As an alternative to the provisions of Section 2786, an electrical or gas corporation may conclude financial arrangements with one or more lending institutions in this state engaged in making home improvement loans to provide loans to customers for purposes of home insulation pursuant to this chapter. The corporation may provide for payment of the loan balance by the customer through the corporation’s regular bill for public utility services. Any such financial arrangements shall include all of the following provisions:

following completion of the work, or at such greater rate of repayment as the customer may elect.

Notwithstanding any language contained in this section, acceptable credit cards may be utilized in lieu of the above provisions.