Green Living: HUD "PowerSaver" Home Energy Loans

Home energy upgrades get U.S.-backed loans

By Lui Kit Wong, AP: Randy Magellan with the Metropolitan Development Council fills a crack around a chimney to stop warm air escaping from a house in Tacoma, Wash., on Dec. 4, 2009. The Obama administration announed federall-insured loans Thursday, April 21, to help finance such energy efficient upgrades.

Apr 21, 2011 - Many U.S. homeowners are now eligible for up to $25,000 in federally-insured loans to make energy-efficient upgrades such as adding insulation, sealing ducts or replacing windows, the Obama adminitration announced Thursday.

Consumers with good credit scores, manageable debt and some equity in their homes can get "PowerSaver" loans at or below market rates to finance efficiency measures that also include new HVAC systems, water heaters, solar panels and geothermal heating/cooling.

"We're making it easier for American homeowners to save money by saving energy," said Energy Secretary Steven Chu, noting they spend an average of $2,000 each year on utility bills. {continued}