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Utility On-Bill Financing (Illinois)
Illinois utilities — Ameren Illinois, ComEdSee programDeadline: Rolling where open — VERIFY current availability; programs change frequently.
Financing for energy-efficiency upgrades repaid directly through the customer's utility bill, at a fixed utility-bill charge intended to be offset by energy savings, with no separate lender relationship. In Illinois this runs primarily through the statewide Small Business / Multi-Family Energy Efficiency Loan Program (administered by Energy Finance Solutions, il.energyfinancesolutions.com), whose participating utilities include ComEd, Ameren Illinois, Nicor Gas, North Shore Gas, and Peoples Gas — small-business customers (peak demand under 100 kW) can borrow $500 to $150,000 at roughly 7.49% fixed over 1 to 10 years, repaid on the utility bill with no prepayment penalty. Ameren Illinois also runs a separate residential on-bill program (around 8.99%). Important nuance: for SMALL BUSINESS the on-bill loan flows through that statewide program (ComEd-side and the gas utilities), while Ameren own-branded on-bill is residential-only — Ameren small-business projects use rebates plus direct-install instead. Confirm the specific utility current program terms before presenting to a client.
Program details
- Agency
- Illinois utilities — Ameren Illinois, ComEd
- Level
- Utility
- Category
- Utility On-Bill Financing
- Eligibility
- Customer of the administering utility in good standing; measures from the utility's qualifying-equipment list. Best for small-business LED, HVAC, and smaller efficiency retrofits where savings cover the on-bill charge.
- Funding Amount
- Statewide small-business loan: $500 to $150,000 unsecured, roughly 7.49% fixed, 1 to 10 year terms, repaid as a line item on the utility bill with no prepayment penalty. Separate Ameren residential on-bill runs around 8.99%. Caps and rates reset by program year.
- Deadline
- Rolling where open — VERIFY current availability; programs change frequently.
- Status
- open
- Geographic Scope
- Illinois only
- Requires Utility
- Ameren Illinois / ComEd
- Project Types
- lighting_led, hvac, commercial_efficiency
- Client Types
- commercial, small_business
- Notes
- Per Research-Tool Verification Pattern: do NOT state availability to a client without checking the utility's live program page. Pairs with utility rebate (reduces financed amount) and, for larger scopes, 179D/30C (reserve federal credits for the bigger capital stack).
Source: Grantya research. Confirm current terms with the administering agency before applying.