Home Energy Loans

Convert from oil to clean electric heat

The City of Seattle estimates that as many as 18,000 households heat with oil, making up nearly 18 percent of total carbon pollution in the residential sector. Heating oil is the most-expensive heating source in Seattle. To help improve air quality, prevent storage tank leaks and reduce climate pollution, Seattle has passed a law to help phase -out oil heat by 2028.

We can help you invest in your home.

We are partnering with the City of Seattle to help customers convert from oil heat. The Home Energy Loan offers fixed rates, low monthly payments and convenient repayment on your Seattle City Light utility bill.   

Even if you have a less-than-perfect credit score, if you pay your utility bill regularly, you may be eligible for a loan. Financing can be used for the purchase and installation of your new electric heat system, as well as other energy-related improvements like weatherization and windows. The cost to decommission your oil tank may also be included.

Loan Amount $2,500 - $30,000
Interest Rate 4.99% (5.227% APR*)
Term Up to 20 years
Recording Fee $200
Example $10,000 loan at 5.227% APR 120 payments of 134.80 bimonthly 
*APR, Annual Percentage Rate based on example criteria. Loan availability, terms and conditions current as of 09/01/21 and are subject to change. All loan applications are subject to credit and project approval. Applicants must be a customer of a listed participating utility. Loans are secured by a UCC-1A filing recorded with the county. Subordination may be available with lender approval, fees may. Principal balance and interest is due on sale, transfer, refinance or maturity. Examples include financing of Loan Fee and Recording Fee.

Oil Conversion Resources

Rebates and assistance: