According to Associated Press, the House of Representatives passed legislation last week through which rural homeowners "could get loans of about $3,000 to $7,500 to make homes more energy-efficient."
Democrats said that the "loan program would promote construction jobs, boost American manufacturers, and help bring down rural energy costs. It passed 240-172 and now must be considered by the Senate."
"Under the legislation, the Agriculture Department would make zero-interest loans to rural electric co-ops, which in turn would make loans to qualified consumers at interest rates not to exceed 3 percent. The loans would be repaid over 10 years on the consumers' utility bills, with savings from the energy upgrades covering much of the cost."
To read the Associated Press story, click here.
Posted: 09/22/2010
