Vermont homeowners that use oil, propane, or kerosene as their primary heat source can reduce their fuel costs by making their homes more energy-efficient through the Warm and Weatherized Loan Program.
Loan Details:
Vermont homeowners may apply for five-year loans ranging from $2,500 to $5,000.
One loan per household.
Homeowners must meet all loan requirements as outlined by TD Banknorth.
The five year fixed interest rate will be 1.25% below the prime lending rate. For example, on November 10, 2008, the interest rate would have been 2.75%.
In order to provide quality assurance, Efficiency Vermont must approve the scope of work prior to installation.
Loans are available through June 2009 and customers must apply at one of TD Banknorth's 35 branch locations.
Loan applicants do not have to be a current TD Banknorth customer.
Loans are available for 1 to 4 family primary Vermont residences only and is not available for second homes.
Loans are not available for Vermont Gas Systems customers. Vermont Gas Systems offers comprehensive energy efficiency services for its customers. Please visit www.vermontgas.com for more information.
Heating Equipment Replacement:
The Program provides loans for Vermonters interested in replacing their inefficient oil, propane or kerosene heating equipment. State-certified technicians are available to assess existing heating equipment and install more energy efficient equipment. If you are interested in replacing your inefficient heating equipment, call your local fuel dealer or heating contractor to see if they are certified and to discuss replacement options.
Comprehensive Home Energy Efficiency Improvements:
Comprehensive home energy efficiency improvements can reduce energy bills up to 30%. Efficiency Vermont-approved Home Performance with ENERGY STAR® contractors can perform energy audits and install recommended energy efficiency improvements. Efficiency Vermont will review proposed efficiency improvements to assure that the proposal will deliver cost-effective energy savings while ensuring that potential health and safety issues are addressed. In addition, through March 31, 2009, Efficiency Vermont will pay 10% of the cost of approved energy efficiency improvements, up to $500.
Comprehensive energy efficiency improvements eligible under the Warm and Weatherized Loan Program include:
Comprehensive whole-house air sealing;
Added attic insulation installed in conjunction with air sealing where current ceiling insulation is 6 inches or less;
Insulation in wall cavities that have less than 1.5 inches insulation present;
Replacement of inefficient heating systems;
Lighting efficiency upgrades; and
Any health, safety or moisture control measures associated with the improvement package.
If you are interested in comprehensive energy efficiency improvements, please schedule an energy audit with a certified Home Performance with ENERGY STAR contractor. For a list of certified contractors visit www.efficiencyvermont.com/homeperformance or call Efficiency Vermont at 888-921-5990.
Please note: There is a fee for the energy audit. The audit fee may be included in your loan, but if you do not qualify for the loan, you will not be reimbursed the audit fee. It is recommended that you get to know your credit to see if you would be a good candidate for a loan. For more information, please visit www.MoneyEd.Vermont.gov.
