A utility in northern Michigan wants to help its customers improve their energy efficiency by offering low-interest loans for home renovations.

Traverse City Light and Power offers 3% loans for amounts ranging from $ 5,000 to $ 30,000. The loan and monthly payment will be added to your utility bills.

TCLP’s Jake Hardy says they want to encourage customers to look at more than just basic energy efficiency upgrades. “We started the $ 5,000 program to really get people to do a little more than basic energy efficiency improvements. We want people to watch their whole house. It’s not just the electric side of things, but it also offers the ability to do gas upgrades. So your furnace which is kind of a mixture of electricity and gas, right down to the windows, the insulation, those kinds of projects that would really help people lower their utility bills.

TCLP claims to be the first utility in the country to use USDA federal funds for a funding program like this. And Hardy says if the program is successful, they can apply for an additional round of federal funding.

Energy Upgrade Loans only apply to residential properties. There is a separate program for commercial properties.

You can get more information on how to apply by clicking on here.