The most vibrant conversation in town is energy efficiency. I think by now everyone agrees it’s a great and necessary idea. But one of the lingering questions seems to be… how do we pay for it?
There are several low interest loans available for energy upgrades. One is called, PACE which stands for, “Property Assessed Clean Energy.” Several towns in Vermont have adopted this program and several more are in the process. The interest rate for PACE is 0%–6.5%, depending on income.
The main difference between PACE and other green energy loan products is the PACE loan (max $10,000 up to 10 years) can with the property if it is sold before the loan is paid off. And unlike most other loans, there is no credit requirement. Another requirement is that the homeowner must first have an energy audit with a Home Performance Contractor.
For more information about energy audits and other financing options for energy upgrades, contact Maura Campbell at Energy Smart of Vermont, 802-476-3549 or email Maura@energysmartvt.com For more information about the PACE process visit https://www.efficiencyvermont.