St. Paul, Minn. (May 19, 2011) – Insulated attics do more than keep hot air inside during winter months. A properly insulated attic can keep homes cooler in summer by making it harder for steamy outside air to infiltrate living spaces. Thanks to a special financing program, Saint Paul homeowners can now insulate their attics to avoid summer’s worst.
The City of Saint Paul partners with local nonprofit the Neighborhood Energy Connection (NEC) to offer Energy Smart Homes, a no-interest, deferred repayment financing program for Saint Paul homeowners. Loans of up to $6,500 are available. The loans do not require repayment for 30 years, or until sale of the property.
“Sixty-three households have already taken advantage of Energy Smart Homes,” said Kurt Schultz, the city’s program manager. “The average loan so far has been $3,443. Borrowers have installed insulation and efficient new furnaces and boilers, too.”
Approximately 75 additional loans are available on a first-come, first-served basis.
There is no income limit to participate in this program, unlike many other energy conservation programs. Higher-income borrowers receive a one-to-one match toward their energy improvements. Lower income borrowers (with incomes less than 80% Area Median Income) can finance 100 percent of the cost of their projects, up to $6,500.
“Through partnerships with community organizations like the Neighborhood Energy Connection, we are providing resources and solutions that make it easy for residents to reduce energy and save money,” Mayor Coleman said.
Early summer is an ideal time to insulate attics. A professional installer will identify and seal hidden spaces where air leaks between the air-conditioned spaces in the home and the attic. After air sealing, the contractor will add insulation to the attic to create another barrier between conditioned and unconditioned spaces.
Funds are available until they used or until December 31, whichever comes first. Loan requirements and an application form can be found at http://thenec.org/energy_financing, or call the NEC’s LeAnne Karras at 651-221-4462 ext. 132.