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Using Less Residential Electricity is the Goal of Federal Loan Program

Although some energy-efficiency incentives offered by electric utilities may have expired by now, some utilities are still offering rebates, even to electric customers that have switched to an alternative electric supplier. However, a new, more ambitious program by the federal government is helping homeowners who want to do more than install CFL light bulbs or trade out their old refrigerators for new, energy-efficient models.

To encourage large home energy-efficiency upgrades, the U.S. Department of Housing and Urban Development in November began a two-year pilot program to offer low-interest, government-backed PowerSaver loans to qualified homeowners who are looking to reduce monthly utility bill costs.

Homeowners can apply for PowerSaver loans of up to $25,000 at eighteen regional and national lenders, often at or below-market rates. The loans are meant to finance big-ticket home energy-efficiency upgrades such as high-efficiency HVAC systems, tankless water heaters, solar panels, and geothermal heating and cooling systems.

The loans, which will serve an estimated 30,000 borrowers over the length of the pilot program, are expected to help homeowners save energy, reduce pollution, and create at least 3,000 jobs in the energy-retrofit market.


U.S. Helps Homeowners Get Loans to Improve Energy Efficiency, USA Today, April 25, 2011.

HUD Announces Pilot Program to Help Homeowners Pay For Energy Improvements to Their Homes, U.S. Department of Housing and Urban Development press release, Nov. 9, 2010.

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*Certain Terms and Conditions apply. This offer is available to first-time customers only. Customers must sign up for a fixed-rate energy plan. The plan may include a monthly service fee depending on the product. Use promo code which is showing above to qualify. Rate expires at the end of the term. Canceling or changing supply service prior to the end of the fixed-rate term may subject the customer to an early termination fee based on the product details. To be eligible to receive Spark Energy rewards, customers must enroll in a fixed term plan and maintain an active Spark Energy account in good standing (no past-due balance owed) for 45 days after the beginning of service. May not be redeemed for cash. This offer is subject to change or cancellation without notice prior to customer acceptance. This offer is nontransferable and cannot be combined with any other offers. This offer applies to services areas where Spark Energy LLC is active. The offer expires on 12/31/2021. See the Terms of Service and Electricity Facts Label (applicable only for TX) at www. SparkEnergy.com for more details.
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