The Commonwealth this week unveiled an expanded $17 million Keystone HELPenergy conservation loan and Energy Star rebate program.

 

The deadline for applications is June 30.

 

 

Gov. Rendell said making energy saving improvements now is important for households to avoid the full impact of higher energy costs, especially as the remaining caps on electricity rates expire over the next two years.

 

"During these difficult financial times, families need to save money anywhere they can," said Gov. Rendell. "Energy efficiency upgrades will reduce their monthly bills now and keep those bills manageable as electricity rates increase.

 

"By investing in measures that conserve energy, families can save money while being comfortable in their homes and protecting the environment, too. After all, the cheapest, cleanest source of energy is energy that is not used. By giving families and businesses incentives to use energy wisely, Pennsylvania will reduce the need to build expensive new power plants, improve the reliability of our electricity service, and reduce greenhouse gas emissions."

 

 

Five new loan programs are available through the Keystone HELP Program--

 

Environmental Protection Acting Secretary John Hanger, Treasurer Robert McCord, Rep. Sheryl Delozier (R-Cumberland) and Peter Krajsa, AFCFirst, talked about the new Keystone HELP Residential Energy Efficiency Loan and Rebate Program at the home of David and Jennifer Schlegel in Lower Allen Township, Cumberland County.

 

The Schlegels used a Keystone HELP loan to install a geothermal heating and cooling system in their home in January 2007. They have since saved more than $1,150 on heating oil annually and reduced their electric bills for air conditioning and heating water.

 

 

Under the new program, the Department of Environmental Protection will provide $3.5 million to reduce the interest rates on nearly $16 million in low-interest loans, as well as $1 million for rebates through the new energy efficiency program. The loan capital is provided by the state Treasury Department and the Pennsylvania Housing Finance Authority.

 

 

The Schlegels recently contacted an approved Keystone HELP contractor for quotes on a "whole house" energy audit of their home. Two of the low-interest loans offered through the new program provide a credit of up to $325 for energy audits when loans are issued for work recommended by certified energy auditors.

 

Many homeowners will see immediate savings on their energy efficiency investments because of reduced energy consumption with the help of the program, while others will benefit from a shorter payback period on the costs to purchase and make the improvements.

 

Homeowners will receive the greatest returns on their investments by planning upgrades using a "whole-house" approach that examines the home as an interdependent set of systems for controlling temperature, air flows, moisture and other factors that impact monthly energy bills. Comfort and air quality are also considered.

 

 

Energy efficiency professionals contracted through the Keystone HELP program can help homeowners prioritize investments to optimize energy efficiency and maximize savings.

 

The program, made possible by the $650 million Alternative Energy Investment Fund legislation Gov. Rendell signed in July, is an expansion of the Keystone Home Energy Loan Program, or Keystone HELP, that was created in 2006 by the Pennsylvania Treasury Department to offer affordable energy efficiency financing options.

 

 

"By reducing energy consumption, improving efficiency, and taking advantage of more, clean renewable energy resources that are not subject to price spikes, we can save consumers half a billion dollars over the next five years," said the Governor. "However, we must do more to alleviate what will be a significant hardship for our businesses and families when electricity rate caps expire statewide.

"Five utility companies, serving the great majority of Pennsylvanians, are still subject to rate caps. When those caps expire, and all of them will by January 1, 2011, our families and businesses will see increases amounting to billions of dollars and be subject to sometimes extreme price volatility."

 

For more information, visit the Keystone HELP website.