EcoEKY: Green News from Eastern Kentucky

from the Kentucky Solar Partnership website:

Low-Interest Loans for Solar Water Heaters

The Kentucky Solar Partnership (KSP) and the Mountain Association for Community Economic Development (MACED) are partnering to offer low interest loans for the installation of solar water heaters. Loans cover the full equipment and installation cost. Interest rates are fixed at 6.0%. All loans are to be repaid in monthly installments, with a fixed term of six years.

Who can apply?

Residents and businesses in Eastern Kentucky are eligible to apply. A credit check is required before final loan approval. Click here to see a map and list of the 51 counties in MACED’s service area.

What does a solar water heater cost?

Installing a residential solar water heater in Kentucky will typically cost $3,000 to $6,500 and will save a family about $150 to $400 or more per year on their utility bills. The price range for installing a system depends on the amount of hot water used each day, whether a new water storage tank is required, the size of the home, whether the system is installed by the homeowner or a professional contractor, and other factors.

To learn more about this low-interest loan program, visit KSP's website. Click here.

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