U.S. Department of Agriculture (USDA) Rural Development Oklahoma State Director Kenneth Corn announced today that the Biden-Harris Administration is investing $12 million with Indian Electric Cooperative to assist qualified consumers implement energy efficiency measures.
Funding is made available through USDA’s Rural Energy Savings Program, which provides loans to rural utilities and other companies who provide energy efficiency loans to qualified consumers to implement durable cost-effective energy efficiency measures. Consumers serviced by Indian Electric Co-op in Creek, Kay, Noble, Osage, Pawnee, Payne and Tulsa Counties will be able to apply with the electric provider to get a low interest loan that assists with energy efficiency, renewable energy, energy storage or energy conservation measures. Eligible consumers include rural homeowners and small businesses.
“President Biden is committed to reducing the inflationary impacts many rural families and small businesses have shouldered in the past,” Corn said. “This energy savings program helps families with lower electric bills and lowers the grid burden for Indian Electric Co-op especially during peak demand seasons.”
Electric co-ops have utilized the funds in the past to help consumers finance items like heat pumps, weatherization of homes, windows, insulation and other energy efficiency programs with a low-interest loan. The intent of the program is to allow for monthly energy savings to offset a part or all of the household’s loan and provide long-term savings in the future.
“USDA’s Rural Energy Savings Program is an outstanding way electric providers can work with their customers to make improvements to their home they more than likely intended to do, but just couldn’t afford with traditional financing terms offering higher interest costs,” Corn said. “This is why I am grateful that President Biden believes all Americans regardless of their zip code deserve the opportunity to help invest in themselves to better their future household finances.”
USDA touches the lives of all Americans each day in so many positive ways. Under the leadership of the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit https://www.rd.usda.gov/ok.