Tuesday, November 14, 2023
10:30 AM - 12:00 PM
What (Underserved) Borrowers Say about and Buy with Eco Financing
Session ID
A4 - Lightning: Equity
Equity & Empowerment
Anne Arquit Niederberger

Enervee launched Eco Financing in California in March 2023 (in partnership with SoCalGas and Southern California Edison and in New York in April 2023 (in partnership with the State of New York Eco Financing empowers traditionally underserved customer segments (e.g., low- and moderate-income, low credit-score, renters) to buy energy efficient products with affordable monthly payments, overcoming pervasive and persistent barriers. In this presentation, we will share equity outcomes of Eco Financing, along with insights on participants, such as: – What participants think about the program (video testimonials, results from participant surveys) – The most effective marketing messages/tactics – Results of market tests on the interplay between Eco Financing and rebates and how different customer segments respond to various commercial offers – What products people buy (efficiency, price…) Given that this is a new program, we cannot provide more details for this abstract. However, based on a pilot in 2021/22, we expect a large share of loans to go to underserved consumers, which will be the focus of this presentation. This program is demonstrating that LMI consumers will buy energy efficient products, if programs are designed to overcome the full suite of barriers they face, without having to subsidize the purchases.

Supporting Document 1