Nuclear Loans Guaranteed

  • If all goes according to plan, the nuclear reactors will go up in six to seven years and cost around 14 billion dollars. (Photo courtesy of the National Renewable Energy Laboratory)

The Obama Administration
announced that it will back
the cost of constructing two
new nuclear reactors. Mark
Brush reports, if they’re
constructed, they’ll be the
first reactors built in the
country in nearly three decades:

Transcript

The Obama Administration
announced that it will back
the cost of constructing two
new nuclear reactors. Mark
Brush reports, if they’re
constructed, they’ll be the
first reactors built in the
country in nearly three decades:

The Southern Company plans to build the reactors in Georgia. They say, if all goes well, they’ll go up in six to seven years and cost around 14 billion dollars.


Investors have seen nuclear energy as a risky bet. But now that the President says the government will guarantee the loans, Wall Street might be enticed back to nuclear energy.

And then there’s the question of safety. President Obama’s Energy Secretary is Steven Chu. He says these new generation reactors are safe.

“We expect that the newer generation reactors will be ideally completely passively safe. Which means that, uh, you don’t actually need to control the reactor. If you lose control of it, it will not melt down.”

Some environmentalists say nuclear energy is not worth the costs – and there’s still no permanent place to store nuclear waste that’s radioactive for thousands of years.

For The Environment Report, I’m Mark Brush.

Related Links

Financing Energy Efficiency

  • More than half the houses in the U.S. were built before 1970. (Photo courtesy of the National Renewable Energy Laborator)

Reducing your carbon footprint
by using less energy can cost
money. Efficient cars, energy
efficient homes, and energy-saving
appliances all take money. That’s
why some states are testing whether
homeowners would be willing
to borrow money to upgrade their
homes and, in turn, save a few
bucks in energy costs. In one
state, the plan is to get private
banks and credit unions to finance
energy efficiency. Peter Payette reports:

Transcript

Reducing your carbon footprint
by using less energy can cost
money. Efficient cars, energy
efficient homes, and energy-saving
appliances all take money. That’s
why some states are testing whether
homeowners would be willing
to borrow money to upgrade their
homes and, in turn, save a few
bucks in energy costs. In one
state, the plan is to get private
banks and credit unions to finance
energy efficiency. Peter Payette reports:

When you hear green building, you might think of a fancy new house with solar panels. But most homes are not new, so reducing the amount of energy communities use means doing something about old houses.

Max Strickland owns a business in Michigan that certifies green homes and buildings. He says more than half the houses in the U.S. were built before 1970.

“We had very little energy code requirements previous to that.”

But upgrades cost money that many homes owners don’t always have. And a lot of people saw whatever equity they had in their house disappear during the past couple of years.

Now, the State of Michigan is trying to help people find the money to make their homes more energy efficient. The program is called Michigan Saves. The state launched the pilot project in a rural area of the state. The pilot is a collaboration of a local credit union, an electric cooperative and a building supply company.
Borrowers will have their new payment tacked onto their monthly utility bill.

Trevor Williams is with Brown Lumber, the building supply company involved in the pilot. Williams says it’s likely most of the improvements will be in heating costs. He says to begin with, home owners will be encouraged to have an energy audit.

“The audit it would say things that need to be done, the top three things that are recommended. Furnace replacement, ceiling ducts and weatherizing the house those going to be the three most common items.”

But homeowners can also borrow money for new energy efficient appliances like refrigerators and hot water heaters. Sometimes loans like this are promoted as immediately paying for themselves. That is, it’s suggested the money you save on your utility bills will fully cover your new payment. That’s not necessarily the case.

Marc McKeller is with Members Credit Union which is financing the project. He says after a few years, people will be able to break even on the costs. Government tax incentives and other rebates will help that happen. But McKellar says people shouldn’t expect to take out a loan, retrofit their house and not have more to pay each month.

“The only way it could be was if a government was to give zero percent loans out and that they received tremendous rebates from the utilities and that they received a tremendous government credit.”


But, McKellar says it’s still a good deal. The interest rate for project’s loans will be a little bit better because the state is backing the loans.

And tight credit means not many banks are loaning people money to make their house energy efficient and not many people are putting money into a home that’s lost value because of the housing market bust. That’s one of the reasons they need to run a pilot project.

“They’re trying to determine through this study, how do you get a consumer to actually do this and what are the benefits?”

The directors of Michigan Saves hope to roll out a statewide program later this year. So far no banks have agreed to participate but there are other credit unions interested in the concept.

For The Environment Report, I’m Peter Payette.

