(ARLINGTON, VA) — The National Rural Electric Cooperative Association (NRECA) today released the following statement welcoming the U.S. Department of Agriculture’s new rule on energy efficiency. The rule will allow co-ops to access Rural Utilities Service (RUS) funds for residential energy efficiency loans to co-op members.
“Electric co-ops welcome this new financing tool that will allow co-ops to help their members overcome the biggest hurdle to energy efficiency upgrades: cost,” said NRECA CEO Jo Ann Emerson. “96 percent of member-owned, not-for-profit cooperatives offer energy efficiency programs to help their members save money.
The innovation of this program is that, for the first time, co-ops may lend RUS funds to consumers to undertake their own efficiency upgrades. Consumers may have the ability to repay the loan through on bill financing.
The National Rural Electric Cooperative Association is the national service organization that represents the nation’s more than 900 private, not-for-profit, consumer-owned electric cooperatives, which provide service to 42 million people in 47 states.