Many people want a more energy-efficient home, but not everyone can afford the cost of upgrades. But thanks to a new innovation called on-bill financing, having an energy-efficient home is now more affordable than ever.

Green home graphic

In short, on-bill financing provides access to low-interest loans that homeowners can use to make their homes more energy efficient. These loans can cover the cost of better insulation or more efficient light bulbs and appliances. The loan payments are added to one’s utility bill, but the energy savings often mean the homeowner sees little to no increase in the total bill.

Saliers: “A lot of what the loan costs you, you will start to see in savings on your energy bills.”

That’s Anne Saliers, community energy services manager for Holland, Michigan’s Board of Public Works. The board will accept applications for its own on-bill financing program this summer.

And because eligibility is not based on credit score, but on consistent payment of utility bills, the program significantly increases the number of people who can qualify for energy efficiency loans.

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Saliers hopes that by expanding access to financing, the program can help the city of Holland cut its home energy consumption in half by 2050.

Reporting credit: ChavoBart Digital Media/Peter Bresnan.
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More Resources
Utilities making efficiency upgrades easier with on-bill financing
Holland Board of Public Works website

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