How to Take Advantage of the Mass Save® Program
If you own a home in Plymouth County and you have been putting off energy efficiency upgrades because of the upfront cost, the Mass Save® HEAT Loan program may be the answer you have been looking for. This Massachusetts state-backed program lets qualifying homeowners finance energy-efficient home improvements at 0% interest, no interest charges for the life of the loan. Cranberry FCU is a participating Mass Save® lender, which means Plymouth County members can access this financing right here at home.
Here is everything you need to know to take advantage of the program.
What Is the Mass Save® Program?
Mass Save® is an initiative sponsored by Massachusetts' natural gas and electric utilities and energy efficiency service providers. Its mission is to help Massachusetts residents and businesses reduce energy costs and improve the efficiency of their homes and buildings.
The flagship financing product within the Mass Save® program is the HEAT Loan, Home Energy Assistance Technology Loan, a 0% interest loan for qualifying energy-efficiency upgrades. That 0% rate is not a promotional teaser. It is the actual interest rate for the entire life of the loan, because the interest is covered by the utility companies participating in the program.
Through the Mass Save® HEAT Loan, eligible Massachusetts homeowners can finance between $2,000 and $25,000 in qualifying energy upgrades at 0% APR, with terms from 12 to 84 months. The $25,000 maximum applies across the lifetime of your qualifying upgrades; once you have financed that total across one or more projects, the cap is reached.
What Energy Upgrades Qualify for a Mass Save® HEAT Loan?
The Mass Save® HEAT Loan covers a broad range of energy-efficiency improvements. Common qualifying upgrades include:
Insulation and air sealing: One of the most cost-effective improvements available. Attic, wall, and basement insulation typically qualifies.
Heat pumps and cold climate heat pumps: Heat pump systems have become one of the most popular upgrades in Massachusetts, both for heating efficiency and air conditioning.
Weatherization improvements: Upgrades that reduce drafts, improve building tightness, and reduce heating and cooling loads.
Energy storage (batteries): Battery systems paired with qualifying installations may be eligible.
ENERGY STAR windows: Qualifying window replacements may be financed when completed alongside other weatherization measures.
Heating system upgrades: Certain efficient heating system replacements may qualify.
The official Mass Save® eligibility chart lists all qualifying upgrades and any conditions attached to each. Always verify your specific upgrade with Mass Save® before assuming eligibility.
Step-by-Step: How to Access the Mass Save® HEAT Loan Through Cranberry FCU
Getting a Mass Save® HEAT Loan involves a few steps, but the process is designed to guide you through from start to finish.
Schedule your free home energy assessment. Visit the Mass Save® website or call 866-527-SAVE (7283) to schedule a no-cost Home Energy Assessment (HEA) from a Mass Save® contractor. The assessment identifies what upgrades your home needs and what qualifies for the HEAT Loan program.
Review your recommended upgrades. After your assessment, you will receive a report recommending specific upgrades. These recommendations form the basis of your HEAT Loan authorization.
Get quotes from participating contractors. For each recommended upgrade, get quotes from Mass Save®-participating contractors. These contractors understand the program requirements and can ensure the work qualifies.
Submit your quotes to Mass Save®. Once you have your contractor quotes, submit them to Mass Save® for review and authorization.
Receive your HEAT Loan Authorization Form. After Mass Save® authorizes your project, you will receive a HEAT Loan Authorization Form. This is the document you bring to a participating lender.
Apply through Cranberry FCU. Bring your HEAT Loan Authorization Form to Cranberry FCU. As a participating Mass Save® lender, we review your application for creditworthiness and process your 0% interest loan.
Work begins, and your contractor gets paid. Once your loan is approved, work can begin. When the project is complete, your contractor is paid via bank check from the loan proceeds.
Apply for available rebates. After the work is done, visit the Mass Save® savings portal to apply for any additional rebates you may be eligible for on top of the 0% financing.
A Note on Eligibility: Check Your Utility Provider First
The Mass Save® HEAT Loan is available to customers of participating natural gas and electric utilities across Massachusetts. If your home is served by a municipal light plant rather than one of the major utility providers, you may not qualify for the standard Mass Save® HEAT Loan, though separate programs may be available through your municipal utility.
Wareham and parts of Plymouth County are served by municipal utilities. If you are unsure whether you qualify, you can enter your address and utility provider to confirm your eligibility before you start the process.
Why Work with Cranberry FCU for Your Mass Save® Loan
As a Plymouth County credit union, Cranberry FCU has been part of this community since 1962. When you finance your Mass Save® energy upgrade through Cranberry FCU, you are working with a not-for-profit, member-owned institution that puts your financial well-being first, not one answering to shareholders.
Cranberry FCU is one of the few credit unions in Plymouth County participating in the Mass Save® HEAT Loan program. That means you get the benefits of local community banking, personal service, community investment, and a lender who knows Wareham and Plymouth County, combined with one of the best energy financing programs in the country.
Start Your Mass Save® Project with Cranberry FCU Today
Lower energy bills, a more comfortable home, and 0% interest financing. The Mass Save® HEAT Loan through Cranberry FCU makes it possible to start your energy efficiency project now and pay over time without a single dollar of interest.
If you are already a Cranberry FCU member, apply online or visit our branch at 2203 Cranberry Highway in West Wareham.
Not yet a member? Cranberry FCU is open to anyone in Plymouth County. Join with an initial deposit of just $5.00 and access all of our loan products, including Mass Save® financing.
Learn About Our Mass Save® Loan