BankFive Launched Interest-Free Energy Upgrade Loans

Massachusetts homeowners can now access interest-free financing of up to $25,000 for energy-efficiency projects.

Updated on Oct. 13, 2026 in Home Renovation

BankFive Launched Interest-Free Energy Upgrade Loans

Live Poll

Should local governments prioritize financing energy upgrades for residents excluded from major state programs?

BankFive has introduced interest-free loans for home energy upgrades, targeting Massachusetts residents who do not qualify for Mass Save programs. The initiative aligns with the state's new $9.7 million Z-Loan Program to support energy improvements.

Why it matters

This program fills a critical financing gap for homeowners served by municipal light plants who previously lacked access to state-backed energy efficiency incentives. It helps residents install upgrades like heat pumps and insulation to improve home efficiency.

BankFive is offering loans up to $25,000 with repayment terms extending up to five years. The program specifically serves residents in more than 50 cities and towns that utilize municipal light plants.

The players

BankFive

Headquartered in Fall River, this financial institution holds $1.9 billion in assets and operates 17 locations.

Z-Loan Program

This state government initiative provides $9.7 million in financing to support energy-efficiency improvements for homeowners.

The details

Homeowners interested in the program can apply for financing through the official Z-Loan Program website. Eligible projects include the installation of heat pumps, high-efficiency water heaters, and home insulation upgrades.

BankFive was founded in 1855.
The Z-Loan Program was officially announced on October 2, 2026.

Culture Shift

The Z-Loan Program mirrors the broader societal shift toward sustainable home upgrades by filling coverage gaps in existing state programs. It marks a strategic departure from centralized efficiency mandates by empowering municipal utility customers to secure private financing for green home improvements.

Homeowners can lower their initial capital requirements for high-cost upgrades like heat pumps by utilizing interest-free five-year repayment plans. Residents in the 50 participating municipalities should confirm their specific utility provider status before beginning the online application.

The takeaway

Homeowners should evaluate their eligibility for Mass Save programs first, as the Z-Loan Program specifically targets those excluded from those state incentives. Taking advantage of interest-free financing can significantly reduce the total cost of ownership for long-term energy-efficient home improvements.