The Residential Energy Efficiency Loan (REEL) program is the first of the programs that the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) launched in collaboration with the California Public Utilities Commission (CPUC) and the investor-owned utilities.
Through the REEL program, lenders have access to a loan loss reserve to help mitigate their risk in making energy efficiency loans. This allows lenders to provide broader access to financing for residential energy efficiency projects for customers of Pacific Gas and Electric, Southern California Edison, SoCalGas and San Diego Gas & Electric. The program enables licensed contractors to close more projects with deeper energy savings by providing customers with financing options. REEL does not require licensed contractors or customers to participate in investor-owned utility efficiency rebates or incentive programs. Participating contractors have the option to combine financing with the investor-owned utility rebates and incentives to help customers save even more money.