House OK's Bill Creating Loan for Home Heating Conversion
The Alaska House today unanimously passed legislation making it affordable for Alaskans to convert their home heating systems to a less expensive and cleaner heating method.
Rep. Tammie Wilson’s House Bill 312 creates a low-interest loan program, administered by the Alaska Housing Finance Corporation, enabling homeowners to convert to a natural gas, propane, electric, biomass, or district heat appliance.
The proposed statewide loan program would be capped at $7,500 per applicant with a one percent interest rate for 10 years and would only cover the cost of the heating appliance.
“HB 312 will benefit communities across the state and give Alaskans the option to convert their current, less efficient heating appliances for a more affordable and cleaner heating method,” Wilson, R-North Pole, said.
Wilson said that in addition to the energy savings, this program will also help with communities who have been designated by the Environmental Protection Agency as having unacceptable air quality levels, such as the case with the Fairbanks North Star Borough. “The conversion of heating systems to cleaner, more efficient methods will help abate the high levels of particulates in some locations,” Wilson said.
The bill now heads to the Alaska Senate for consideration.