The frigid weather this winter will bring higher utility bills to many Maryland households, but residents can now apply for low-cost loans to beef up their homes' insulation and heating systems.
The Maryland Clean Energy Center this week launched the Maryland Home Energy Loan Program, under which qualified applicants can borrow up to $20,000 to plug air leaks, seal ducts and replace aging furnaces, among other things.
To qualify, a resident first must get a home energy audit. The loans need not be secured by the applicant's home. The interest rate is 6.99 percent - which the center says is half what commercial banks charge on most unsecured loans.
The loan program, offered in partnership with the Maryland Energy Administration, is underwritten with federal stimulus funds. It's aimed at helping the state achieve its twin goals of reducing energy use 15 percent by 2015 and of cutting carbon-dioxide emissions 25 percent by 2020.
To apply or learn more, go here. Or call 301-738-6280 or email loans@mdcleanenergy.org
(Energy auditor checking for drafts in Lauraville home. Baltimore Sun photo by Amy Davis)