News
$7 million for furnace rebate and energy conservation loan programs
By Governor Rell's office
Jul 24, 2008 - 4:09:10 PM

Governor M. Jodi Rell today announced that $7 million to fund two major energy conservation programs – $5 million for a program to provide rebates of up to $500 for homeowners who replace their furnaces with more efficient models and $2 million for loans to help pay for other improvements – is expected to gain approval when the state Bond Commission meets August 4.

The rebate program applies to homes and apartment buildings with four units or less. Under the law, replacement furnaces fueled by natural gas must be Energy Star-rated, while oil and propane equipment must be at least 84 percent efficient. The amount of the rebates varies depending on the income of the homeowner.

“With energy prices climbing through the roof, I am determined to give the hard-pressed consumers of Connecticut every break I can find,” Governor Rell said. “With heating oil prices climbing into the $5-a-gallon range and the costs of gasoline and food already soaring, the coming winter is going to put an unprecedented strain on family budgets. Energy efficiency improvements should not only cut heating bills but add value to homes and help conserve resources – all benefits for our consumers and our state.”

The rebate program, which will be administered by the Office of Policy and Management, is authorized under energy legislation Governor Rell signed into law in 2007.

A further $2 million will be used to “recharge” the Energy Conservation Loan Fund, which helps owners of single- and multi-family homes pay for general energy-saving improvements.

The loans can be used for automatic set-back thermostats, insulation, heat pumps, replacements roofs and windows and a variety of other energy-saving improvements. Single-family homeowners may borrow up to $25,000, while owners of multi-family dwellings may borrow up to $2,000 per unit to a maximum of $60,000 per building. The length of the loans is 10 years.

“We are looking at a wide range of actions to help Connecticut residents deal with the coming winter heating crunch,” the Governor said. “Whenever possible, we want these actions to provide more than a short-term fix. That is one reason why conservation-oriented programs like this program make so much sense.”

On Monday Governor Rell announced that cost-cutting measures she imposed in May helped turn a projected deficit for the state budget year ending June 30 into a small surplus of $22.3 million – money she is proposing be set aside in a special emergency heating fund to help residents, including senior citizens on a fixed income.

The Governor is calling for a special session of the General Assembly to approve using the surplus for energy assistance and to consider a variety of other measures she and others have proposed.

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