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NEW: Providence Offers Interest-Free Loans to Offset Energy Efficiency Costs

Monday, February 28, 2011


Providence Mayor Angel Taveras announced today a new interest-free Residential Energy Efficiency Loan program designed to help eligible Providence residents make their homes more energy efficient.

Loans up to $9,500 for single-family residences — and $14,000 for two-unit residences — can be used to upgrade, replace, or purchase high-efficiency appliances like furnaces, boilers, central air conditioning, insulation, programmable thermostats, and select Energy Star products. Loans up to $6,500 per unit are also available to multi-unit residencies.

To be eligible for a loan, applicants must meet income qualifications and credit standards [www.providenceplanning.org], as well as have all improvement projects recommended by an energy assessment available free from RISE Engineering. Applicants are also encouraged to supplement loan funds with rebates available through National Grid's EnergyWise program.

"I encourage Providence residents to take advantage of the Residential Energy Efficiency Loan Program," said Taveras. "This loan can help homeowners save energy, save money, and help our environment."

Funding for the loan — provided by the Energy Efficiency and Conservation Block Grant of the American Recovery and Reinvestment Act — is limited, and potential applicants are encouraged to apply soon.


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