County launches new residential energy loan program
Snohomish County has partnered with Puget Sound Cooperative Credit Union (PSCCU) to launch a new Energy Smart loan program for Snohomish County homeowners.
By participating in this program, Snohomish County homeowners can get help with energy efficiency and renewable energy projects, including energy efficient windows and doors, insulation, heat pumps and solar system installations.
“This loan program is an asset for Snohomish County homeowners as it provides a new option for financing energy efficiency projects during a tough economic time,” said Snohomish County Executive Aaron Reardon. “The county’s Energy Smart loan program compliments existing financing options, rebates and incentives offered through the Snohomish County Public Utility District (SnoPUD), Puget Sound Energy, and others.”
The energy loan program is made possible, in part, through Energy Efficiency and Conservation Block Grant (EECBG) funding from the federal Department of Energy. The public-private partnership allows the county to leverage $644,000 in federal grant funds into approximately $12 million in energy efficiency loans during the next 20 years.
One of the goals for the program is to provide financing options for a wider pool of applicants who may not qualify for SnoPUD’s existing energy efficiency loan program or home-equity lines of credit through a financial institution. This will make it easier for homeowners to invest in their home, save energy and money, and will help create local jobs.
“Investing in energy efficiency is one of the best ways to meet future energy demand and we thank PSCCU, SnoPUD and all of our local utilities for their commitment to this program,” Reardon said.
For more information on Snohomish County’s Energy Smart Loan program or to apply online, go to http://www.psccu.org/efficiency.php.