Montana Alternative Energy Revolving Loan
If you live in Montana or own a home in Montana and are looking at ways to make your home more energy efficient, you can stretch your money a long ways and increase your payback time by implementing Montana's Alternative Energy Revolving Loan Program.
This loan program provides funding for residential customers that want to incorporate the use of geothermal, hydro electric pumps, solar heating , and photovoltaic. This program is funded by the Department of Environmental Quality (DEQ) through fines and regulations and, in a small part, by the American Recovery and Reinvestment Act of 2009 (ARRA). The loan amounts cannot exceed $60,000 and must be able to reduce carbon emissions based on DEQ guidelines.
The terms of the Alternative Energy Revolving Loan Program are as follows:
- The loan amount may not exceed $60,000
- The maximum loan term is 15 years
- The loan interest rate is fixed at 4%
The low interest of this loan combined with the ability to save sufficient amounts of energy and utility costs make this program a very attractive option when considering energy efficient improvements.
Other Program Aspects
In some cases, building envelope upgrades such as windows, doors, and insulation can be included as the efficiency of the appliances purchased, particularly in the case of HVAC equipment, depend largely on the R-values and air sealing measures preformed on a home.