AUGUSTA, Maine (NEWS CENTER) -- Want to lower your home heating bills? The state today rolled out a new home weatherization program that can provide low interest loans to get the work done. The federal Department of Housing and Urban Development (HUD) is teaming up with Efficiency Maine to provide the "Power Saver" program.
Power Saver will pay for insulating, tightening up homes, upgrades to heating systems and other steps to make houses warmer and more energy efficient. The Power Saver program provides loans of up to 25-thousand dollars, at a 4.99 percent interest rate, and it's available to all homeowners in Maine who meet their credit requirements. In addition, projects must reduce energy consumption and cost by a minimum of 20%.
Money to actually make the loans will come from a $20 million grant already given to Efficiency Maine through the federal stimulus program. That money is also used for a weatherization program called PACE loans, but Efficiency Maine says the HUD Power Saver loans will be available to many more people. Detailed information is available from Efficiency Maine at http://www.efficiencymaine.com.