MONTPELIER, Vermont — Vermont is making an investment that will allow up to $6.5 million in loans to make homes more energy efficient and promote clean heating technologies, Gov. Peter Shumlin and Public Service Commissioner Chris Recchia announced Thursday.
Speaking at a Statehouse news conference, Shumlin and Recchia said a $670,000 investment would be used to free up the larger amount of money.
"Investments in energy efficiency save Vermont families money on their fuel bills, but also support local jobs, strengthen the economy, and reduce greenhouse gas emissions," Shumlin said. "Everybody wins with this investment."
It's expected that with an average home loan of $5,000 for energy efficiency improvements, up to 1,300 homes can be served through the program.
Recchia said thermal efficiency is one of the most cost-effective ways for Vermonters to reduce their energy bills.
The Public Service Department, the Clean Energy Development Fund, and the Vermont Low Income Trust for Electricity have joined together to make the $670,000 available as a way to free up $6.5 million in private sector funding for the project.