ODOD - Double Saving Loan (Ohio)
Last modified on August 6, 2011.
Financial Incentive Program
|Name||ODOD - Double Saving Loan|
|Incentive Type||State Loan Program|
|Eligible Technologies||Clothes Washers, Dishwasher, Refrigerators, Dehumidifiers, Ceiling Fan, Water Heaters, Lighting, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Custom/Others pending approval|
|Energy Category||Energy Efficiency Incentive Programs|
|Amount||500 - 10,000|
|Funding Source||System Benefits Charge|
|Terms||Reduced interest rate of up to 50%|
|Program Administrator||Ohio Department of Development|
|Date added to DSIRE||2006-01-27|
|Last DSIRE Review||2007-06-11|
The Ohio Department of Development (ODOD) and the Office of Energy Efficiency (OEE) offers a Double Saving Loan to qualified residential borrowers. Projects that improve energy efficiency in a one- to three-unit residential building are eligible for a interest-rate reduction of up to 50% through a linked deposit.
Possible projects include the installation of Energy Star products and equipment, as well as home insulation and weatherization. Weatherization projects will either need a Home Energy Rating Systems (HERS) rating or to be installed by an approved and Ohio OEE trained contractor.
Borrowers first contact a private lender for funds and then apply for approval under the Ohio Double Saving Loan program. Not all Ohio financial institutions are participating in this program; contact the Ohio OEE for more information.
This program is funded through a system benefits charge; only residents who are in the service area of AEP, Cinergy, First Energy, Dayton Power and Light and Monongahela/Allegheny Power are eligible to apply.
|Contact Name||Judy Pacifico|
|Department||Ohio Department of Development|
|Division||Office of Energy Efficiency|
|Address||77 South High Street, 26th Floor|
|Address 2||PO Box 1001|
|Phone 2||(800) 848-1300|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.