St. Louis program designed to spur home energy upgrades
A new, low-interest loan program is giving residents of St. Louis incentive to make energy efficient improvements to their homes.
GreenHELP aims to help homeowners make their houses more eco-friendly and potentially trim their energy expenses, reports St. Louis Public Radio. The program also is targeting aging structures that perhaps could see the most benefit through upgrades, officials said.
The loans are offered through the city’s comptroller office.
Homeowners can use GreenHELP for:
- Heating, ventilation and air conditioning
- Doors and windows
- Energy Star appliance replacement
- Solar panels
- Installation of insulation
St. Louis invested roughly $2 million in the program in 2016.
Residents who qualify could receive a loan of up to $15,000 per applicant with a 2.11 percent interest rate and up to 10 years to repay.
While there is no minimum income requirement for the program, there are some basic qualifications that prospective applicants must meet. Applicants must be residents of St. Louis and have a credit score of 625 or above. The property has to be a single-family or two-family home, must be owner-occupied at the time of the loan, and current on all real estate and personal property taxes.