Vermont to seek $6.5 million in private financing for thermal efficiency

Feb. 24, 2014
Vermont plans to seek bank and credit union partners to finance $6.5 million for home thermal efficiency and clean heating technologies. The state is kicking in $670,000 in public funds to leverage the private money.

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.

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Elisa Wood is an award-winning writer and editor who specializes in the energy industry. She is chief editor and co-founder of Microgrid Knowledge and serves as co-host of the publication’s popular conference series. She also co-founded RealEnergyWriters.com, where she continues to lead a team of energy writers who produce content for energy companies and advocacy organizations.

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