An Alternate Energy Source Loan provides a low cost alternative method of supplying affordable and reliable electric service. At the sole discretion and choice of Mor-Gran-Sou, the member may be offered a choice of an alternate energy source system, in lieu of installing a new line to a seasonal use site.
- Mor-Gran-Sou will offer low interest loans to a member who purchases an alternate energy source system. Mor-Gran-Sou will finance up to 75% of the purchase price and installation. A loan of $4,000 or greater shall not exceed ten years. Maximum loan is $10,000. A loan less than $4,000 shall not exceed five years.
- Currently the Cooperative will charge an interest rate of 8% simple interest annually on the balance. Minimum contract payment will be $25 per month. Member shall have a good credit rating. The member is free to purchase the system from any distributor.
Uses: Wind, solar, stand-by generators and other alternative energy sources.