ARLINGTON, VA. — Federal legislation to create the Rural Energy Savings Program (RESP) was praised Wednesday by Retail Industry Leaders Association here.
If approved, the program will make loans to rural electric cooperatives that will, in turn, provide the money in the form of low-interest micro-loans to consumer residences or businesses for the purposes of making investments in energy efficient upgrades.
The legislation to establish the program was announced Wednesday by House Majority Whip James E. Clyburn (D-SC) and Ed Whitfield (R-KY) and Senators Jeff Merkley (D-OR) and Lindsey Graham (R-SC).
“By providing rural homeowners and businesses with the resources to invest in energy efficiency upgrades, the Rural Energy Savings Program (RESP) will help save American families and businesses money on their electric bills, reduce pollution, and create jobs,” said RILA President Sandy Kennedy.
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