Residential Geothermal Loan Program [40 Pa.B. 6483]
[Saturday, November 6, 2010]The Department of Environmental Protection (Department) announces an opportunity for individuals to qualify for loans under the Residential Geothermal Loan Program (program). The program, authorized through the American Recovery and Reinvestment Act of 2009 (42 U.S.C.A § 5301), provides financing options to assist homeowners seeking to install geothermal heat pumps and whole house energy efficiency improvements, such as air sealing and insulation measures. The program is made available through the Keystone Home Energy Loan Program (Keystone HELP) by means of the Interagency Agreement between the Treasury Department and the Department. Keystone HELP is administered by AFC First Financial Corporation, a Commonwealth energy efficiency lender. The program was established to offer a prudent investment opportunity for public funds. The program also provides cost-effective energy savings to homeowners and creates jobs while promoting a qualified geothermal workforce.
To qualify for the loans, individuals must utilize a Keystone HELP contractor that is qualified to perform the work financed by the loan being sought. Additionally, individuals must certify that the project will be installed on a residence that is owned and occupied by the applicant, is the individual's primary residence and is located in this Commonwealth. The individual must agree not to accept any rebates or incentives available by an electric distribution company under the act of October 15, 2008 (P. L. 1592, No. 129). The individual must agree to disclose basic energy usage and energy cost information in the manner stipulated in the Keystone HELP program guidance. A total Department program budget is set at $5,000,0000. The budget includes funding to individuals for loan interest rate buy-down and various components necessary for program administration.
Program guidelines and application forms will be available through the Keystone HELP program web site, www.keystonehelp.com, or by contacting AFC First at (888) AFC-FIRST (232-3477) or (610) 433-7486.
JOHN HANGER,
Secretary[Pa.B. Doc. No. 10-2111. Filed for public inspection November 5, 2010, 9:00 a.m.]
