Utility Companies May Offer Loans for Energy Upgrades

Alaskan utility customers may soon find a pleasant surprise in the form of loans. For energy efficient upgrades and adding renewable energy systems, they will be paid back through their monthly bills.

Known as “on-bill financing,” this is already done throughout the country.

Gov. Bill Walker signed a bill into law to suspend service to customers if they don’t pay back their loans. According to president and CEO of Golden Valley Electric Association Cory Borgeson says the company has to set up a bank business before the program can begin.

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Image via TreeHugger.

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