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Sewer Districts Seeking Bottle Tax

  • In an effort to leverage more funding for better sewer maintenance, many sewer districts are in support of a plan to tax some kinds of bottled drinks. (Photo by Pam Roth)

Sewage treatment districts are looking for more money to
fund repairs and upgrades to the nation’s sewage systems. One idea they’re discussing is a seven percent tax on many types of bottled beverages. The Great Lakes Radio Consortium’s Chuck Quirmbach
reports:

Transcript

Sewage treatment districts are looking for more money to
fund repairs and upgrades to the nation’s sewage systems. One idea
they’re discussing is a seven percent tax on many types of bottled
beverages. The Great Lakes Radio Consortium’s Chuck Quirmbach
reports:


A group representing 300 sewer districts around the U.S says a Clean
Water Trust Fund is needed for infrastructure projects. Ken Kirk is
Executive Director of the Association of Metropolitan Sewerage
Agencies. He says there isn’t enough public money to maintain the sewers
built
decades ago and reduce sewer overflows into rivers and lakes.


“We’ve gone from a grants program to a state revolving loan
program which is important but gets cut each and every year.”


So Kirk’s group will meet with industry lobbyists in Washington D.C.
this month and talk about other funding sources. One idea is to
create a national tax on all bottled drinks except for milk, juice,
baby formula and health drinks.


Kirk says polling shows people support having a dedicated source of funding for clean water. But a major brewer plans to fight the proposal. Miller Brewing says forty-four percent of the price of its beer already goes to taxes.


For the Great Lakes Radio Consortium, I’m Chuck Quirmbach.

Related Links

Drawing Up an Energy Efficient Mortgage

  • A mortgage program through Fannie Mae can help people buy older homes and make them more energy efficient with one loan. (Photo by Lester Graham)

Winter is here, and homeowners are preparing for another
round of expensive home heating bills. The U.S. Energy Department
says depending on the fuel you use, home heating costs will rise between
nine percent and 30 percent this winter over last. The high cost of energy
has prompted at least one family to go deeper into debt to save on energy
costs in the future. The Great Lakes Radio Consortium’s Erin Toner has
more:

Transcript

As homeowners face another winter of rising heating bills, one loan officer in the
region
is promoting energy efficiency when people shop for a mortgage. The Great Lakes Radio
Consortium’s Erin Toner reports:


The government and government-chartered companies such as Fannie Mae offer Energy
Efficient Mortgages. But relatively few homeowners take advantage of them. Under the
program, new or existing homes are inspected and rated for energy efficiency. The
homeowners decide which energy-efficient improvements to do, and then roll the cost of
them into their mortgage.


Joel Wiese is a loan officer. He recently closed one of the few non-governmental
energy
efficient mortgages in the Great Lakes region.


“When you start looking at the total housing expense, utilities on top of the rest
of what
you’re doing, you’re basically going to spend less money than you normally would.
Because you’re reducing your utilities. Even though you’re increasing your mortgage
slightly, you’re reducing your utilities significantly. It’s a win-win.”


Wiese says there haven’t been more energy efficient mortgages in the region because
few
realtors, loan officers and lenders know how to use the program.


For the Great Lakes Radio Consortium, I’m Erin Toner.

Related Links

DRAWING UP AN ENERGY EFFICIENT MORTGAGE (Short Version)

  • A mortgage program through Fannie Mae can help people buy older homes and make them more energy efficient with one loan. (Photo by Lester Graham)

As homeowners face another winter of rising heating bills,
one loan officer in the region is promoting energy efficiency when
people shop for a mortgage. The Great Lakes Radio Consortium’s
Erin Toner reports:

Transcript

As homeowners face another winter of rising heating bills, one loan officer in the
region
is promoting energy efficiency when people shop for a mortgage. The Great Lakes Radio
Consortium’s Erin Toner reports:


The government and government-chartered companies such as Fannie Mae offer Energy
Efficient Mortgages. But relatively few homeowners take advantage of them. Under the
program, new or existing homes are inspected and rated for energy efficiency. The
homeowners decide which energy-efficient improvements to do, and then roll the cost of
them into their mortgage.


Joel Wiese is a loan officer. He recently closed one of the few non-governmental
energy
efficient mortgages in the Great Lakes region.


“When you start looking at the total housing expense, utilities on top of the rest
of what
you’re doing, you’re basically going to spend less money than you normally would.
Because you’re reducing your utilities. Even though you’re increasing your mortgage
slightly, you’re reducing your utilities significantly. It’s a win-win.”


Wiese says there haven’t been more energy efficient mortgages in the region because
few
realtors, loan officers and lenders know how to use the program.


For the Great Lakes Radio Consortium, I’m Erin Toner.

Related Links