PA homeowners qualify for low-interest energy improvement loans

HARRISBURG — Pennsylvania homeowners can get up to $20,000 for improvements through the recent re-launch of the award-winning Keystone Home Energy Loan Program.
Residents are eligible for low-interest, fixed-rate financing for energy efficiency improvements like HVAC equipment, water heaters, air conditioning, roofing, insulation, windows, doors, siding, and geothermal power systems. The program is offered by the Pennsylvania Treasury in partnership with the clean energy finance company Renew Financial and the Energy Programs, a national nonprofit
“Thousands of Pennsylvania homeowners have already benefited significantly from home upgrades made possible by the KeystoneHELP program, and now many more homeowners will be able to take advantage of this program,” said Gov. Tom Wolf. “We are excited to see this program made available again so that homeowners can make improvements that are not only better for their families, but better for our communities and our environment.”
Originally launched in 2006, KeystoneHELP is a public/private partnership that allowed some 14,000 homeowners to borrow up to $15,000 at competitive rates. Before going dormant in July 2014 because of lack of funding, the program became a national model for residential energy efficiency financing.
"Revitalizing Keystone HELP is a tremendous opportunity for Pennsylvania to continue our leadership in reducing air and water pollution in the commonwealth and in the nation,” said DEP Secretary John Quigley. “The cleanest electron is the one that you don't have to produce, and through KeystoneHELP, we can cut down on air pollution from electricity generation while keeping more of consumers' money in their wallets."
KeystoneHELP efficiency loans are fixed-rate loans with longer terms available than typical bank financing. Since there is no penalty for prepayment, homeowners may pay it off at any time. Up to 25 percent of the financed amount can be used for non-qualifying products .

New financing partners

The re-launch is made possible in part by a first-of-its kind financing partnership that includes PENNVEST, the state’s water infrastructure development authority. Pennsylvania is the first state in the country to use its revolving water funds to support loans financing residential energy efficiency improvements that protect water quality by reducing airborne emissions.
KeystoneHELP is also supported by a secondary loan market created by the Warehouse for Energy Efficiency Loans (WHEEL), the only national financing facility that offers affordable financing for home energy efficiency projects not only in Pennsylvania but also in many other states in the country. WHEEL was created in 2014 through a collaboration involving Renew Financial, Pennsylvania Treasury, Citigroup, EPC and others.
KeystoneHELP was recognized with a 2013 Stars of Energy Efficiency award from the Alliance to Save Energy and won several other energy efficiency awards. And both Renew Financial and Citi were recognized with an Energy Efficiency award from Environmental Finance in March, which noted the first WHEEL securitization as one of the “Deals of the Year.”
For more information visit https://keystonehelp.com or call 844-734-6631.