Oregon: Clean Energy Works Oregon
Up to $30,000 in low interest financing for energy efficiency retrofits.
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In September 2009, Portland began Clean Energy Works Portland as a pilot program to finance energy efficiency retrofits for 500 homes. In April 2010, this program expanded to Clean Energy Works Oregon and is available as of April 2011. This program is funded by the American Recovery and Reinvestment Act of 2009 (ARRA) and has a budget of $20 million. The goal of Clean Energy Works Oregon is to finance energy efficiency retrofits for approximately 6,000 homes. Currently, homeowners in Clackamas, Jackson, Josephine, Multnomah and Washington Counties are eligible to participate in this program.
Under this program, homeowners can finance up to $30,000 in energy efficiency retrofits for a variety of technologies. This loan is repaid on heating or utility bills and carries a fixed interest rate of 5.99% APR. To participate in this financing program, you must submit an application to get approval to participate, get an energy assessment performed on your home to prioritize energy efficiency improvements, and then decide on the energy efficiency improvements and financing package. This type of financing mechanism was originally authorized by Oregon's Energy Efficiency and Sustainable Technology Act of 2009 (HB 2626).