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AEO Launches Residential Energy Efficiency Loan Loss Reserve Program
Tuesday, July 8, 2014 · 12:00 am
LITTLE ROCK, Arkansas (July 8, 2014) – The Arkansas Energy Office (AEO), a division of the Arkansas Economic Development Commission, today announced the launch of the Residential Energy Efficiency Loan Loss Reserve Program. The program will provide funds to participants offering residential on-bill repayment or on-bill financing programs to their customers for energy efficiency improvements such as insulation, duct sealing and HVAC replacement.
Program participants include municipal utility districts, electric cooperative of Arkansas, investor-owned utility providers, and any credit union or other capital provider working with program participants.
The program has four goals:
- For energy providers to encourage residential investments in energy efficiency upgrades or improvements that reduce energy consumption
- Reduce fossil fuel emissions while maintaining service level and delivery to ratepayers, and maximize benefits for local and regional communities
- Reduce required energy production in the region through implementation of demand side management
- Improve energy efficiency of ratepayer residential building stock
The initial program has $475,000 available. Funds are available on a first-come, first-served basis. Applications will be reviewed based on responses to the application questions. Due to limited funding available, participants will be awarded access to funds on a competitive basis.
“We are very excited in the Arkansas Energy Office about this program,” said Sara Telano, AEO’s contracts and grants manager. “There is no question that Arkansans benefit from implementing residential energy efficiency measures and this program will offer resources to help make that happen even more. Arkansas, through the many efforts of our Public Service Commission, Utilities, Co-Ops and excellent leadership from our Governor’s office, has become recognized nationally as a front runner and innovator for energy efficiency strategies. The Arkansas Energy Office is committed to offering programs like this that contribute to our State’s success.”
For additional information and application, please visit the Arkansas Energy Office website at www.arkansasenergy.org or call 1-800-558-4567.
The Residential Energy Efficiency Loan Loss Reserve Program is supported by the American Recovery and Reinvestment Act of 2009 (ARRA) Energy Efficiency and Conservation Block Grant (EECBG-DE-EE000833) and U.S. Department of Energy State Energy Program Formula funds (SEP-DE-EE0003777).