The Federal Housing Administration (FHA) recently began a pilot program for “PowerSaver”, a new loan that will allow Maine homeowners to borrow up to $25,000 to make energy improvements. These improvements will be based on a list of proven measures developed by FHA and the Department of Energy (DOE) that will make weatherization and comfort improvements easy and affordable across the state. Maine currently has the oldest housing stock in the country, and is more dependent on heating oil than any other state. PowerSaver will offer a clear path to reducing consumption. Richard Burbank, President of Evergreen Home Performance, spoke about the importance of such programs to Maine residents:
“PowerSaver is another financing tool in the toolkit. It’s one of the best options for many homeowners to pay for a comprehensive home energy upgrade and protect themselves from the devastating combination of high heating oil prices, inefficient old houses, and cold winters.”
To learn more about the PowerSaver program and Efficiency Maine, visit their site.
To learn more about HUD and the Partnership for Sustainable Communities, visit www.smartgrowthamerica.org/partnership.