CUMBERLAND — The Town Council on Sept. 22 unanimously adopted an ordinance and authorization agreement for the Property Assessed Clean Energy program.
Through that program, Efficiency Maine administers a revolving loan fund that finances energy efficiency improvements, like solar panels and efficient heating systems and insulation. Federal stimulus funds fuel the program. The $20 million revolving loan fund is available at low interest rates to homeowners.
Homeowners’ debt-income ratio must be less than 50 percent, they must be current on property taxes and sewer charges, and they cannot have a reverse mortgage or existing liens, foreclosures or similar delinquencies.