While the means of achieving cleaner and cheaper energy is up for debate in the Capitol, there is a proven method for Pennsylvania families to reduce energy costs and conserve energy, according to Treasurer Robin L. Wiessmann, and that is to apply for a KeystoneHELP loan.

"As legislators debate the various methods to make energy cleaner and cheaper for Pennsylvanians, I am proud that we will have provided $10 million in loans through KeystoneHELP by the end of this month to help consumers affordably improve the energy efficiency of their homes and save money on their utility bills," Wiessmann said. "I encourage all Pennsylvania homeowners to take a look, today, at KeystoneHELP."

With the arrival of autumn, KeystoneHELP loans can help families stave off high heating costs by providing low-interest, unsecured loans for EnergyStar home improvements, such as furnaces, boilers, heat pumps, insulation, siding, insulated doors and thermostats. Improvements such as these can make any home more efficient by reducing heating costs and conserving energy.

"The KeystoneHELP program is truly a win-win for Pennsylvania homeowners looking to save money and have a positive impact on our environment," Wiessmann said.

In 2006, the Pennsylvania Treasury Department partnered with AFC First Financial Corporation of Allentown, and agreed to invest up to $30 million over three years to expand KeystoneHELP statewide. Treasury's investment in KeystoneHELP provides AFC First, which specializes in consumer loans for energy efficient home improvements, with the working capital to offer below market, 8.99% unsecured financing with a 10-year repayment period.

Low-income homeowners are currently able to obtain loans at an even lower interest rate of 6.99 percent. The combination of low rates and long repayment terms means that for some borrowers, the monthly savings they realize in fuel costs can approximate their monthly repayment for the KeystoneHELP loan.

Homeowners from 60 of Pennsylvania's 67 counties have already applied for and received more than $9 million in KeystoneHELP loans since the program's statewide expansion.

"Smart investors are beginning to think of global and local factors when considering where to invest their money. And firms that embrace or develop clean, green technology are least likely to suffer from the convergence of key factors such as climate change, volatile pricing for fuels and looming carbon regulations," said Wiessmann.

The KeystoneHELP Program was set up with the help of the Pennsylvania Environmental Council.

For more information and to apply, visit the KeystoneHELP website.

NewsClips: State Offers Energy Efficient Home Improvement Loans

Link: Treasurer Funds Low-Rate Loans for Homeowner Energy Savings

9/28/2007