Conway Corp.'s Energy Smart Loan Program Surpasses $1M

Conway Corp.'s Energy Smart Loan Program Surpasses $1M

Conway Corp.’s Energy Smart program recently reached a milestone, surpassing the $1 million mark in no-interest loans provided by the utility to its customers.

It has issued 337 loans totaling more than $1 million and provided more than 3,200 free energy audits over the past 11 years.

In 2009, Conway Corp. launched the Energy Smart initiative. It began with providing residential energy audits to customers to help them make their homes more energy efficient.

With funding from the city, through the Stimulus Funding Act of 2009, the utility began offering the loans in early 2010. They range from $500 to $2,500 and can be used by residential customers to make energy efficiency improvements.

David Avra, energy efficiency manager, said in a news release that the initiative has resulted in energy savings of an estimated $1.3 million-plus per year and $24 million over the life of their homes. Customers have used the loans for projects such as replacing old appliances, installing new windows and installing attic insulation.