The Center has launched a new Maryland Home Energy Loan Program to help fund upgrades including better insulation and higher-rated heating and cooling equipment.
Using economic stimulus funding, the program will help the state in its goal of reducing carbon emissions by 20% by 2025.
In order to apply for a loan, homeowners must first have a home energy audit carried out by a certified auditor, which will recommend ways that their homes can save energy. Homeowners who have had a qualified audit since July 1, 2010, can apply immediately.
With an audit in hand, homeowners can apply for up to $20,000 each toward home energy improvements, with interest rates for the loans set at 6.99%.The approval process for the loans takes a few days, and improvements will need to be carried out by certified contractors.
The Maryland Energy Administration, the administrator of state stimulus funds, believes most home improvements will include upgrading insulation, plugging air leaks, sealing ducts and replacing furnaces, heat pumps and/or air conditioners that are at least 10 years old.
Maryland Clean Energy Center Executive Director Kathy Magruder said: “This month’s cold spell is a potent reminder of steps to save money by making our primary residences more energy efficient. A growing number of new Maryland businesses provide energy audits and will help consumers more easily implement the home improvements recommended in those audits.”"make green a reality" visit http://www.thesolarandwindexpo.com/
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