A new loan program will launch this week for residents of St. Louis County that offers low interest rates for home improvements that save on energy costs.
St. Louis County SAVES will provide $10.4 million for residential energy efficiency loans ranging from $2,500 to $15,000.
The initiative is one of the first in the nation to use a unique bond structure for green community programs, according to a county news release. Residents are able to enjoy unusually low rates due to the county’s strong AAA bond rating, according to the release.
“As the nation strives to address rising energy costs, we are pleased to be on the forefront of providing residents an affordable way to improve the energy efficiency of their homes,” County Executive Charlie Dooley stated.
Local contractors also will benefit from the program as more than 1,000 homes are expected to get upgrades as a part of the effort.
“It’s a great source of new business in the community,” stated Glenda Abney, director of EarthWays Center, a division of Missouri Botanical Garden that will be providing contractor training, energy efficiency verification and marketing support for the program.
“Home owners can see immediate savings from simple improvements to their home that payback quickly in both comfort and lower energy bills” according to Anne Klein, the county’s director of sustainability that is leading the program. Klein led a national search for a program administrator and selected Abundant Power Solutions of Charlotte, N.C., which has rolled out similar programs in Alabama and South Carolina.
Abundant Power will facilitate the loans to participating property owners.
For more details about the program, visit