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September 1, 2004 - Prime Rate Loans help customers save money
September 1, 2004 - Fact Sheet
Prime Rate Loans help customers save
money by conserving energy while helping the environment
The ENERGY STAR® Loan event provides homeowners with loans at Prime Rate for high efficiency furnaces or boilers. For qualifying residential customers who purchase a high efficiency furnace or boiler and other natural gas appliance(s) simultaneously, their total loan will be financed at Prime.
This program is available on ENERGY STAR® qualified furnaces and boilers. ENERGY STAR is an international symbol of energy efficiency indicating the most energy efficient product available.
Research shows that space heating makes up about 58% of a home's annual heating costs. With a high efficiency furnace (96% efficiency), customers can save up to $570 a year (compared to a 60% efficient furnace), depending on how much natural gas is consumed.
With every high efficiency furnace purchased through the ENERGY STAR Loan event, more than 2.2 tonnes of Green House Gas Emissions (GHGs) will be removed from our environment each year.
SaskEnergy is the only natural gas utility in the country to offer such a program. The company originally introduced the Prime Rate Loan Program which ran between July 2001 - June 2003 and the ENERGY STAR Loan Event which ran September 8, 2003 - March 31, 2004, to date SaskEnergy has assisted approximately 9,000 customers with $33.5 million in loans, saving them $7.5 million in interest and annual energy costs.
Loans are offered through over 135 SaskEnergy Network Members across Saskatchewan. The maximum loan amount is $10,000 per customer, for a maximum term of 5 years. The current Prime Rate is 3.75%.