Washington, DC – A partnership announced today will implement an innovative program to finance energy efficiency improvements for rural homes with low-cost loans that are repaid through customers’ electric bills (aka “on-bill financing”). The Environmental and Energy Study Institute (EESI), a nonprofit policy education and outreach organization, will work with electric cooperatives in South Carolina to design and implement the pilot project for a “Rural Energy Savings Program” that will serve as a model for similar programs in other states, and a pending national program. The Electric Cooperatives of South Carolina (ECSC), the state association of electric cooperatives, and Central Electric Power Cooperative, the state’s generation and transmission co-op, will be EESI’s lead partners in this effort. The collaboration between the co-ops and EESI to design and implement this pilot project is being supported by a $225,000 grant to EESI from the Doris Duke Charitable Foundation.

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“We are in a crisis. It is time to face it head-on with all the tools we have. Deployment plans by the National Academies of Science and by various private organizations show the way. The key remaining ingredient is a national will. The good news is that the U.S. can virtually eliminate use of petroleum in our passenger cars by 2050 with the right combination of policies, research and assistance to commercialize a portfolio of vehicle and fuel technologies. Efficiency, biofuels, natural gas, battery electric and fuel cell electric vehicles all will make a contribution,” they said.

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The President’s FY 2008 budget calls for a $426 million cut in EPA’s overall budget (6% cut from FY 06 appropriations) of $7.2 billion, thus reducing financial support for a wide range of environmental and climate programs.

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Carol Werner, Executive Director of the Environmental and Energy Study Institute (EESI), issued the following statement on the release of the president’s FY 08 budget for the U.S. Department of Energy.

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