As we celebrate our nation’s Independence Day, we would like to take the opportunity to highlight another successful independence tale: The story of South Carolinians regaining control of their energy spending!
In a timely report released on Tuesday, South Carolina’s consumer-owned electric cooperatives (co-ops) announced the results of their “Help My House” Loan Pilot Program. Participating households were given the opportunity to install energy efficiency measures in their homes using co-op provided loans, and repay the loan on their electricity bill. By offering this new on-bill financing plan, the cooperatives have given their members the freedom to choose how to spend the savings that result from a more efficient household!
Below is the original press release from the Environmental and Energy Study Institute, found here.
South Carolina’s consumer-owned electric cooperatives (co-ops) have released the results of their “Help My House” Loan Pilot Program. The pilot provided loans to co-op member-owners to make energy efficiency improvements to their homes. The loans are being repaid to the co-ops through participants’ utility bills, in a process known as “on-bill financing.” Billing data on the 125 participating South Carolina homes indicates a 34 percent reduction in energy use (1.35 million kWh) in the year after the work was completed, an average savings of $288 per home after loan payments.
On Thursday, January 13, 2022, the U.S. House of Representatives Committee on Energy and Commerce addressed a letter to the Tennessee Valley Authority (TVA) outlining areas where the nation's largest public utility…