As many in Camden cope with and prepare for layoffs, Mayor Dana Redd announced today a new energy efficiency program to encourage home and businesses owners to take on their own energy improvements with program funding.
Camden Program Offering Widespread Energy Recovery offers eligible homeowners access of up to $16,000 in forgivable loans and cash back rebates from NJ Clean Energy’s Home Performance with Energy Star Program, while helping residents complete the projects needed to make their homes energy efficient.
“As long as you own and live in your home for ten years after receiving the loan, you don’t have to pay anything back,” the POWER site says. “A portion of the loan amount will be forgiven every year until the lien is satisfied.”
New Jersey Community Capital will administer Camden POWER commercial funding to business owners who make energy-efficient retrofits to their establishments. All Urban Enterprise Zone businesses are eligible.