FOR IMMEDIATE RELEASE

Contact: Jim Graham
press@Sprenger2008.com
(831) 234-4337

Assembly candidate Barbara Sprenger proposes loan program promoting energy efficient technologies for homes and small businesses

October 8, 2007 - Barbara Sprenger, candidate for California's 27th Assembly District, today proposed the California Energy Loan Program, which will provide 100% low-interest loans to individuals and small businesses for solar panels, solar and on-demand water heaters, home-scale wind generators, insulation and other clean energy and conservation systems.

The program is designed such that monthly loan repayments are offset by monthly savings on most consumers' utility bills, allowing individuals and small business owners to save the planet and save money.

“Many clean energy technologies have large upfront costs, but they save money on energy use and reduce greenhouse gases,” Sprenger said. “By financing these investments over time at low interest rates, more people can afford to make these investments, reducing their carbon footprint and monthly utility bills at the same time.”

California's Global Warming Solutions Act of 2006 mandates a reduction of greenhouse gases to 1990 levels by the year 2020 (roughly a 25% reduction). The California Energy Loan program will help achieve this goal and be financed by selling tax-free bonds to investors and paying off the bonds as the energy loans are paid off.

Under Sprenger's plan, the State would “buy down” the interest rate enough to meet the central goal of the program - to ensure that consumers' energy savings are more than their loan repayments.

“Even if energy costs increase, the monthly loan payments remain the same, so the savings for consumers get better over time,” Sprenger said. “We know this model can work because it has before. Germany has the same size economy as California and, by using innovative public programs, now accounts for half the solar panels installed worldwide.”

People interested in supporting the California Energy Loan Program can sign an online petition at http://www.sprenger2008.com .

“Meeting the goals of the Global Warming Solutions Act won't happen without the help of all of us,” Sprenger said. “The California Energy Loan Program is one way that government, individuals and the private sector can work together, creating a smarter solution than any one group working alone.”

About Barbara Sprenger
Barbara Sprenger is a mother, a businesswoman and a community leader. Her experiences range from serving as a school board trustee, to running a green business, to organizing community to protect local water. Please visit www.sprenger2008.com to learn more.