Maine Governor Unveils $7 Million Energy Loan Program

September 14, 2006

On September 13 Maine Governor John Baldacci unveiled a program to help Maine families pay this winter’s home heating bills. The new $7 million Home Energy Loan Program (HELP) provides low-interest rate energy improvement loans to Maine's working families.

"This is welcome news to Maine homeowners who are concerned about the high cost of heating their homes this winter," Governor Baldacci said. "MaineHousing estimates that HELP may enable homeowners cut their yearly energy consumption by up to 20%."

The MaineHousing (Maine State Housing Authority) program provides loans of up to $15,000 to homeowners with incomes up to 115% of the area median income. Loans are made at 1% to homeowners who make improvements suggested by a certified energy auditor, and at 3% interest to those who do not use an energy auditor. The cost of the energy audit may be included in the loan.

HELP loans can be used to fund a variety of energy conservation measures, including insulation and weather-stripping, heating system repair or replacement, storm doors and windows, and purchase of Energy Star® rated appliances.

For more information, read Governor Baldacci's September 13 press release.