The Vermont Public Service Department plans to issue a request for proposals soon seeking banks and credit unions to help finance an expanded thermal energy efficiency program.
The state plans to invest $670,000 to leverage up to $6.5 million in private sector funds for residential efficiency and clean heating technologies.
“Even though energy efficiency and renewable energy investments save money over time, getting over the upfront costs can be a barrier for many Vermonters,” said George Twigg of Efficiency Vermont. The fund will be used to help homeowners overcome that barrier through a loan loss reserve, credit enhancement for customers, and other tools to increase access to financing.
Watch EnergyEfficiencyMarkets.com’s RFP page as more details become available about the upcoming solicitation.