• 866-376-2463
  • Contact
  • Search
Efficiency Maine Logo Search
Menu
  • At Home
    • Solutions
      • Appliances
      • Electric Vehicles
      • Heating and Cooling
      • Insulation
      • Lighting
      • Renewables
      • Water Heating
    • Incentives
      • Biomass Boilers and Furnaces
      • Circulator Pumps
      • Clothes Washers
      • DIY Winter Prep Rebate
      • Electric Vehicles
      • Geothermal Systems
      • Heat Pumps
      • Heat Pump Water Heaters
      • Insulation
      • Income-Eligible Options
      • Natural Gas
      • Room Air Purifiers
    • Getting Started
      • EV Rebate Participating Dealers
      • Find a Vendor
      • Home Energy Loans
      • Income-Based Eligibility Verification
      • Residential Forms and Brochures
      • Vendor Support
    • Tools and Tips
      • Best Heat Pump Water Heater Deals
      • Calculate Your Home’s Energy Efficiency
      • Compare Home Heating Costs
      • Compare Water Heating Costs
      • Electric Vehicle Resources
      • Electricity Monitor Loaners
      • Electricity Rate Options
      • Energy Saving Tips
      • EV Charging Station Locator
      • Lighting Savings Calculator
      • Residential Virtual Tour
      • Vehicle Cost Calculator
  • At Work
    • Solutions
      • Agricultural
      • Commercial Kitchen
      • Compressed Air
      • Electric Vehicles
      • Heating, Ventilation, and Air Conditioning (HVAC)
      • Lighting
      • Multifamily Weatherization
      • Refrigeration
      • Water Heating
    • Incentives
      • Agricultural
      • Circulator Pumps
      • Commercial Kitchen
      • Compressed Air
      • Electric Vehicles
      • Heating, Ventilation, and Air Conditioning (HVAC)
      • Heat Pump Water Heaters
      • Lighting
      • Multifamily Weatherization
      • Refrigeration
    • Getting Started
      • Commercial and Industrial Prescriptive Incentives
      • Commercial and Industrial Custom
      • Commercial Property Assessed Clean Energy (C-PACE)
      • Find a Qualified Partner
      • Natural Gas Customers
      • Small Business Energy Loans
      • Virtual Customer Consultations
    • Sectors
      • Education
      • Grocery and Convenience
      • Healthcare
      • Hospitality
      • Manufacturing
      • Multifamily
      • Municipal
      • Office
      • Restaurant
      • Small Business
      • Warehouse
  • Resources
    • Blog
    • Building Energy Codes
    • Case Studies
    • Events
    • Professional Training
    • Residential Forms and Brochures
    • Resources for Homeowners
    • Resources for Municipalities
    • Resources for Realtors
    • Resources for Renters
  • About
    • News
    • Board
    • Library
    • Opportunities
    • Federal Funding
    • Staff
    • Careers
    • Contact
    • Subscribe

News

May 26, 2011

Rockland Homeowners First to Weatherize Home Using Pace Loan Funds

Click here or the image above to view WCSH’s news story on our very first Maine PACE Loan.

(ROCKLAND) – Rockland residents Michael and Jody Herbert aren’t dreading next winter quite so much. That’s because they are among a growing number of Maine homeowners that have found a powerful new weapon in their arsenal to battle Maine’s perennial foes, Old Man Winter.

Just weeks after Efficiency Maine launched its Maine PACE Loan program, loan recipients are beginning to receive funds to make energy efficiency upgrades to their homes – hoping to get a jump on controlling next winter’s high energy costs.

The Herberts are the first Maine homeowners to apply for a Maine PACE Loan, and are using their loan proceeds to weatherize their home at 86 Mechanic Street in Rockland. Evergreen Home Performance, a Rockland-based company specializing in weatherization and energy efficiency, are weatherizing the home.

“Energy prices kept going up. I could just feel it was getting impossible to live here,” said Michael Herbert. “We carried in four tons of wood pellets to feed the stove in the living room and our brand new propane furnace was burning 800 gallons to get us through the winter. With two daughters in college, we couldn’t do anything until these loans became available.”

About 70 Maine municipalities have passed PACE ordinances, and additional municipalities are working on getting ordinances approved. Launched in April, 100 people have already applied for a PACE loan during a time that is normally quiet for weatherization contractors.

PACE Loans allow eligible homeowners to borrow up to $15,000 over 15 years at 4.99% for energy upgrades that generate enough savings on heating bills to pay back the loans. Unlike ordinary loans, PACE loans are transferable with the property if it is sold.

“Thousands of Mainers have discovered that the lowest cost option to heat their home is to make efficiency upgrades,” explains Michael Stoddard, Executive Director of Efficiency Maine. “On average, people who have weatherized their homes through Efficiency Maine programs use 1/3 less heating oil per year. Imagine if you used those annual savings to invest in a retirement plan or your child’s college expenses.”

About 2,000 people have weatherized their homes through Efficiency Maine programs since 2010.

Homeowners start the PACE Loan process by hiring a participating energy advisor at www.efficiencymaine.com/PACE to conduct an audit. After they prequalify for a loan, they hire vendors from a complete list of registered vendors to complete weatherization improvements including insulating, installing energy efficient windows and doors, upgrading heating systems, installing energy efficient lighting and appliances, and installing solar thermal or photovoltaic systems.

The Maine PACE Loan program was seeded by a $30 million American Recovery and Reinvestment ACT (AARA) grant from the U.S. Department of Energy. In 2009, Efficiency Maine won a competitive grant to capitalize, administer, and market the loans.

For more information on Maine PACE Loans, or for additional information about energy efficiency and Efficiency Maine programs, visit www.efficiencymaine.com, or call 1-866-376-2463.

Efficiency Maine is an independent quasi-state agency dedicated to promoting the more efficient and cost-effective use of energy in order to save money for Maine residents and businesses, expand the economy, and create jobs.

###


All News
  • Categories
    • Electricity Monitors
    • CIPI Sector Refrigeration
    • CIPI Sector Lighting
    • CIPI Sector HVAC 1
    • CIPI Insulation
    • Blog
      • Success Story
      • Residential
      • Program Highlight
      • Organizational Highlight
      • Energy Tips
      • Commercial

  • Learn More

    • At Home
    • At Work
    • Resources

    Efficiency Maine

    • About
    • Contact
    • Sitemap
    • Privacy Policy

    Contact

    866-376-2463

    INFO@EFFICIENCYMAINE.COM

    Follow Efficiency Maine Via Email

    Click to follow and receive notifications of new offers by email.

    Follow

    © COPYRIGHT 2023 EFFICIENCY MAINE