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Funding Your Home's Energy Upgrades

The Smart E-Home Loan Program offers low rates for a wide range of energy upgrades.

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Stamford, CT | Added on July 31, 2014 At 09:24 PM

"What attracted us most to Smart-E Loan was the fact that it was specifically tailored to the kinds of programs we wanted to do at home."

You might have seen an ad recently here in Connecticut, telling the story of one family’s success in using Smart E-Loans.  It’s a statewide program partnering with local lenders and local contractors to bring you long-term, low interest financing, so that you can make your home more energy efficient and ultimately save on your energy bill.

"But, with your loan payment every month you should still come out ahead of the game," said Kerry O'Neill, Director of Connecticut's Clean Energy Finance and Investment Authority.

O’Neill tells me there are more than 40 types of energy upgrades eligible through this loan.

"I mean insulation is one of the things you definitely should be doing," she said.

And, by leveraging public and private funds, O’Neill’s organization is able to provide credit enhancements to local banks.

"So, if you went into a bank and you were looking for a personal loan you are going to get a higher rate than we can now offer in these lower interest loans. So, you can do anything from a 5 to 12 year loan with really low interest rates, from 4.99 to 6.99 percent," she continued.

And doing this construction could actually be quite easy.  There are 7600 homes here in Stamford where the gas lines run right in front of the house.  And many of those homes are not taking advantage of what’s in front of them.

"I know the gas companies are looking at expanding those lines as well.  So, this is a great opportunity to save money using natural gas," said O'Neill.

So, how much money can you save? On this chart, you can see the benefits behind using natural gas. You can save up to $949 dollars per year with a 12 year loan. 

Patriot Bank here in Stamford is one of the local lenders that can help you secure those savings.  

“If anyone is interested in some level of improvements to their home, for the good of their wallet as well as the good of their community, the smart-e home loan is the place to start,” said Richard Muscker of Patriot National Bank.

Many here in Fairfield county are already taking advantage of these loans. Muskus tells me he’s seen a big spike in  sales the past four months.  And, if you are interested in doing more than one energy improvement on your home, then you might be interested in the Smart E-Home Loan Bundle Program, offering rates as low as 2.99% with a 10 year loan.

You can learn more by going to

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