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New Energy Saver Loan Helps Members Finance Energy Efficiency Improvements
Energy efficiency home upgrades can help lower your monthly energy bills—but they can also be costly.
Blue Ridge Electric Membership Corporation is now offering members a way to finance qualifying energy efficiency improvements with their Energy Saver Loan program, part of the cooperative’s family of Powerful
Solutions energy efficiency and renewable energy programs being introduced in 2016.
Qualified members may borrow up to $7,500 and repay it in installments on their monthly electric bill. Qualifications include ownership of the home, Blue Ridge Electric membership for at least two years, and the home having a permanent foundation, basement or crawlspace. The members’ payment record will also be considered.
Blue Ridge Electric staff is working with local energy efficiency auditors and contractors to help identify upgrades that will provide maximum energy savings. Interested members are encouraged to take a brief prequalification survey and find more about the loan program at www.blueridgeemc.com/energy-saver-loan-program.
Blue Ridge Electric is also working with community action organizations to help lower income qualified members make weatherization and heating improvements to their homes at no cost.
Cooperatives like Blue Ridge Electric have a long history of offering weatherization loan programs to their members. For many years, Blue Ridge Electric has offered heat pump loans and its latest Energy Saver Loan program expands on that effort to cover a wider variety of improvements to help save members money and enjoy more comfortable homes.
Blue Ridge Electric modeled its Energy Saver Loan program on successful similar programs offered by other North Carolina cooperatives, including one that has been offered for 20 years and loaned $5 million to members with no defaults or write-offs that would have adversely affected other members of the cooperative.
“We’re very excited to be offering the Energy Saver Loan program to help our members make larger, more impactful energy efficiency upgrades that will reduce their energy consumption and lower their energy costs,” said Alan Merck, director of Innovative Energy Solutions. “By reducing wasteful energy consumption we are helping to keep energy affordable for all of our members.”
Blue Ridge Electric serves some 74,000 members in Caldwell, Watauga, Ashe, Alleghany, Wilkes, Avery and Alexander counties. Learn more at BlueRidgeEMC.com.