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06 Nov 2006 / 2:47 pm
Eco Financing
When you buy a car you do pay up front or amortize the cost by borrowing to lessen the initial sting? Why not do the same when purchasing mechanical upgrades to your house?
This makes way more sense because if you buy a heating/cooling system such as a geothermal heat pump, you will save a significant amount on the monthly utility costs. You will win out in the end. You can’t do that with a car.
Alternative heating and cooling systems will become more common simply because they do make economic sense in the long run. The Question then becomes how long will it take the banks and other financial institutions to promote products encouraging the purchase of such improvements? I am as of yet unaware of any companies who will provide financing for a residential energy retrofit, but I’m searching and I’m sure I will find one in the Toronto region soo enough. If you know of such a company, let me know at marc@evolutiongreen.com or comment on the blog.
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