MONTPELIER, Vt.—In conjunction with Earth Day yesterday, Vermont Gov. Peter Shumlin announced the expansion of the “Heat Saver Loan program,” which is available through two credit unions and which is aimed at helping Vermonters increase the efficiency of their homes and save money on their energy bills.
Launched in late 2014, the Heat Saver Loan program initially provided loans for the installation of high-efficiency boilers and furnaces. The governor announced expansion of the program to also cover weatherization, cold-climate heat pumps, solar hot water, biomass heat, and other clean heating technologies.
The loans are currently priced at rates ranging from 0% to 4.99%, based on an applicant’s household income and loan terms, with loans to $35,000 available. The loans can be obtained through both Opportunities Credit Union and Vermont State Employees Credit Union.
To obtain a Heat Saver Loan, homeowners must work with a member of the Efficiency Excellence Network or an eligible solar hot water or wood pellet system installer.