documents to a participating lender
Step 3
Approval and Financing
Lender approves and makes funds available
Step 4
Installation
Your contractor completes the upgrades
Step 5
Monthly Payments
Repay the loan to your lender
Who it is for?
REEL is for Alaskans who own and occupy single-family homes, condos, duplexes, or manufactured homes, and for the lenders, contractors, and energy raters who serve them.
What are examples of projects that are eligible?
Building envelope
Insulation, air sealing, and high efficiency windows and doors
Mechanical systems
Heat pumps, HVAC upgrades, water and heaters
Controls and lighting
Smart thermostats, energy management systems, and energy efficient fixtures
Support measures
Wiring and panel upgrades, and health and safety measures when necessary as part of an efficiency project
Solar and storage
Solar PV with battery storage (batteries are required for all PV projects)
Coming in 2027!
Sign up below to get updates on the launch, program details, and how to participate.
This material is based upon work supported by the U.S. Department of Energy’s Office of State and Community Energy Programs (SCEP) under Award Number DE-EE0010323.
This material was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof.