Duke Energy settlement will fund energy efficiency financing for consumers
A new program will allow Ohio residential Duke Energy service customers to apply for interest-free loans for energy efficiency upgrades, Cincinnati.com reports. As part of Duke Energy’s $80 million settlement in an overbilling dispute, the utility has awarded a $500,000 grant to energy analytics firm EmpowerSaves and housing nonprofit Cincinnati Development for the program. Officials “hope to lend out the $500,000 to roughly 200 to 250 homeowners or landlords to each make upwards of $3,500 worth of energy improvements” including insulation and smart thermostats, according to the article. Customers will pay back the loans “over three to five years with the savings from the upgrades.” As the money is paid back, it would be loaned out again.
