Independent U.S. Sen. Angus King of Maine is urging national energy efficiency experts to focus more attention on the issue of consumer financing for home heating improvements.
King and other members of the Senate Energy and Natural Resources Committee say more consumers would buy more efficient heating systems, including heat pumps, if they could be easily financed at a low cost.
“You hit the nail exactly on the head,” said Daniel Bresette, executive director of the Environmental and Energy Study Institute, in an exchange with King. “Monthly payments is a huge thing. That’s how people, individuals tend to think about what they can afford.”
King says every kilowatt hour of electricity that is not used lowers the demand on the electricity distribution system, which is important in Maine, where distribution costs are running higher than the cost of generating power.