November 3, 2015
- Utilities in the Midwest are increasingly turning to on-bill financing to make home energy efficiency upgrades available to a wider range of customers, including those previously unable to fund the improvements.
- Power providers in Michigan, Iowa and Minnesota are all considering new financing arrangements, reports Midwest Energy News, and Missouri has made exploring funding alternatives a part of its state energy strategy.
- Missouri’s comprehensive energy plan calls for expanding the reach of energy efficiency, including developing residential programs targeting “hard-to-reach sectors.”
As Midwest utilities look to expand their efficiency offerings and reach new customers, Midwest Energy News reports that on-bill financing is an increasingly popular option. The arrangements allow for upgrades to be paid for through a low-interest loan paid back at rates close to a customer’s projected energy savings.
“We want to be able to reach customers who aren’t already served by the normal financing mechanism,” Anne Saliers, community services manager for the Board of Public Works, the municipal utility in Holland, Michigan, told the news outlet.