The idea is to enable people to get low-cost loans to make home energy-saving projects, and pay back the money on their monthly utility bills. If payments are structured as envisioned, the savings on energy bills could equal the monthly loan repayments, so there is no additional monthly cost, or minimal cost, to the homeowner.
The program is designed to help people use less energy, finance improvements with no out-of-pocket costs and create “green jobs” in home energy retrofits.
Sounds good to me.
We're at the point where we've been talking up the benefits of green products and practices for awhile now -- the green media really took off in the mid 00's. With barriers to progress on the proliferation of green technologies becoming ever clearer, smart policy solutions like this, as well as Berkeley's home solar initiative, are really starting to pop up. It's exciting to watch these emissions-reducing, money-saving ideas develop.