Rural Electric Co-ops Offer Financing for Energy Efficiency, Reducing Costs and Boosting Comfort for Residents.

The National Renewable Energy Laboratory has found that reducing building energy usage is crucial to achieving a least-cost 100% renewable grid, as well as saving money and improving comfort. Some rural electric co-ops are lending money to customers for energy efficiency improvements, which are repaid through their utility bill. The Rural Power Coalition recommends this approach, noting that rural Americans spend as much as 40% more on energy than urban residents and that rural utilities can access 0% financing for such investments through the Rural Energy Savings Program operated by the Department of Agriculture. The interest rate charged to customers is capped at 5% and is often lower. In addition, the Ouachita Electric Cooperative in southern Arkansas has seen an average demand reduction of 18% among residential customers who have borrowed for weatherization and HVAC upgrades, and up to 70% to 80% for those who also add solar.