Improve Your Home’s Energy Use and Save Money
Lake County residents can now access low-interest loans for home energy improvements. A revolving loan fund with $50,000 set aside for Lake County is administered through Cloud City Conservation Center (C4) and the Energy Smart Colorado Partnership. As loans are paid back, they will become available again for future projects.
“This program helps to lower the up-front cost of energy improvement work so that home owners can get the benefits of a less expensive, more efficient and comfortable home. People often need a small amount of funding for work like installing insulation, but don’t have that kind of cash on hand or do not want to apply for a traditional home equity loan,” says Cameron Millard, Energy Programs Director at C4.
Turn-around times for loan processing have been as quick as 4 hours and interest rates start at 3.75%. Loans can be as low as $1,000 or as high as $25,000. Though many different types of energy improvements are eligible, homes must have an energy assessment first, so that improvements can be accurately diagnosed. Thanks to support from Xcel Energy and Lake County, energy assessments are available for a base-price of $50, a third of the cost of audits in surrounding counties. Additional energy improvements have included air sealing, insulation, heating, window and door upgrades and solar installations.
“We have a wait-list for this funding and are excited to be able to offer an easy way to help get the work done,” says Millard.